Fin 310 Midterm CSUF Questions With Complete Solutions
What is the importance of financial planning? correct answer: - Manage the unplanned - Accumulate wealth for special expenses - Save for retirement - "Cover your assets" - Invest intelligently - Minimize your payments to Uncle Sam What is step 1 of the personal financial planning process? correct answer: Evaluate Your Financial Health What is step 2 of the personal financial planning process? correct answer: - Define Your Financial Goals - Specifically define and write down your financial goals - Attach a cost to each goal - Set a date for when the money is needed to accomplish the goal What is step 3 of the personal financial planning process? correct answer: Develop a Plan of Action - Flexibility - Liquidity - Protection - Minimization of taxes What is step 4 of the personal financial planning process? correct answer: Implement Your Plan What is step 5 of the personal financial planning process? correct answer: Review Your Progress, Reevaluate, and Revise Your Plan What are the time horizons for financial goals? correct
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California State University - Fullerton
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Fin 310
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- July 7, 2023
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fin 310 midterm csuf questions with complete solut