100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
TEST BANK FOR Applied Pathophysiology: A Conceptual Approach 4th Edition by Judi Nath, Carie Braun & CINDY ANDERSON , ISBN: 9781975179199 (Chapter 1-20)|| Ultimate A+ Guide$17.99
Add to cart
TEST BANK FOR Applied Pathophysiology: A Conceptual Approach 4th Edition by Judi Nath, Carie Braun & CINDY ANDERSON , ISBN: 9781975179199 (Chapter 1-20)|| Ultimate A+ Guide
0 view 0 purchase
Course
PFIN8
Institution
PFIN8
TEST BANK FOR Applied Pathophysiology: A Conceptual Approach 4th Edition by Judi Nath, Carie Braun & CINDY ANDERSON , ISBN: 9781975179199 (Chapter 1-20)|| Ultimate A+ Guide
Test Bank for PFIN8, 8th Edition by Randall Billingsley
Chapter 01 PFIN8
(Answers at the end of every Chapter)
Indicate whether the statement is true or false.
1. The support of philanthropic organizations is a material item that contributes to our quality of life.
a. True
b. False
2. For employees of large firms, managing employee benefits is an important part of financial planning.
a. True
b. False
3. Commission-based financial planners charge fees based on the complexity of the plan they prepare.
a. True
b. False
4. Short-term planning should include creating and maintaining an emergency fund with at least six months’ worth
of income.
a. True
KA
b. False
5. The decisions you make in career planning are independent of the decisions you make in financial planning.
a. True
b. False
G
6. Morgan has an annual income of $45,000 and spends $30,000 for current needs. Morgan’s average propensity
to consume is 80 percent.
a. True
U
b. False
7. Retirement planning includes taking advantage of and managing employer-sponsored benefits.
A
a. True
b. False
8. Two people with significantly different incomes can have equal average propensities to consume because of
differences in their standard of living.
a. True
b. False
9. In the United States, salaries tend to be higher in the Northeast and West than in the South.
a. True
b. False
10. Financial planning can improve your standard of living.
a. True
b. False
Page 1
,Name: Class: Date:
Chapter 01 PFIN8
11. Standard of living is defined as the necessities, comforts, and luxuries desired by an individual or a family.
a. True
b. False
12. Fee-only financial planners earn commissions for the products they sell.
a. True
b. False
13. Setting long- and short-term career goals helps in career planning.
a. True
b. False
14. The longer you wait to begin retirement planning, the less you are likely to have in your retirement fund.
a. True
b. False
15. Career plans should not be changed after long- and short-term career goals are set.
KA
a. True
b. False
16. Tangible (physical) assets are earning assets that are held for the returns they promise.
a. True
G
b. False
17. Financial planning takes place in a dynamic economic environment created by the actions of the government,
U
business, and consumers.
a. True
b. False
A
18. You should discuss your financial goals and attitudes toward money with your partner.
a. True
b. False
19. The most effective way to achieve financial objectives is through personal financial planning.
a. True
b. False
20. Geographic factors affect your earning power.
a. True
b. False
21. When you get your first job, you should make a good financial plan that you can follow without making changes
until you retire.
a. True
b. False
Page 2
,Name: Class: Date:
Chapter 01 PFIN8
22. Most people tend to be more liberal about their expenditures during a recession or crisis.
a. True
b. False
23. Tax plans are closely tied to investment plans.
a. True
b. False
24. The federal government delegates its regulation of economic activity function to businesses and consumers.
a. True
b. False
25. Living costs are constant throughout the country.
a. True
b. False
26. The average propensity to consume is commonly viewed as a key determinant of standard of living.
KA
a. True
b. False
27. Recessions and financial crises will always result in job loss.
a. True
G
b. False
28. The need for financial planning declines as your income increases.
U
a. True
b. False
A
29. It is easy to change your partner’s financial style, so there is no need for financial planning to resolve conflicts
regarding money matters.
a. True
b. False
30. Accumulating wealth for later years is called estate planning.
a. True
b. False
31. Saving $400 for a large, flat-screen TV within the next four months is an example of a short-term goal.
a. True
b. False
32. You should limit your spending to no more than 20 percent more than what you earn.
a. True
b. False
Page 3
, Name: Class: Date:
Chapter 01 PFIN8
33. Marital status affects the income level of individuals.
a. True
b. False
34. Your purchase, saving, investment, and retirement plans and decisions are not influenced by the present state of
the economy.
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.
35. Which of the following is one of the most emotional issues in any relationship, including that with a partner,
parents, or children?
a. Career choices
b. Hobbies
c. Friends
d. Money
KA
e. Retirement planning
36. Which of the following would be considered real property?
a. Stocks
G
b. Land
c. Cash
d. Bonds
U
e. Clothing
37. What type of plans are most helpful in making decisions regarding retirement?
A
a. Personal financial
b. Insurance
c. Estate
d. Business
e. Spending
38. The three key groups in the economic environment are:
a. government, regulators, and business.
b. government, consultants, and business.
c. consumers, economists, and business.
d. consumers, business, and managers.
e. government, business, and consumers.
Page 4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller PROFDOC. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
