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4G 4G 1:490 0 0 d 80 1. Choose the BEST answer to define assets. a. Assets are things that are owned. b. Assets are things that we owe. c. Assets are things that are owned that have value. d. Assets are things that have value. 2. Which of the following careers would be possible choices for someone interested in money and finance? a. Social worker c. psychologist b. Musician d. insurance actuary 3. Something you are working to achieve within a defined period of time is a(an): a. Ideal c. goal b. Value d. dream 4. You want to gain control over your income and spending so that will be able to save money. Which step will help you the most? a. Developing a budget c. developing a retirement plan b. Applying for a loan d. getting advice from a friend 5. Financial plans need to: a. Be changed during different stages in life b. Include income but not expenses c. Include income and eliminate risk d. To be approved by an accountantActivity II - Directions: On a sheet of paper, answer the following questions: (5 points each) 1. Assume that you are about to enter the accumulation phase. Describe your short-term and long-term goals. Also, describe your risk tolerance at this stage of your life cycle. Can you identify specific investments that are consistent and that will help you attain your listed goals? 2. What should be the risk and return objectives of the individual at each phase?Activity Ill - Directions: Match the area of personal finance in column A with its common sources in column B by writing the letter on the left side of column A (A) Area of (B) Description Personal Finance _1 Spending A. Health insurance 2 Investing B. Credit card payment 3 Protection C. Pensions 4 Income D. Money market securities 5 Saving E. Mutual funds