7. Budget planning requires knowing: a. How to understand the terminology b. How to spend and save c. How to understand annuity pricing. d. How to follow the stock market. 8. An analysis of the personal balance sheet requires understanding the following concepts, except: a. Liquidity b. Debt Level c. Taxation Level d. Savings Rate 9. The present value of an annuity can be obtained by: a. Compounding cash flows and adding them up. b. Discounting and adding the individual cash flows of the annuity. c. Compounding assets. d. Reducing the present values of the annuity. 10. Key time value decisions for building your financial plan include: a. How much should I attempt to accumulate in savings for a future point in time? b. How much should I continue to spend? c. How much should I invest in an annuity? d. What type of employment should I go into