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FP 100T Social Responsibility / tutorialrank.com

For more course tutorials visit<br>www.tutorialrank.com<br><br>FP 100T Week 1 WileyPLUS Weekly Exam<br>In this graded assignment, you are assessed on the content covered in this weeksu2019 readings, activities, and assignments. To help you prepare, it is recommended that you first complete this weeku2019s Learning Path and Self-Test Learning Activities prior to completing this exam.<br>

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FP 100T Social Responsibility / tutorialrank.com

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  1. FP 100T Week 1 WileyPLUS Weekly Exam For more course tutorials visit www.tutorialrank.com FP 100T Week 1 WileyPLUS Weekly Exam In this graded assignment, you are assessed on the content covered in this weeks’ readings, activities, and assignments. To help you prepare, it is recommended that you first complete this week’s Learning Path and Self-Test Learning Activities prior to completing this exam. Complete the Week 1 Exam covering this week’s assigned readings: “Ch. 1: The Financial Planning Process” “Ch. 2: Financial Planning Tools: Personal Financial Statements and the Time Value of Money” Note: Work submitted in WileyPLUS does not count toward attendance. Be sure to post at least two times each week in the online classroom to avoid being auto-dropped from the course. Question 1

  2. Your answer is correct. Which of the following in NOT one of the recommended SMART guidelines for personal financial goals? Specific Realistic Attainable Manageable

  3. Attainable Manageable Question 2 Your answer is correct. Which of the following describes a financial advisor who is paid based on a percentage of products sold or purchased by clients? Fee-based Commission-only

  4. Fee plus commission Fee-only Question 3 Your answer is correct.

  5. A comprehensive financial plan includes three steps: establishing a firm foundation, securing basic needs, and building and protecting wealth. setting long-term goals. monitoring progress. setting short-term goals.

  6. Question 4 Your answer is correct. Which of the following would NOT be a major factor when choosing a personal financial planner? education affiliation reputation

  7. certification Question 5 Your answer is correct. The federal funds rate is the rate that credit card issuers use as the teaser rate. banks charge customers for short-term loans. banks charge each other for short-term loans. the Federal Reserve charges banks for short-term loans.

  8. Question 6 Your answer is correct. An expansion is a phase in the economic cycle that is characterized by decreasing business investment and decreasing employment opportunities. increasing business investment and decreasing employment opportunities. increasing business investment and increasing employment opportunities. decreasing business investment and increasing employment opportunities.

  9. Question 7 Your answer is correct. Which of the following describes a Certified Financial Planner (CFP®)? A CFP® has passed a rigorous exam. A CFP® has worked in the banking industry. A CFP® has at least five years of experience. A CFP® majored in financial planning in college. Question 8

  10. Your answer is correct. In deciding whether to go to graduate school, evaluating the benefit based on the potential change in your earnings is an example of sensitivity analysis. future value. opportunity cost. marginal reasoning.

  11. Question 9 Your answer is correct. The financial planning process includes five steps. Four of the steps are listed below:

  12. Analyze your current financial status. Implement your financial plan. Monitor your progress and revise your plan as needed. Organize your financial information and set short-term and long term goals. What is the missing step? Identify and evaluate alternative strategies for meeting your goals.

  13. Understand the personal financial planning process. Acquire the necessary decision-making skills and tools. Build wealth and protection against emergencies. Question 10

  14. Your answer is correct. In a fee-based arrangement, the planner is compensated with an annual fee that is usually a set amount for all clients.

  15. based on the number of financial products purchased. waived for large investment portfolios. based on the size of the client’s asset portfolio being managed. Question 11

  16. Your answer is correct. Which of the following is NOT one of the steps in the personal financial planning process? Purchase life insurance. Implement a plan for achieving goals.

  17. Identify and evaluating alternative strategies for achieving goals. Develop short-term and long-term financial goals. Question 12 Your answer is correct.

  18. In a __________ arrangement, the planner is compensated for every financial product sold but does not receive any payment for developing a personal financial plan. fee offset by commission commission only fee plus commission

  19. fee only Question 13 Your answer is correct.

  20. Which of the following has passed a comprehensive examination covering all the topic areas considered necessary in the practice of financial planning and has at least three years of work experience in the field? Certified Public Accountant (CPA) Certified Financial Planner (CFP®) Accredited Financial Planner (AFC)

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