Financial Planning and Insurance study Guide questions and answers/ FINANCE 390:341 Midterm Study Guide 2022 update

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Financial Planning and Insurance Study Guide 1. A good financial planning report must include an analysis of all 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 2. The five steps in the financial management process outlined by the authors include the following EXCEPT: a. Establish goals b. Collect data c. Measure performance d. Establish living wills 3. Match the terms in column A with the description in column B. A B a. Risk management 1. Boosts investment return by deferring taxes b. Marketability of borrowing 2. Earning rate of return greater than the cost c. Liquidity 3. Protecting ground gained without giving up much in return d. Tax leverage 4. Irrevocable life insurance trust e. Estate freeze 5. Ability to turn investment quickly into cash with little or no loss f. Estate tax-free wealth transfer 6. Ability to quickly dispose of an investment g. Leverage 7. Transfer asset growth to next generation 4. Which of the following is NOT part of the definition of an Investment Advisor as defined by the Investment Advisers Act of 1940 (the Act)? a. provides advice regardin [Show More]

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