CSM exam 1 questions & answers 2023/2024
CSM exam 1 questions & answers 2023/2024 Personal Financial Planning - ANSWER-the process of managing your money to achieve personal economic satisfaction Personal Financial Planning Goal - ANSWER-to enhance quality of life and increase satisfaction by reducing uncertainty about future needs and resources Personal Finance advantages - ANSWER-effective managing of resources, control of financial affairs, improved personal relationships, freedom from financial worry Level of Living - ANSWER-The way we can afford to live today and make ends meet Standard of living - ANSWER-how we want to live financially Financial success - ANSWER-the achievement of financial aspirations that are desired, planned, or attempted Steps in the personal financial planning process - ANSWER-Determine current financial situation Develop your financial goals Identify alternative courses of action Evaluate alternatives Create and implement the plan Review and revise the plan How to determine current financial situation - ANSWER-determine income, debt, living expenses, savings prepare a balance sheet and cash flow statement mach financial goals to current income and potential earning power
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- December 7, 2023
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- 2023/2024
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- Exam (elaborations)
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- Questions & answers