Students of Personal Financial Planning using Altfest’s 2nd Edition would find this review especially useful since it is accompanied by a Test Bank, which is a perfect tool for revision. It is a valuable tool ensuring that you comprehend the central ideas during your course and excel at the key assignments. Some tests in the Test Bank will prepare you in an orthodox manner for the targeted exams by helping you comprehend fundamental aspects of personal finance and studying in a calm environment.
How the Test Bank Supports Your Learning
The Test Bank for Personal Financial Planning contains questions that comprehensively address the highlighted or core areas of the textbook. If you’re learning about financial goals, investments, or even retirement planning, the Test Bank helps to ensure you understand how all the concepts are interrelated. There are several questions tailored at different levels such as the easy comprehension level, all the way to indicative levels of analytical problems which assist in fortifying your learning and thinking skills.
Key Topics Covered in the Test Bank
Budgeting: The best word to summarise this would be, ‘budget’. It guides you on how to plan your finances properly, by setting targets and goals for your spending habits.
Risk Management: This is a pretty straightforward concept. It teaches how risk can be assessed and even managed in financially-centred areas.
Investments: Investing in different opportunities such as stocks, bonds and others in diverse finance areas offers insight into various investments.
Retirement Planning: An understanding of retirement options and how strategies can be used effectively helps in designing a significant financial outlook in the future.
Taxes: Understand the tax structures and their influence on the choices a person makes about finances.
Estate Planning: Understand how best to transfer wealth, achieve tax minimization, and provide the beneficiaries with financial security.
Why You Need This Test Bank
The Test Bank’s general layout facilitates learning. It is always easy to incorporate studying into your daily activities. You can be a busy person, but the Test Bank helps you learn by presenting a necessary practice well to cope with the challenges of real working situations.
Convenience and Flexibility
Once you purchase the Test Bank, you can straight away start practicing whatever skills you believe are necessary. There is no shipping and handling to worry about, just grab it and download it. This convenience is perfect for students who are preoccupied with a lot of activities and need to prepare fast and effectively.
Every Chapter’s Full Review
The Test Bank is fully synchronized with the chapters of Altfest’s book; hence there is no omission of any core content. The parts are systematically structured so as to improve the revision of the principles of finance as explained in the textbook, assisted by the ability to recall facts accurately and quickly during examinations.
Enhance Your Results And Self-Esteem
Using the Test Bank helpsperiod than question practice. It explores the idea of understanding why the variperiodlving this problem are employed. This will in turn boost your confidence and performance in returning any exam questions.
Summary
Test Bank for Personal Financial Planning 2nd Edition by Altfest provides an effective practical skill that focuses on the overwhelming elements of personal finance. It also discusses essential aspects such as budgeting, investments, retirement planning, etc in great detail. It is the ideal source for prosperity in your course and for further studies due to the convenience of accessibility, varied methods of study, and an all-inclusive approach.
Test Bank For Personal Financial Planning 2nd Edition By Altfest
Test Bank Questions, Chapter 2
The time value of money is best defined as:
The compensation provided for investing money for a given period.
The concept is that investing is always superior to consumption.
The concept is that the value of the exchange rate varies over time.
The compensation provided for carefully timing one’s investments.
None of the above.
Answer: a
You are given the choice between receiving $100,000 today or $100,000 in one year. Which of the following statements is accurate?
You would prefer to receive $100,000 today, as you could invest the money and in one year have much more than the original $100,000.
You would prefer to receive $100,000 today, as the present value of receiving $100,000 in one year is much less than $100,000.
You would prefer to receive $100,000 today due to the time value of money.
All of the above statements are accurate.
None of the above statements are accurate.
Answer:d
If the value of the principal today is $25,000 and the interest rate is 22.5%, what is the value of the principal at the end of one year?
$5,625
$30,250
$5,825
$30,625
None of the above.
Answer: d
If the value of the principal today is $10,250 and the interest rate is 1.5%, what is the value of the principal at the end of three years?
$10,540.45
$10,718.20
$10,900.35
$12,245.45
$12,234.43
Answer: b
If the value of the principal today is $12,000 and the interest rate is 10.5%, what is the total compounding contribution at the end of two years?
$125.25
$100.56
$132.30
$450.50
None of the above.
Answer: c
If the value of the principal today is $25,250 and the interest rate is 2.25%, what is the total compounding contribution at the end of one year?
$225.25
$120.56
$2.13
$43.54
$0
Answer: e
If the value of the principal today is $1,560,250 and the interest rate is 11.25%, what is the total compounding contribution at the end of ten years?
$1,215,472.15
$1,560,250
$0
$2,430,966.30
None of the above.
Answer: a
If the value of the principal today is $2000 and the interest rate is 12.33%, what is the total simple interest income at the end of three years?
$2,739.80
$739.80
$2,657.30
$787.21
None of the above.
Answer: b
If the value of the principal today is $17,567 and the interest rate is 0.93%, what is the total simple interest income at the end of fifteen years?
$17,567
$2,540.60
$82,765.65
$300.56
None of the above.
Answer: b
If the value of the principal today is $10,000 and the interest rate is 21.22%, what is the total compound interest income at the end of six years?
$21,728.22
$25,567.43
$20,000.54
$45,067.22
None of the above.
Answer: a
If the value of the principal today is $230 and the interest rate is 1.33%, what is the total compound interest income at the end of 2 years?
$45.67
$22.54
$6.16
$5.78
None of the above.
Answer: c
The present value of a sum is:
The value of the sum at the end of a given period.
The value of the sum at the beginning of a given period.
The value of investing the sum at the beginning of the given period of time rather than at the end.
The value of investing the sum at the end of the given period of time rather than at the beginning.
None of the above.
Answer: b
The formula for present value is:
PV = FV(1 i)n
PV = FV(1 n)i
PV = FV / (1 n)i
PV = FV / (1 i)n
None of the above.
Answer: d
What is the present value of $100,500 to be received 23 years from now if the interest rate is 7.5 percent?
$19,044.58
$163,565.44
$16,447.34
$26,200.30
None of the above.
Answer: a
What is the present value of $25,250,300 to be received 73 years from now if the interest rate is 22.5 percent?
$10,454,550.25
$9.30
$12,566.60
$8,987,000.45
$8,500,000.25
Answer: b
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