BUS 2204 – PERSONAL FINANCE 2 ACTUAL
TEST PAPER 2026 QUESTIONS SOLUTIONS
GRADED A+
◉ Your financial planning should reflect the realities of your career
choice because your choice of career affects your __________.
a. health and safety risks.
b. salary and benefits.
c. career duration.
d. b. and c.
e. a., b., and c.
Answer: e. a., b., and c.
◉ Your time horizon for financial planning is __________.
a. the time it takes to set goals.
b. the five-year plan.
c. the time it takes to realize goals.
d. life long.
e. approximately 65 years.
,Answer: d. life long.
◉ Individual factors may affect all the following financial situations
EXCEPT __________.
a. inflation.
b. income.
c. income needs.
d. risk tolerance.
e. wealth.
Answer: a. inflation.
◉ Periods of contraction in the economy often lead to __________.
a. reduced returns on investment.
b. an increase in the employment rate.
c. growth in job creation.
d. greater consumption.
e. greater participation in the capital markets.
Answer: a. reduced returns on investment.
◉ An effect of deflation is that your money __________.
,a. is worth more and buys more.
b. is worth less and buys less.
c. has less purchasing power.
d. is less useful as a medium of exchange.
e. is more stable.
Answer: a. is worth more and buys more.
◉ Because of inflation, the school supplies you bought for $20 last
year now cost __________.
a. $19.95.
b. $10.
c. $15.
d. $30.
e. $12.95.
Answer: d. $30.
◉ In financial planning, effective goals are __________.
a. timely.
b. specific and measurable.
, c. realistic and attainable.
d. b. and c.
e. a., b., and c.
Answer: e. a., b., and c.
◉ Financial advisors may assist through all the following services
EXCEPT __________.
a. tax planning.
b. career planning.
c. estate planning.
d. investment planning.
e. business financial planning.
Answer: b. career planning.
◉ Characteristics of financial advisors to look for include __________.
a. manner of compensation.
b. ability to give subjective advice.
c. professional training.
d. a. and c.
e. a., b., and c.
TEST PAPER 2026 QUESTIONS SOLUTIONS
GRADED A+
◉ Your financial planning should reflect the realities of your career
choice because your choice of career affects your __________.
a. health and safety risks.
b. salary and benefits.
c. career duration.
d. b. and c.
e. a., b., and c.
Answer: e. a., b., and c.
◉ Your time horizon for financial planning is __________.
a. the time it takes to set goals.
b. the five-year plan.
c. the time it takes to realize goals.
d. life long.
e. approximately 65 years.
,Answer: d. life long.
◉ Individual factors may affect all the following financial situations
EXCEPT __________.
a. inflation.
b. income.
c. income needs.
d. risk tolerance.
e. wealth.
Answer: a. inflation.
◉ Periods of contraction in the economy often lead to __________.
a. reduced returns on investment.
b. an increase in the employment rate.
c. growth in job creation.
d. greater consumption.
e. greater participation in the capital markets.
Answer: a. reduced returns on investment.
◉ An effect of deflation is that your money __________.
,a. is worth more and buys more.
b. is worth less and buys less.
c. has less purchasing power.
d. is less useful as a medium of exchange.
e. is more stable.
Answer: a. is worth more and buys more.
◉ Because of inflation, the school supplies you bought for $20 last
year now cost __________.
a. $19.95.
b. $10.
c. $15.
d. $30.
e. $12.95.
Answer: d. $30.
◉ In financial planning, effective goals are __________.
a. timely.
b. specific and measurable.
, c. realistic and attainable.
d. b. and c.
e. a., b., and c.
Answer: e. a., b., and c.
◉ Financial advisors may assist through all the following services
EXCEPT __________.
a. tax planning.
b. career planning.
c. estate planning.
d. investment planning.
e. business financial planning.
Answer: b. career planning.
◉ Characteristics of financial advisors to look for include __________.
a. manner of compensation.
b. ability to give subjective advice.
c. professional training.
d. a. and c.
e. a., b., and c.
