Multiple Choice
Identify the
letter of the choice that best completes the statement or answers the question.
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1.
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Which
of the following factors can influence decisions? a. | Age | d. | Peers | b. | Values | e. | All of the
above | c. | Family | | | | |
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2.
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Which
of the following is a significant aspect of decision making in financial planning? a. | Alternatives do
not need to be examined | c. | Afer a decision
is made, results can be ignored | b. | All decsions only have a short-term
effect | d. | Every decision
made today affects decisions made in the future. | | | | |
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3.
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There
are Five Steps in the Financial Planning Process. What is the first step in the
process? a. | Create a
plan | d. | Set
goals | b. | Analyze information0 | e. | Make a decision and take action | c. | Monitor and
modify | | | | |
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4.
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What
is the purpose of goal setting in the financial planning process? a. | To provide
direction for planning and action | c. | To differentiate between needs and
wants | b. | To clarify goal ranges | d. | To facilitate decision-making | | | | |
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Matching
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There
are Six Steps in the Decision-Making process. Choose from the list below, the correct
Decision-Making Step. a. | Establish your criteria | d. | Make your decision | b. | Evaluate the
results | e. | Examine your
options | c. | Identify your goal | f. | Weigh your pros and cons | | | | |
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5.
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What
is Step 1 of the Decision-Making Process?
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6.
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What
is Step 2 of the Decision-Making Process?
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7.
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What
is Step 3 of the Decision-Making Process?
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8.
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What
is Step 4 of the Decision-Making Process?
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9.
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What
is Step 5 of the Decision-Making Process?
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10.
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What
is Step 6 of the Decision-Making Process?
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