Question 1

When you get married, by law you must have joint credit card accounts instead of individual accounts.

Accepted Answer

A) True 
 B)False  False

Question 2

Medical insurance can keep medical expenses from becoming a catastrophic financial event.

Accepted Answer

A) True 
 B)False  True

Question 3

What is the importance of understanding the financial life cycle?

Accepted Answer

A)  It allows you to be proactive in financial planning to prepare for your changing needs. 
B)  It allows you to take advantage of the time-value-of-money. 
C)  It helps you in achieving your long-term financial goals. 
D)  All of the above are correct. 
E)  Only A and C are correct. 
A)  It allows you to be proactive in financial planning to prepare for your changing needs. 
B)  It allows you to take advantage of the time-value-of-money. 
C)  It helps you in achieving your long-term financial goals. 
D)  All of the above are correct. 
E)  Only A and C are correct. D

Question 4

In spite of the fact that many younger couples have high living expenses at first, it's is still vitally important to start a savings plan.

Accepted Answer

A) True 
 B)False

Question 5

Women are more likely to have a pension than men.

Accepted Answer

A) True 
 B)False

Question 6

Buying a home is one of the smartest investments you can make. What are the proper steps necessary to make sure you do it right?

Accepted Answer

Part of financial planning is looking in

Question 7

The key to keeping the cost of home and auto insurance down is to keep your deductibles as high as you can afford.

Accepted Answer

A) True 
 B)False

Question 8

Couples should have many conversations about their views on family finances prior to becoming engaged or married.

Accepted Answer

A) True 
 B)False

Question 9

Given the current divorce rate in the country if one spouse has good credit established, then it is equally important for the other spouse to establish credit in his or her own name.

Accepted Answer

A) True 
 B)False

Question 10

What is a smart thing for married women to do regarding their personal financial situation?

Accepted Answer

A)  Make sure their plan recognizes that women live longer than men and that half of all marriages end in divorce. 
B)  Be involved in decisions regarding their husband's employee benefits and retirement plans. 
C)  See a financial planner about any specific concerns. 
D)  All of the above are correct. 
E)  Only A and C are correct. 
A)  Make sure their plan recognizes that women live longer than men and that half of all marriages end in divorce. 
B)  Be involved in decisions regarding their husband's employee benefits and retirement plans. 
C)  See a financial planner about any specific concerns. 
D)  All of the above are correct. 
E)  Only A and C are correct.

Question 11

It is never a good idea for both spouses to be actively involved in and aware of the family's finances. This can lead to arguments.

Accepted Answer

A) True 
 B)False

Question 12

How can someone plan for a major illness?

Accepted Answer

Part of financial planning is being prep

Question 13

How should a family plan for having children from a personal financial perspective?

Accepted Answer

By being proactive, a family can plan fo

Question 14

Part of life event number 1, getting started, is laying the groundwork for your financial goals. Which of the following is part of laying the groundwork?

Accepted Answer

A)  Establishing a budget. 
B)  Checking your credit score. 
C)  Establishing an emergency fund. 
D)  All of the above are correct. 
E)  Only A and B are correct. 
A)  Establishing a budget. 
B)  Checking your credit score. 
C)  Establishing an emergency fund. 
D)  All of the above are correct. 
E)  Only A and B are correct.

Question 15

Which of the following statements is correct?

Accepted Answer

A)  You should spend less than you earn and budget your money. 
B)  You should know the costs of borrowing. 
C)  You should understand the difference between good and bad debt. 
D)  You should make sure that you can repay what you borrow. 
E)  All of the above statements are correct. 
A)  You should spend less than you earn and budget your money. 
B)  You should know the costs of borrowing. 
C)  You should understand the difference between good and bad debt. 
D)  You should make sure that you can repay what you borrow. 
E)  All of the above statements are correct.

Question 16

Financial goals must be reexamined periodically and adjusted to accommodate changes in your life.

Accepted Answer

A) True 
 B)False

Question 17

When you get married it is a good time to evaluate your and your spouse's financial goals and come up with a set of joint financial goals.

Accepted Answer

A) True 
 B)False

Question 18

Procrastination is the enemy of the power of compounding.

Accepted Answer

A) True 
 B)False

Question 19

What does the phrase "living below your means" really mean and how is it related to wealth building?

Accepted Answer

Living below your means is simply saving

Question 20

The earlier you start saving for your retirement, the easier it will be to reach your financial goals.

Accepted Answer

A) True 
 B)False

When you get married, by law you must have joint credit card accounts instead of individual accounts.

Medical insurance can keep medical expenses from becoming a catastrophic financial event.

What is the importance of understanding the financial life cycle?

In spite of the fact that many younger couples have high living expenses at first, it's is still vitally important to start a savings plan.

Women are more likely to have a pension than men.

Buying a home is one of the smartest investments you can make. What are the proper steps necessary to make sure you do it right?

The key to keeping the cost of home and auto insurance down is to keep your deductibles as high as you can afford.

Couples should have many conversations about their views on family finances prior to becoming engaged or married.

Given the current divorce rate in the country if one spouse has good credit established, then it is equally important for the other spouse to establish credit in his or her own name.

What is a smart thing for married women to do regarding their personal financial situation?

It is never a good idea for both spouses to be actively involved in and aware of the family's finances. This can lead to arguments.

How can someone plan for a major illness?

How should a family plan for having children from a personal financial perspective?

Part of life event number 1, getting started, is laying the groundwork for your financial goals. Which of the following is part of laying the groundwork?

Which of the following statements is correct?

Financial goals must be reexamined periodically and adjusted to accommodate changes in your life.

When you get married it is a good time to evaluate your and your spouse's financial goals and come up with a set of joint financial goals.

Procrastination is the enemy of the power of compounding.

What does the phrase "living below your means" really mean and how is it related to wealth building?

The earlier you start saving for your retirement, the easier it will be to reach your financial goals.

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: The Role of Open Credit

Using Consumer Loans: The Role of Planned Borrowing

The Home and Automobile Decision

Life and Health Insurance

Property and Liability Insurance

Investment Basics

Securities Markets

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: An Easy Way to Diversify

Retirement Planning

Estate Planning: Saving Your Heirs Money and Headaches

Filters

Exam 18: Financial Life Events Fitting the Pieces Together

When you get married, by law you must have joint credit card accounts instead of individual accounts.

Medical insurance can keep medical expenses from becoming a catastrophic financial event.

What is the importance of understanding the financial life cycle?

In spite of the fact that many younger couples have high living expenses at first, it's is still vitally important to start a savings plan.

Women are more likely to have a pension than men.

Buying a home is one of the smartest investments you can make. What are the proper steps necessary to make sure you do it right?

The key to keeping the cost of home and auto insurance down is to keep your deductibles as high as you can afford.

Couples should have many conversations about their views on family finances prior to becoming engaged or married.

Given the current divorce rate in the country if one spouse has good credit established, then it is equally important for the other spouse to establish credit in his or her own name.

What is a smart thing for married women to do regarding their personal financial situation?

It is never a good idea for both spouses to be actively involved in and aware of the family's finances. This can lead to arguments.

How can someone plan for a major illness?

How should a family plan for having children from a personal financial perspective?

Part of life event number 1, getting started, is laying the groundwork for your financial goals. Which of the following is part of laying the groundwork?

Which of the following statements is correct?

Financial goals must be reexamined periodically and adjusted to accommodate changes in your life.

When you get married it is a good time to evaluate your and your spouse's financial goals and come up with a set of joint financial goals.

Procrastination is the enemy of the power of compounding.

What does the phrase "living below your means" really mean and how is it related to wealth building?

The earlier you start saving for your retirement, the easier it will be to reach your financial goals.

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: The Role of Open Credit

Using Consumer Loans: The Role of Planned Borrowing

The Home and Automobile Decision

Life and Health Insurance

Property and Liability Insurance

Investment Basics

Securities Markets

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: An Easy Way to Diversify

Retirement Planning

Estate Planning: Saving Your Heirs Money and Headaches

Filters