FIN 202 FIN202 Module 1 Homework Solution (AAU Online)

FIN 202 FIN202 Module 1 Homework Solution (AAU Online)

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PART I

1.Describe the S-M-A-R-T approach to financial planning goal setting.  Give an example.

2.Linda Ashworth is trying to decide whether to keep her money in a savings account or in a mutual fund.  What would you tell her to help her analyze her decision?

3.What is meant by the term, "Time Value of Money?"

4.What steps should a person take when planning a career?

5.What are the six steps in the financial planning process?

6.What types of risks are commonly associated with personal financial decisions?  How can these risks be evaluated and minimized to reduce personal and financial difficulties?

7.People are commonly overwhelmed by the many influences on personal financial decisions.  What are the factors affecting financial planning?

8.What are the main components of personal financial planning?

9.Louise Ellis recently has been offered employment in another city.  She has been employed in her current position for four years.  What factors should Louise consider when evaluating this new position?

10.Suzanne is beginning to think she needs to find a new job.  She is happy with her present salary and job duties, and she has a large corner office with a wonderful view of the city.  In spite of this, she dreads going to work each day.  Discuss four reasons that may be to blame for her dissatisfaction at work.

11.What steps should a person take when planning a career? *Same as #4?*

12.What factors affect the availability of employment positions?

13.Discuss the types of information available for use when doing career planning.

14.What activities are commonly suggested when preparing for a job interview?

15.You are given the choice of $4,000 in extra taxable income per year or a tax-exempt medical policy.  The medical policy costs $300 per month.  Your tax rate is 25%.  Considering financial factors only, should you take the cash or the medical policy?  Explain your decision.

Part II


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