1. Daniel has assets worth about $3,000,000. He has written a legal document which specifies that all his money go to his children. After Daniel dies, there is a legal process to determine whether his document specifying how his assets be divided is valid. What is the legal process called? a. An estate b. A will c. A trust d. Probate 2. Eason is applying for a loan form a bank. The bank has checked that Eason owns a house worth $5 million and a motor car with a trade-in-value of $50,000 together with other personal possessions worth about $100,000. Which of the 5 C's of credit is the bank looking at? a. Capacity b. Character c. Capital d. Collateral 3. Jason will soon retire in next April. He has $1,200,000 in saving and investment accounts and has his own house that is worth $5 million. Which step in the financial planning process does this situation demonstrate: a. developing his financial goals b. determining his current financial situation c. identifying and evaluating his alternative course of action d. reviewing his financial plan 4. For most mutual funds, the various management fees and fund's operating costs are generally referred to as a/an: a. expense turnover b. expense ratio c. investment ratio d. management ratio