Exam 17: Synthesis of Financial Planning - Integrating the Components of a Financial Plan

List five areas that affect your financial plan.

What kind of insurance is automobile insurance?

Personal financing is good because it allows you to make purchases now without the full amount of cash on hand.

Maintaining all documents in a safe place and leaving instructions on their location is not necessary in the high-tech age.

Even though insurance costs cannot be used for building net worth, insurance should be given consideration before making investments.

There is a cost-benefit relationship for insurance protection, which means you could be underinsured or overinsured.

Financial documents should be

You will need to revise your financial plan if your financial position changes.

What is the disadvantage of retirement investments compared to other investments?

As time passes, your financial position and goals are likely to change, so you will need to revise your financial plan.

The more you spend, the less money you will have available for other purposes.

A budget is not intended to help you determine

The stocks of large, well-known firms tend to pay relatively stable dividends.

No financial plan is complete if it does not include a will.

Key documents for managing personal financing include

Which of the following is not related to documents used for planning financing?