Complete Test Bank for Personal Finance, 5th Canadian Edition by Jeff Madura, Hardeep Singh Gill ; ISBN13: 9780136662907. (Full Chapters included Chapter 1 to 16)...1. Overview of a Financial Plan.
2. Applying Time Value Concepts.
3. Planning with Personal Financial Statements.
4. Using Tax Conc...
Personal Finance
5th Canadian Edition
by Jeff Madura
Complete Chapters Test Bank are
included (Ch 1 to 16)
** Immediate Download
** Swift Response
** All Chapters included
,Personal Finance, Canadian Ed., 5e (Madura)
Chapter 1 - Overview of a Financial Plan
How You Benefit from an Understanding of Personal Finance
1) Many people who believe they have strong personal finance skills do not really understand
some basic personal finance concepts.
Answer: TRUE
Diff: 1 Type: TF
Categories: Benefit From Understanding Personal Finance
Financial Type: Qualitative
Skill Type: Recall
2) FP Canada sets out the steps needed to earn the Certified Financial Planner (CFP) designation.
Answer: TRUE
Diff: 2 Type: TF
Categories: Benefit From Understanding Personal Finance
Financial Type: Qualitative
Skill Type: Recall
3) A car accident which is not fully covered by your insurance is an example of an unexpected
expense you cannot plan for.
Answer: FALSE
Diff: 2 Type: TF
Categories: Benefit From Understanding Personal Finance
Financial Type: Qualitative
Skill Type: Applied
4) An understanding of personal finance is necessary to judge the quality of advice that a
financial adviser may give.
Answer: TRUE
Diff: 1 Type: TF
Categories: Benefit From Understanding Personal Finance
Financial Type: Qualitative
Skill Type: Recall
5) FP Canada is a profit-oriented organization created to benefit the public with regards to
financial planning.
Answer: FALSE
Diff: 1 Type: TF
Categories: Benefit From Understanding Personal Finance
Financial Type: Qualitative
Skill Type: Recall
1
.
, 6) Saving money for the downpayment on a house instead of saving for retirement is an example
of an opportunity cost.
Answer: TRUE
Diff: 2 Type: TF
Categories: Benefit From Understanding Personal Finance
Financial Type: Qualitative
Skill Type: Applied
7) Generally, savings in an emergency fund will tend to earn higher interest than savings in a
retirement plan.
Answer: FALSE
Diff: 2 Type: TF
Categories: Benefit From Understanding Personal Finance
Financial Type: Qualitative
Skill Type: Recall
8) If you have sufficient available credit there is no reason to consider holding liquid cash in an
emergency fund.
Answer: FALSE
Diff: 2 Type: TF
Categories: Benefit From Understanding Personal Finance
Financial Type: Qualitative
Skill Type: Applied
9) As long as you stay within your budget of spending $100 per month on eating out, there is no
opportunity cost.
Answer: FALSE
Diff: 2 Type: TF
Categories: Benefit From Understanding Personal Finance
Financial Type: Qualitative
Skill Type: Applied
10) Taxes should have a minimal impact on your financial choices.
Answer: FALSE
Diff: 1 Type: TF
Categories: Benefit From Understanding Personal Finance
Financial Type: Qualitative
Skill Type: Recall
11) Risk management may include deciding not to protect yourself against a given risk.
Answer: TRUE
Diff: 2 Type: TF
Categories: Benefit From Understanding Personal Finance
Financial Type: Qualitative
Skill Type: Recall
2
.
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