FinLit Ch2.1 Questions

A(n) _______ involves specifying financial goals and describing in detail the spending, financing, and investing plans needed to reach those goals.

• personal financial plan
• individual retirement savings plan

• individual investment strategy

• personal debt management plan

Which of the following is not a component of a financial plan?

• A plan for investing

• A plan to manage risk

• A plan for retirement

• A plan to pay utility bills

A solid financial plan addresses how many key components?

• 5

• 7

• 3

• 10

A good financial plan can be compared to what?

• A portfolio

• A complicated quilt

• A builder's blueprint

• A compass

A personal financial plan should include _______.

• spending plans

• financial goals

• investing plans

• All of the above