Financial Planning || Acknowledged Answers 100%.
banker correct answers Someone who, individually or as a member of a company, operates an
establishment for the deposit or loan of money.
budget correct answers A detailed plan of income and expenses expected over a certain period of
time. A budget can provide guidelines for managing future investments and expenses.
financial plan correct answers A comprehensive strategy designed to help individuals achieve
specific financial goals and prepare for unexpected life challenges or events. Financial plans may
include investing, tax planning, asset allocation, risk management, retirement planning,
education funding, accumulation funding, estate planning, and insurance.
financial planner correct answers A professional who analyzes a client's overall financial
situation and develops a comprehensive plan that meets the client's goals and objectives.
insurance agent correct answers A person who is authorized by an insurance company to
represent that company in its dealings with applicants for insurance.
investment advisor correct answers An individual or firm that advises clients on investment
matters on a professional basis.
taxonomy correct answers A categorized list of words that are related to a particular topic.
wealth management correct answers A professional service that is the combination of
financial/investment advice, accounting/tax services, and legal/estate planning.
Certified Financial Planner (CFP) correct answers A certification mark for financial planners
conferred by the Certified Financial Planner Board of Standards. To receive authorization to use
the designation, the candidate must meet education, examination, experience, and ethics
, requirements; additionally, CFPs must pay an ongoing certification fee and complete continuing
education requirements.
quality of life correct answers The level of satisfaction or well-being a person has with life.
Quality of life reflects the difference between hopes or expectations and present experience. Life
expectations are usually adjusted so as to lie within the realm of what the individual perceives to
be possible. This enables people who have difficult life circumstances to maintain a reasonable
quality of life.
milestones correct answers Originally referring to markers in the road to allow travelers to know
how far they have traveled, the word milestones has expanded to include important events and
accomplishments that occur in the process of achieving a goal. Milestones allow us to evaluate
progress toward a final objective.
risk management correct answers The process of reducing or controlling financial risk, by using
such strategies as diversified investments, the purchasing of insurance policies, and control of
risky activities.
cost of living correct answers What it costs to live, on average, including the expenses for
housing, transportation, food, utilities, and insurance.
financial independence correct answers The ability of someone to manage his or her money in
such a way that he or she has sufficient funds to live his or her chosen lifestyle without assistance
from others.
needs correct answers Those things that are basic and necessary for a decent quality of life.
Needs include shelter, food, and clothing.
risk tolerance correct answers The degree of uncertainty you can personally handle in regard to a
negative change in the value of your investment portfolio. Your risk tolerance to your
investments will be either high or low
banker correct answers Someone who, individually or as a member of a company, operates an
establishment for the deposit or loan of money.
budget correct answers A detailed plan of income and expenses expected over a certain period of
time. A budget can provide guidelines for managing future investments and expenses.
financial plan correct answers A comprehensive strategy designed to help individuals achieve
specific financial goals and prepare for unexpected life challenges or events. Financial plans may
include investing, tax planning, asset allocation, risk management, retirement planning,
education funding, accumulation funding, estate planning, and insurance.
financial planner correct answers A professional who analyzes a client's overall financial
situation and develops a comprehensive plan that meets the client's goals and objectives.
insurance agent correct answers A person who is authorized by an insurance company to
represent that company in its dealings with applicants for insurance.
investment advisor correct answers An individual or firm that advises clients on investment
matters on a professional basis.
taxonomy correct answers A categorized list of words that are related to a particular topic.
wealth management correct answers A professional service that is the combination of
financial/investment advice, accounting/tax services, and legal/estate planning.
Certified Financial Planner (CFP) correct answers A certification mark for financial planners
conferred by the Certified Financial Planner Board of Standards. To receive authorization to use
the designation, the candidate must meet education, examination, experience, and ethics
, requirements; additionally, CFPs must pay an ongoing certification fee and complete continuing
education requirements.
quality of life correct answers The level of satisfaction or well-being a person has with life.
Quality of life reflects the difference between hopes or expectations and present experience. Life
expectations are usually adjusted so as to lie within the realm of what the individual perceives to
be possible. This enables people who have difficult life circumstances to maintain a reasonable
quality of life.
milestones correct answers Originally referring to markers in the road to allow travelers to know
how far they have traveled, the word milestones has expanded to include important events and
accomplishments that occur in the process of achieving a goal. Milestones allow us to evaluate
progress toward a final objective.
risk management correct answers The process of reducing or controlling financial risk, by using
such strategies as diversified investments, the purchasing of insurance policies, and control of
risky activities.
cost of living correct answers What it costs to live, on average, including the expenses for
housing, transportation, food, utilities, and insurance.
financial independence correct answers The ability of someone to manage his or her money in
such a way that he or she has sufficient funds to live his or her chosen lifestyle without assistance
from others.
needs correct answers Those things that are basic and necessary for a decent quality of life.
Needs include shelter, food, and clothing.
risk tolerance correct answers The degree of uncertainty you can personally handle in regard to a
negative change in the value of your investment portfolio. Your risk tolerance to your
investments will be either high or low
