Q1.
The major categories in a personal financial statement is/are:
Q2.
(I) The goal of cash flow planning is to maximize net discretionary cash flow.
(II) For some clients, the budgeting process stifles risk-taking.
Q3.
Net Worth of a client is:
Q4.
According to the single-purpose view of financial planning, a life insurance agent who sells key employee life insurance to the owner of a small business might properly be called a financial planner.
Q5.
Total Assets of a client is:
Q6.
(I) Data gathering in the financial planning process typically entails more than asking the client a series of questions in order to fill out a form.
(II) One result of analyzing the strengths and weaknesses of a client’s present financial position may be the need for the planner to work with the client to revise the client’s goals and objectives.
Q7.
Which of the following expense is /are discretionary?
Q8.
What is client’s net cash flow?
Q9.
Cash-Flow Management consists of:
Q10.
Which of the following action/s that have no effect on net worth?
Q11.
A client started a business of Rs. 10, 00,000. Client’s total Assets value is Rs. 5, 00,000 and liabilities value is Rs. 3, 50,000. So what will be the client’s Net Worth?
Q12.
Which is not the correct answer of CFP Board’s guidelines?
Q13.
A financial plan developed for a high-income client is unacceptable unless it includes an analysis of the client’s cash-flow position.
Q14.
(I) A planner’s assumptions concerning inflation should be specifically stated in a comprehensive financial plan.
(II) Very short-term cash reserves should be placed in a money market account.
Q15.
Once a client has expressed an interest in having a financial plan developed, the first step in the process specified by the CFP Board is for the planner to analyze the client’s present financial position.
Q16.
(I) According to the basic accounting equation, it is impossible for cash to exceed net worth.
(II) The need for cash flow management is restricted to individuals in the lower and middle income groups.
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