4 Budgets & Balance Sheets

Market value refers to what something would be worth if you _____________.

Certificates that promises to repay a certain amount of money in the future.

A variety of financial assets managed by a professional?

a certificate that functions like an IOU?

Financial assets that are either cash or can be quickly converted to cash.

Items of value that a person owns.

Which of the following is a key component to risk management?

Which of the following are commonly used as investments for Section 529 College Plans?

A forecast of future cash flow and outflows

The legal process in which a court takes over finances when you are unable to pay your bills

Which is NOT a personal goal you should plan for?

Certificates that represent fractional ownership of a firm.

Anything on which we spend money.

Insurance helps manage your exposure to

A certificate representing fractional ownership of a company?

The process of planning all aspects of your personal finances is know as

Is the difference between your assets and liabilities.

The defining characteristic of a liquid asset is its ____________.

The difference in what you forecast to happen & what actually happens.

Which of the following in NOT a fixed expense

Giving up the opportunity to do something else with money.

Homes, rental property, and farms are all examples of ______________.

Money received from different sources

involves investing in financial assets from many different companies

A financial plan does NOT include

Liquid assets are those possessions that can be easily converted to.

Its value is determined by the worth of the firm that issued it

An object or home that could be sold for market value?

People should begin planning for retirement at age?

Most companies have millions of shares of these

A loan to be paid back at a maturity date

Which of the following is NOT a common type of investment?

Involves the issuer agreeing to pay interest to the buyer

Money pooled so investors can invest in financial assets from many different companies

This means ownership in something.

Goals you plan on accomplishing with in the next year.

Requires a greater minimum investment

Something you acquire with the ultimate goal of making money.