1. (TCO 1) The stages that an individual goes through based on age, financial needs, and family situation is called the: 

financial planning process

budgeting procedure

personal economic cycle

adult life cycle

tax planning process

2. (TCO 1) A lack of willingness to accept a variety of employment positions is a common career planning mistake associated with weak: 

common sense. 

communication. 

training. 

flexibility. 

perseverance. 

3.(TCO 1) The abilities to work well with numbers, possess problem-solving skills, and have physical dexterity are examples of: 

interests. 

survival skills. 

aptitudes. 

occupational attitudes. 

on-the-job training

4.(TCO 1) Which of the following situations is a person who could be insolvent? 

Assets $56,000; annual expenses $60,000 

Assets $78,000; net worth $22,000 

Liabilities $45,000; net worth $6,000 

Assets $40,000; liabilities $45,000 

Annual cash inflows $45,000; liabilities $50,000