Name: Class: Date:
chaptervg1
Indicatevgwhethervgthevgstatementvgisvgtruevgorvgfalse.
1. Savingvg$400vgforvgavglarge,vgflat-screenvgTVvgwithinvgthevgnextvgfourvgmonthsvgisvganvgexamplevgofvgavgshort-termvggoal.
a. True
b. False
CopyrightvgCengagevgLearning.vgPoweredvgbyvgCogner Pagevg1
o.
,Name: Class: Date:
2. Commission-basedvgfinancialvgplannersvgchargevgfeesvgbasedvgonvgthevgcomplexityvgofvgthevgplanvgtheyvgprepare.
a. True
b. False
3. InvgthevgUnitedvgStates,vgsalariesvgtendvgtovgbevghighervginvgthevgNortheastvgandvgWestvgthanvginvgthevgSouth.
a. True
b. False
4. Settingvglong-vgandvgshort-termvgcareervggoalsvghelpsvginvgcareervgplanning.
a. True
b. False
5. Financialvgplanningvgtakesvgplacevginvgavgdynamicvgeconomicvgenvironmentvgcreatedvgbyvgthevgactionsvgofvgthevggovernment,vgb
usiness,vgandvgconsumers.
a. True
b. False
6. Youvgshouldvgdiscussvgyourvgfinancialvggoalsvgandvgattitudesvgtowardvgmoneyvgwithvgyourvgpartner.
a. True
b. False
7. Accumulatingvgwealthvgforvglatervgyearsvgisvgcalledvgestatevgplanning.
a. True
b. False
8. Itvgisvgeasyvgtovgchangevgyourvgpartner’svgfinancialvgstyle,vgsovgtherevgisvgnovgneedvgforvgfinancialvgplanningvgtovgresolvevg
conflictsvgregardingvgmoneyvgmatters.
a. True
CopyrightvgCengagevgLearning.vgPoweredvgbyvgCogner Pagevg2
o.
,Name: Class: Date:
b. False
9. Taxvgplansvgarevgcloselyvgtiedvgtovginvestmentvgplans.
a. True
b. False
10. Recessionsvgandvgfinancialvgcrisesvgwillvgalwaysvgresultvginvgjobvgloss.
a. True
b. False
11. Thevglongervgyouvgwaitvgtovgbeginvgretirementvgplanning,vgthevglessvgyouvgarevglikelyvgtovghavevginvgyourvgretirementvgfund.
a. True
b. False
12. Careervgplansvgshouldvgnotvgbevgchangedvgaftervglong-vgandvgshort-termvgcareervggoalsvgarevgset.
a. True
b. False
13. Youvgshouldvglimitvgyourvgspendingvgtovgnovgmorevgthanvg20vgpercentvgmorevgthanvgwhatvgyouvgearn.
a. True
b. False
14. Morganvghasvganvgannualvgincomevgofvg$45,000vgandvgspendsvg$30,000vgforvgcurrentvgneeds.vgMorgan’svgaveragevgprope
nsityvgtovgconsumevgisvg80vgpercent.
a. True
b. False
15. Thevgmostvgeffectivevgwayvgtovgachievevgfinancialvgobjectivesvgisvgthroughvgpersonalvgfinancialvgplanning.
a. True
b. False
16. Tangiblevg(physical)vgassetsvgarevgearningvgassetsvgthatvgarevgheldvgforvgthevgreturnsvgtheyvgpromise.
a. True
b. False
17. Twovgpeoplevgwithvgsignificantlyvgdifferentvgincomesvgcanvghavevgequalvgaveragevgpropensitiesvgtovgconsumevgbeca
usevgofvgdifferencesvginvgtheirvgstandardvgofvgliving.
a. True
b. False
18. Thevgneedvgforvgfinancialvgplanningvgdeclinesvgasvgyourvgincomevgincreases.
a. True
b. False
CopyrightvgCengagevgLearning.vgPoweredvgbyvgCogner Pagevg3
o.
, Name: Class: Date:
19. Retirementvgplanningvgincludesvgtakingvgadvantagevgofvgandvgmanagingvgemployer-sponsoredvgbenefits.
a. True
b. False
20. Geographicvgfactorsvgaffectvgyourvgearningvgpower.
a. True
b. False
21. Fee-onlyvgfinancialvgplannersvgearnvgcommissionsvgforvgthevgproductsvgtheyvgsell.
a. True
b. False
22. Maritalvgstatusvgaffectsvgthevgincomevglevelvgofvgindividuals.
a. True
b. False
23. Yourvgpurchase,vgsaving,vginvestment,vgandvgretirementvgplansvgandvgdecisionsvgarevgnotvginfluencedvgbyvgthevgpresentvgstat
evgofvgthevgeconomy.
a. True
b. False
24. Forvgemployeesvgofvglargevgfirms,vgmanagingvgemployeevgbenefitsvgisvganvgimportantvgpartvgofvgfinancialvgplanning.
a. True
b. False
25. Short-
termvgplanningvgshouldvgincludevgcreatingvgandvgmaintainingvganvgemergencyvgfundvgwithvgatvgleastvgsixvgmonths’vgworthvgofvgi
ncome.
a. True
b. False
26. Thevgfederalvggovernmentvgdelegatesvgitsvgregulationvgofvgeconomicvgactivityvgfunctionvgtovgbusinessesvgandvgconsumers.
a. True
b. False
27. Thevgsupportvgofvgphilanthropicvgorganizationsvgisvgavgmaterialvgitemvgthatvgcontributesvgtovgourvgqualityvgofvglife.
a. True
b. False
28. Thevgaveragevgpropensityvgtovgconsumevgisvgcommonlyvgviewedvgasvgavgkeyvgdeterminantvgofvgstandardvgofvgliving.
a. True
b. False
CopyrightvgCengagevgLearning.vgPoweredvgbyvgCogner Pagevg4
o.
chaptervg1
Indicatevgwhethervgthevgstatementvgisvgtruevgorvgfalse.
1. Savingvg$400vgforvgavglarge,vgflat-screenvgTVvgwithinvgthevgnextvgfourvgmonthsvgisvganvgexamplevgofvgavgshort-termvggoal.
a. True
b. False
CopyrightvgCengagevgLearning.vgPoweredvgbyvgCogner Pagevg1
o.
,Name: Class: Date:
2. Commission-basedvgfinancialvgplannersvgchargevgfeesvgbasedvgonvgthevgcomplexityvgofvgthevgplanvgtheyvgprepare.
a. True
b. False
3. InvgthevgUnitedvgStates,vgsalariesvgtendvgtovgbevghighervginvgthevgNortheastvgandvgWestvgthanvginvgthevgSouth.
a. True
b. False
4. Settingvglong-vgandvgshort-termvgcareervggoalsvghelpsvginvgcareervgplanning.
a. True
b. False
5. Financialvgplanningvgtakesvgplacevginvgavgdynamicvgeconomicvgenvironmentvgcreatedvgbyvgthevgactionsvgofvgthevggovernment,vgb
usiness,vgandvgconsumers.
a. True
b. False
6. Youvgshouldvgdiscussvgyourvgfinancialvggoalsvgandvgattitudesvgtowardvgmoneyvgwithvgyourvgpartner.
a. True
b. False
7. Accumulatingvgwealthvgforvglatervgyearsvgisvgcalledvgestatevgplanning.
a. True
b. False
8. Itvgisvgeasyvgtovgchangevgyourvgpartner’svgfinancialvgstyle,vgsovgtherevgisvgnovgneedvgforvgfinancialvgplanningvgtovgresolvevg
conflictsvgregardingvgmoneyvgmatters.
a. True
CopyrightvgCengagevgLearning.vgPoweredvgbyvgCogner Pagevg2
o.
,Name: Class: Date:
b. False
9. Taxvgplansvgarevgcloselyvgtiedvgtovginvestmentvgplans.
a. True
b. False
10. Recessionsvgandvgfinancialvgcrisesvgwillvgalwaysvgresultvginvgjobvgloss.
a. True
b. False
11. Thevglongervgyouvgwaitvgtovgbeginvgretirementvgplanning,vgthevglessvgyouvgarevglikelyvgtovghavevginvgyourvgretirementvgfund.
a. True
b. False
12. Careervgplansvgshouldvgnotvgbevgchangedvgaftervglong-vgandvgshort-termvgcareervggoalsvgarevgset.
a. True
b. False
13. Youvgshouldvglimitvgyourvgspendingvgtovgnovgmorevgthanvg20vgpercentvgmorevgthanvgwhatvgyouvgearn.
a. True
b. False
14. Morganvghasvganvgannualvgincomevgofvg$45,000vgandvgspendsvg$30,000vgforvgcurrentvgneeds.vgMorgan’svgaveragevgprope
nsityvgtovgconsumevgisvg80vgpercent.
a. True
b. False
15. Thevgmostvgeffectivevgwayvgtovgachievevgfinancialvgobjectivesvgisvgthroughvgpersonalvgfinancialvgplanning.
a. True
b. False
16. Tangiblevg(physical)vgassetsvgarevgearningvgassetsvgthatvgarevgheldvgforvgthevgreturnsvgtheyvgpromise.
a. True
b. False
17. Twovgpeoplevgwithvgsignificantlyvgdifferentvgincomesvgcanvghavevgequalvgaveragevgpropensitiesvgtovgconsumevgbeca
usevgofvgdifferencesvginvgtheirvgstandardvgofvgliving.
a. True
b. False
18. Thevgneedvgforvgfinancialvgplanningvgdeclinesvgasvgyourvgincomevgincreases.
a. True
b. False
CopyrightvgCengagevgLearning.vgPoweredvgbyvgCogner Pagevg3
o.
, Name: Class: Date:
19. Retirementvgplanningvgincludesvgtakingvgadvantagevgofvgandvgmanagingvgemployer-sponsoredvgbenefits.
a. True
b. False
20. Geographicvgfactorsvgaffectvgyourvgearningvgpower.
a. True
b. False
21. Fee-onlyvgfinancialvgplannersvgearnvgcommissionsvgforvgthevgproductsvgtheyvgsell.
a. True
b. False
22. Maritalvgstatusvgaffectsvgthevgincomevglevelvgofvgindividuals.
a. True
b. False
23. Yourvgpurchase,vgsaving,vginvestment,vgandvgretirementvgplansvgandvgdecisionsvgarevgnotvginfluencedvgbyvgthevgpresentvgstat
evgofvgthevgeconomy.
a. True
b. False
24. Forvgemployeesvgofvglargevgfirms,vgmanagingvgemployeevgbenefitsvgisvganvgimportantvgpartvgofvgfinancialvgplanning.
a. True
b. False
25. Short-
termvgplanningvgshouldvgincludevgcreatingvgandvgmaintainingvganvgemergencyvgfundvgwithvgatvgleastvgsixvgmonths’vgworthvgofvgi
ncome.
a. True
b. False
26. Thevgfederalvggovernmentvgdelegatesvgitsvgregulationvgofvgeconomicvgactivityvgfunctionvgtovgbusinessesvgandvgconsumers.
a. True
b. False
27. Thevgsupportvgofvgphilanthropicvgorganizationsvgisvgavgmaterialvgitemvgthatvgcontributesvgtovgourvgqualityvgofvglife.
a. True
b. False
28. Thevgaveragevgpropensityvgtovgconsumevgisvgcommonlyvgviewedvgasvgavgkeyvgdeterminantvgofvgstandardvgofvgliving.
a. True
b. False
CopyrightvgCengagevgLearning.vgPoweredvgbyvgCogner Pagevg4
o.