1. Which of the following steps in the financial planning process is where the advisor identifies the strengths and weaknesses in the client's present financial condition? a. Establish and define the advisor-client relationship. b. Determine goals and gather data. c. Develop and present a plan. d. Analyze and evaluate the data.

2.Which of the following statements concerning ethics in business is correct? a. It is good public relations for a business. b. It is about creating a good image for a business. c. It is a luxury to indulge in after meeting the bottom line. d. It is about how people conduct business every day.

3. Which of the following is an appropriate investment for an emergency fund? A. a money market mutual fund B. bonds C.real estate D. stocks

4. Which of the following steps in the financial planning process is where the advisor reviews changes in the client's circumstances and the financial environment? A. Implement the plan. B. Monitor the plan. C. Establish and define the advisor-client relationship. D. Determine goals and gather data.

5. The liquidity ratio is A. total debt payments divided by gross income B, net worth divided by total assets C, liquid assets divided by total current debts D, net cash flow plus savings and investments divided by annual after-tax income