Financial Planning Review Question Preview (ID: 14662)


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In choosing a career in finance, you should learn about your own abilities, interests, and personal qualities by taking________.
a) attitude tests and interest inventories
b) attitude tests
c) aptitude tests and interest inventories
d) skills test

The moral principles by which people conduct themselves personally, socially, and professionally are called_______.
a) morals
b) conduct
c) behavior
d) ethics

All property and assets owned by an individual or group is a(n)
a) inheritance
b) estate
c) trust
d) codicil

The accumulation and management of property during one’s lifetime and the distribution of one’s property at death is referred to as:
a) inheritance planning
b) trust management
c) estate planning
d) codicil provision

Through a ___________, a person states whether he or she wishes to be kept alive by artificial means if terminally ill.
a) living will
b) power of attorney
c) life insurance policy
d) trust manager

The legal right to act on your behalf when you need someone to handle your personal needs is called:
a) codicil inclusion
b) power of attorney
c) estate planning
d) living will

Sally has not received her inheritance from her grandmother's estate because her cousin has contested the will. The will is said to be in:
a) probate
b) execution
c) termination
d) limbo

In insurance, anything that may possibly cause a loss is known as a:
a) hazard
b) peril
c) liability
d) risk

A written outline of how the business will get money to start up and operate, and how the business will maintain financial operations and business records is a:
a) marketing plan
b) budget analysis
c) financial plan
d) business outline

A retirement plan funded in part by employers is considered a:
a) insurance policy
b) tax shelter
c) credit policy
d) pension plan

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