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BUSI 352 Retirement Planning Final Exam Questions With Actual Correct Answers
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BUSI 352 Retirement Planning Final Exam Questions With Actual Correct Answers
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BUSI 352 Retirement Planning FinalExam Questions With Actual Correct
Answers
A Good Financial Planning Report must include an analysis of the following EXCEPT:
A.) Where you are now
B.) Where you want to be
C.) Why you failed previously
D.) How to Reach your Goals CORRECT ANSWERS C.) Why you failed previously
Usual Financial Planning Goals include the Following EXCEPT:
A.) Retirement Planning
B.) Current Lifestyle
C.) Career Planning
D.) Estate Planning CORRECT ANSWERS C.) Career Planning
Which of the following is true regarding the contents of a financial plan?
A.) The length of the presentation should always be the same, regardless of the
contents of the plan.
B.) Once the plan is in place, it should not be changed
C.) Checklists are usually a bad idea in the plan
D.) The Plan should have a discussion of how to achieve goals CORRECT ANSWERS
D.) The plan should have a discussion of how to achieve goals
The 6 Steps in the financial management process outline by the authors include the
following EXCEPT:
A.) Establish Goals
B.) Collect Data
C.) Measure Performance
D.) Establish Living Wills CORRECT ANSWERS D.) Establish Living Wills
Which of the following is true regarding risk?
A.) Attitudes towards risk are east to measure
B.) defining the nature of risk is objective for each person
C.) Attitudes about risk are likely to change over a persons lifetime
D.) Risk attitudes are due to factors that are relatively east to deal with CORRECT
ANSWERS C.) Attitudes about risk are likely to change over a persons lifetime
Which of the following statements is true regarding financial objectives?
, A.) Good Financial Objectives are stated in aspirational terms
B.) All financial objectives have a short time horizon
C.) After they have been identified, they should be prioritized
D.) Once identified, they do no need to be revisited CORRECT ANSWERS C.) After
they have been identified, they should be prioritized
Which of the following is true regarding developing a financial plan?
A.) This involves budgeting income and expenses
B.) If a client needs an emergency find, no recommendations are needed
C.) Estimating returns should not be needed
D.) The Planner should guard against projections of the client's expected income
CORRECT ANSWERS A.) This involves budgeting income and expenses
Which of the following is true regarding Taxes?
A.) High tax brackets indicate planning opportunities
B.) It is not possible to shift income through gifting
C.) It is not really possible to save on taxes by deferring income
D.) It is not possible to transfer wealth through generations tax free CORRECT
ANSWERS A.) high tax brackets indicate planning opportunities
Which of the following is NOT a part of the definition of an investment adviser as
defined by the investment ad visor act of 1940?
A.) Provides advice regarding securities
B.) Is in the business of providing advice
C.) Holds a CFP or series 7 license
D.) receives compensation for advice CORRECT ANSWERS C.) Holds a CFP or series
7 license
The Act defines compensation as
A.) Commission only
B.) Fees only
C.) Receipt of any economic benefit
D.) 12(b) 1 fees only CORRECT ANSWERS C.) receipt of any economic benefit
Which of the following is NOT exempt from the definition of an investment adviser
A.) publisher of the local newspaper, the daily beagle
B.) Insurance agent who advises clients about no load mutual funds
C.) those who advise clients solely about U.S. Treasury Obligations
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