Q1: The wealth manager of a divorced man of 55 years old should probably focus on making recommendation for :

I. Investment planning

II. Retirement planning

III. Health insurance planning

IV. Life insurance planning

V. Estate planning

a.

II, IV and V.

b.

III, IV and V.

c.

I, II and III.

d.

I, IV and V.

e.

II, III and V.

Q2: Which of the following is the FIRST step in the budgeting process ?

a.

List and categorize all fixed expenses.

b.

Minimize variable expenses.

c.

Estimate all income and expenses.

d.

Determine the amount of savings and investment.

e.

Increase amount of investment.

Q3: Which of the following statements about financial ratio analysis are CORRECT ?

I. Wealth accumulation and age are unrelated.

II. Financial ratios are closely related to changes in macroeconomic factors.

III. A higher savings ratio is generally preferred.

IV. The ratios for a mature family are generally better than those for a young family.

a.

I and II.

b.

II and IV.

c.

I and III.

d.

II, III and IV.

e.

I, II, and III.