Personal Financial Planning ED.15 by Randy Billingsley, Lawrence J. Gitman Michael D. Joehnk (Complete And Verified Study material) (450pages) LEARNEXAMS

1. Standard of living is defined as the necessities, comforts, and luxuries desired by an individual or group. ANS: T PTS: 1 DIF: Easy OBJ: LO: 1-1 NAT: BUSPROG: Reflective thinking STA: DISC: Financial Markets and Interest Rates KEY: Bloom's: Knowledge 2. Your average propensity to consume is the percentage of each dollar of income, on the average, that is spent for current needs rather than savings. ANS: T PTS: 1 DIF: Easy OBJ: LO: 1-1 NAT: BUSPROG: Reflective thinking STA: DISC: Financial Markets and Interest Rates KEY: Bloom's: Knowledge 3. A good financial plan completed when one is in their 30s will typically last a lifetime. ANS: F PTS: 1 DIF: Challenging OBJ: LO: 1-2 NAT: BUSPROG: Reflective thinking STA: DISC: Financial Markets and Interest Rates KEY: Bloom's: Synthesis 4. Financial planning is a continuing, life-long process. ANS: T PTS: 1 DIF: Easy OBJ: LO: 1-2 NAT: BUSPROG: Reflective thinking STA: DISC: Financial Markets and Interest Rates KEY: Bloom's: Comprehension 5. Financial planning can improve your standard of living. ANS: T PTS: 1 DIF: Easy OBJ: LO: 1-1 NAT: BUSPROG: Reflective thinking STA: DISC: Financial Markets and Interest Rates KEY: Bloom's: Comprehension 6. Current consumption is inversely related to saving for the future. ANS: T PTS: 1 DIF: Challenging OBJ: LO: 1-1 NAT: BUSPROG: Reflective thinking STA: DISC: Financial Markets and Interest Rates KEY: Bloom's: Analysis 7. About 20% of Americans say retirement planning is their most p