{"id":1412,"date":"2018-10-13T01:52:07","date_gmt":"2018-10-13T01:52:07","guid":{"rendered":"https:\/\/dumps.dumpsbase.com\/?p=1412"},"modified":"2019-03-04T08:00:41","modified_gmt":"2019-03-04T08:00:41","slug":"certified-trust-and-financial-advisor-ctfa-ctfa-dumps-2018","status":"publish","type":"post","link":"https:\/\/www.dumpsbase.com\/freedumps\/certified-trust-and-financial-advisor-ctfa-ctfa-dumps-2018.html","title":{"rendered":"Certified Trust and Financial Advisor (CTFA) CTFA Dumps 2018"},"content":{"rendered":"<p>Before, we have introduced CRCM ABA certification to you, today we would like share another ABA certification exam, Certified Trust and Financial Advisor (CTFA). CTFA certification demonstrates your expertise in the wealth and trust field. New Certified Trust and Financial Advisor (CTFA) CTFA Dumps 2018 offer 856 exam questions and answers. You can practice all Q&amp;As in CTFA exam dumps to pass Certified Trust and Financial Advisor (CTFA) certification exam successfully.<\/p>\n<h2><span style=\"color: #ff6600;\"><em>Certified Trust and Financial Advisor (CTFA) CTFA Dumps 2018<\/em><\/span><\/h2>\n<script>\n\t  window.fbAsyncInit = function() {\n\t    FB.init({\n\t      appId            : '622169541470367',\n\t      autoLogAppEvents : true,\n\t      xfbml            : true,\n\t      version          : 'v3.1'\n\t    });\n\t  };\n\t\n\t  (function(d, s, id){\n\t     var js, fjs = d.getElementsByTagName(s)[0];\n\t     if (d.getElementById(id)) {return;}\n\t     js = d.createElement(s); js.id = id;\n\t     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n\t     fjs.parentNode.insertBefore(js, fjs);\n\t   }(document, 'script', 'facebook-jssdk'));\n\t<\/script><script type=\"text\/javascript\" >\ndocument.addEventListener(\"DOMContentLoaded\", function(event) { \nif(!window.jQuery) alert(\"The important jQuery library is not properly loaded in your site. Your WordPress theme is probably missing the essential wp_head() call. You can switch to another theme and you will see that the plugin works fine and this notice disappears. If you are still not sure what to do you can contact us for help.\");\n});\n<\/script>  \n  \n<div  id=\"watupro_quiz\" class=\"quiz-area single-page-quiz\">\n<p id=\"submittingExam559\" style=\"display:none;text-align:center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\"><\/p>\n\n<div class=\"watupro-exam-description\" id=\"description-quiz-559\"><\/div>\n\n<form action=\"\" method=\"post\" class=\"quiz-form\" id=\"quiz-559\"  enctype=\"multipart\/form-data\" >\n<div class='watu-question ' id='question-1' style=';'><div id='questionWrap-1'  class='   watupro-question-id-12542'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>1. <\/span>Financial goals cove a wide range of financial aspirations such as:<\/div><input type='hidden' name='question_id[]' id='qID_1' value='12542' \/><input type='hidden' id='answerType12542' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12542[]' id='answer-id-51934' class='answer   answerof-12542 ' value='51934'   \/><label for='answer-id-51934' id='answer-label-51934' class=' answer'><span>Controlling living expenses<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12542[]' id='answer-id-51935' class='answer   answerof-12542 ' value='51935'   \/><label for='answer-id-51935' id='answer-label-51935' class=' answer'><span>Meeting retirement needs<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12542[]' id='answer-id-51936' class='answer   answerof-12542 ' value='51936'   \/><label for='answer-id-51936' id='answer-label-51936' class=' answer'><span>Setting up a savings and investment program<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12542[]' id='answer-id-51937' class='answer   answerof-12542 ' value='51937'   \/><label for='answer-id-51937' id='answer-label-51937' class=' answer'><span>All of the above<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-2' style=';'><div id='questionWrap-2'  class='   watupro-question-id-12543'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>2. <\/span>These are target dates in the future when certain financial objectives are expected to be completed. <br \/>\r<br>What are these?<\/div><input type='hidden' name='question_id[]' id='qID_2' value='12543' \/><input type='hidden' id='answerType12543' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12543[]' id='answer-id-51938' class='answer   answerof-12543 ' value='51938'   \/><label for='answer-id-51938' id='answer-label-51938' class=' answer'><span>Goal dates<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12543[]' id='answer-id-51939' class='answer   answerof-12543 ' value='51939'   \/><label for='answer-id-51939' id='answer-label-51939' class=' answer'><span>Target dates<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12543[]' id='answer-id-51940' class='answer   answerof-12543 ' value='51940'   \/><label for='answer-id-51940' id='answer-label-51940' class=' answer'><span>Due dates<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12543[]' id='answer-id-51941' class='answer   answerof-12543 ' value='51941'   \/><label for='answer-id-51941' id='answer-label-51941' class=' answer'><span>Financial dates<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-3' style=';'><div id='questionWrap-3'  class='   watupro-question-id-12544'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>3. <\/span>Today\u2019s well-defined employee benefits package cover a full spectrum of benefits that may include all EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_3' value='12544' \/><input type='hidden' id='answerType12544' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12544[]' id='answer-id-51942' class='answer   answerof-12544 ' value='51942'   \/><label for='answer-id-51942' id='answer-label-51942' class=' answer'><span>Long -term care insurance<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12544[]' id='answer-id-51943' class='answer   answerof-12544 ' value='51943'   \/><label for='answer-id-51943' id='answer-label-51943' class=' answer'><span>Dental and vision care<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12544[]' id='answer-id-51944' class='answer   answerof-12544 ' value='51944'   \/><label for='answer-id-51944' id='answer-label-51944' class=' answer'><span>Subsidized employee benefit plan<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12544[]' id='answer-id-51945' class='answer   answerof-12544 ' value='51945'   \/><label for='answer-id-51945' id='answer-label-51945' class=' answer'><span>Partial retirement plans<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-4' style=';'><div id='questionWrap-4'  class='   watupro-question-id-12545'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>4. <\/span>Tax deferred retirement plans and flexible spending accounts offer tax advantages. Some retirement plans allow you to__________ against them.<\/div><input type='hidden' name='question_id[]' id='qID_4' value='12545' \/><input type='hidden' id='answerType12545' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12545[]' id='answer-id-51946' class='answer   answerof-12545 ' value='51946'   \/><label for='answer-id-51946' id='answer-label-51946' class=' answer'><span>Lend<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12545[]' id='answer-id-51947' class='answer   answerof-12545 ' value='51947'   \/><label for='answer-id-51947' id='answer-label-51947' class=' answer'><span>Borrow<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12545[]' id='answer-id-51948' class='answer   answerof-12545 ' value='51948'   \/><label for='answer-id-51948' id='answer-label-51948' class=' answer'><span>Spend<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12545[]' id='answer-id-51949' class='answer   answerof-12545 ' value='51949'   \/><label for='answer-id-51949' id='answer-label-51949' class=' answer'><span>None of the above<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-5' style=';'><div id='questionWrap-5'  class='   watupro-question-id-12546'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>5. <\/span>Accumulating assets to enjoy in retirement is only part of the:<\/div><input type='hidden' name='question_id[]' id='qID_5' value='12546' \/><input type='hidden' id='answerType12546' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12546[]' id='answer-id-51950' class='answer   answerof-12546 ' value='51950'   \/><label for='answer-id-51950' id='answer-label-51950' class=' answer'><span>Long-term financial planning process<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12546[]' id='answer-id-51951' class='answer   answerof-12546 ' value='51951'   \/><label for='answer-id-51951' id='answer-label-51951' class=' answer'><span>Short-term financial planning process<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12546[]' id='answer-id-51952' class='answer   answerof-12546 ' value='51952'   \/><label for='answer-id-51952' id='answer-label-51952' class=' answer'><span>Life time financial planning process<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12546[]' id='answer-id-51953' class='answer   answerof-12546 ' value='51953'   \/><label for='answer-id-51953' id='answer-label-51953' class=' answer'><span>Permanent financial planning process<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-6' style=';'><div id='questionWrap-6'  class='   watupro-question-id-12547'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>6. <\/span>This is a type of employee benefit plan wherein the employer allocates a certain amount of money and then the employee spends that money for benefits selected from a menu covering everything from child care to health and life insurance to retirement benefits.<\/div><input type='hidden' name='question_id[]' id='qID_6' value='12547' \/><input type='hidden' id='answerType12547' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12547[]' id='answer-id-51954' class='answer   answerof-12547 ' value='51954'   \/><label for='answer-id-51954' id='answer-label-51954' class=' answer'><span>Flexible benefit plan<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12547[]' id='answer-id-51955' class='answer   answerof-12547 ' value='51955'   \/><label for='answer-id-51955' id='answer-label-51955' class=' answer'><span>Cafeteria plan<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12547[]' id='answer-id-51956' class='answer   answerof-12547 ' value='51956'   \/><label for='answer-id-51956' id='answer-label-51956' class=' answer'><span>Short-term financial plan<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12547[]' id='answer-id-51957' class='answer   answerof-12547 ' value='51957'   \/><label for='answer-id-51957' id='answer-label-51957' class=' answer'><span>Both of the above are one and the same<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-7' style=';'><div id='questionWrap-7'  class='   watupro-question-id-12548'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>7. <\/span>Most financial planners fall into one of two categories based on how they are paid. Commission based planners earn commissions on the financial products they sell, whereas ______________ charge fees based on the complexity of the plan they prepare.<\/div><input type='hidden' name='question_id[]' id='qID_7' value='12548' \/><input type='hidden' id='answerType12548' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12548[]' id='answer-id-51958' class='answer   answerof-12548 ' value='51958'   \/><label for='answer-id-51958' id='answer-label-51958' class=' answer'><span>Free only planners<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12548[]' id='answer-id-51959' class='answer   answerof-12548 ' value='51959'   \/><label for='answer-id-51959' id='answer-label-51959' class=' answer'><span>Commission based planners<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12548[]' id='answer-id-51960' class='answer   answerof-12548 ' value='51960'   \/><label for='answer-id-51960' id='answer-label-51960' class=' answer'><span>Professional planners<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12548[]' id='answer-id-51961' class='answer   answerof-12548 ' value='51961'   \/><label for='answer-id-51961' id='answer-label-51961' class=' answer'><span>Security planners<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-8' style=';'><div id='questionWrap-8'  class='   watupro-question-id-12549'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>8. <\/span>When determining the interaction between the UK and EU on the regulation of the financial services industry, the UK government must always<\/div><input type='hidden' name='question_id[]' id='qID_8' value='12549' \/><input type='hidden' id='answerType12549' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12549[]' id='answer-id-51962' class='answer   answerof-12549 ' value='51962'   \/><label for='answer-id-51962' id='answer-label-51962' class=' answer'><span>seek approval from the European Commission before implementing any new regulations.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12549[]' id='answer-id-51963' class='answer   answerof-12549 ' value='51963'   \/><label for='answer-id-51963' id='answer-label-51963' class=' answer'><span>implement new EU Directives by passing acts of Parliament.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12549[]' id='answer-id-51964' class='answer   answerof-12549 ' value='51964'   \/><label for='answer-id-51964' id='answer-label-51964' class=' answer'><span>accommodate all EU Decisions in UK legislation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12549[]' id='answer-id-51965' class='answer   answerof-12549 ' value='51965'   \/><label for='answer-id-51965' id='answer-label-51965' class=' answer'><span>provide copies of new regulation to the European Commission within a reasonable period of time for their approval.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-9' style=';'><div id='questionWrap-9'  class='   watupro-question-id-12550'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>9. <\/span>A client has previously written to her former adviser opting out of any marketing activities from the firm or any third parties. However she continues to receive direct investment offers from the firm. <br \/>\r<br>She should complain based on the firm not complying with which set of regulations?<\/div><input type='hidden' name='question_id[]' id='qID_9' value='12550' \/><input type='hidden' id='answerType12550' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12550[]' id='answer-id-51966' class='answer   answerof-12550 ' value='51966'   \/><label for='answer-id-51966' id='answer-label-51966' class=' answer'><span>Conduct of Business rules.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12550[]' id='answer-id-51967' class='answer   answerof-12550 ' value='51967'   \/><label for='answer-id-51967' id='answer-label-51967' class=' answer'><span>Data Protection Act 1998.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12550[]' id='answer-id-51968' class='answer   answerof-12550 ' value='51968'   \/><label for='answer-id-51968' id='answer-label-51968' class=' answer'><span>Distance Selling Regulations.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12550[]' id='answer-id-51969' class='answer   answerof-12550 ' value='51969'   \/><label for='answer-id-51969' id='answer-label-51969' class=' answer'><span>Treating Customers Fairly.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-10' style=';'><div id='questionWrap-10'  class='   watupro-question-id-12551'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>10. <\/span>The Financial Services and Markets Act 2000 regulates the provision of which type(s) of financial advice?<\/div><input type='hidden' name='question_id[]' id='qID_10' value='12551' \/><input type='hidden' id='answerType12551' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12551[]' id='answer-id-51970' class='answer   answerof-12551 ' value='51970'   \/><label for='answer-id-51970' id='answer-label-51970' class=' answer'><span>Advice to vulnerable individuals only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12551[]' id='answer-id-51971' class='answer   answerof-12551 ' value='51971'   \/><label for='answer-id-51971' id='answer-label-51971' class=' answer'><span>Advice to all individuals<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12551[]' id='answer-id-51972' class='answer   answerof-12551 ' value='51972'   \/><label for='answer-id-51972' id='answer-label-51972' class=' answer'><span>Advice to all individuals and group personal pensions schemes only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12551[]' id='answer-id-51973' class='answer   answerof-12551 ' value='51973'   \/><label for='answer-id-51973' id='answer-label-51973' class=' answer'><span>Advice to all individuals unless they are elective professional clients<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-11' style=';'><div id='questionWrap-11'  class='   watupro-question-id-12552'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>11. <\/span>Simon has experience of dealing with retail clients and is now in training to qualify as a pension transfer specialist. <br \/>\r<br>As a consequence, which of the following statements are true?<\/div><input type='hidden' name='question_id[]' id='qID_11' value='12552' \/><input type='hidden' id='answerType12552' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12552[]' id='answer-id-51974' class='answer   answerof-12552 ' value='51974'   \/><label for='answer-id-51974' id='answer-label-51974' class=' answer'><span>He must have at least 3 years experience as an adviser before his training can commence<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12552[]' id='answer-id-51975' class='answer   answerof-12552 ' value='51975'   \/><label for='answer-id-51975' id='answer-label-51975' class=' answer'><span>His firm is allowed to impose a time limit on completion of the qualification<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12552[]' id='answer-id-51976' class='answer   answerof-12552 ' value='51976'   \/><label for='answer-id-51976' id='answer-label-51976' class=' answer'><span>His supervisor must also be suitably qualified<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12552[]' id='answer-id-51977' class='answer   answerof-12552 ' value='51977'   \/><label for='answer-id-51977' id='answer-label-51977' class=' answer'><span>Once qualified, CPD requirements are waived for 12 months<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12552[]' id='answer-id-51978' class='answer   answerof-12552 ' value='51978'   \/><label for='answer-id-51978' id='answer-label-51978' class=' answer'><span>Once qualified, records of his training must be maintained for at least 5 years<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-12' style=';'><div id='questionWrap-12'  class='   watupro-question-id-12553'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>12. <\/span>The efficient frontier curve shows the optimum balance between:<\/div><input type='hidden' name='question_id[]' id='qID_12' value='12553' \/><input type='hidden' id='answerType12553' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12553[]' id='answer-id-51979' class='answer   answerof-12553 ' value='51979'   \/><label for='answer-id-51979' id='answer-label-51979' class=' answer'><span>Risk and return<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12553[]' id='answer-id-51980' class='answer   answerof-12553 ' value='51980'   \/><label for='answer-id-51980' id='answer-label-51980' class=' answer'><span>Return and taxation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12553[]' id='answer-id-51981' class='answer   answerof-12553 ' value='51981'   \/><label for='answer-id-51981' id='answer-label-51981' class=' answer'><span>Taxation and risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12553[]' id='answer-id-51982' class='answer   answerof-12553 ' value='51982'   \/><label for='answer-id-51982' id='answer-label-51982' class=' answer'><span>Inflation and return<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-13' style=';'><div id='questionWrap-13'  class='   watupro-question-id-12554'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>13. <\/span>A UK investor holds a portfolio of overseas equities and is concerned about the exchange rate risk. <br \/>\r<br>Which strategy could he use to mitigate this risk?<\/div><input type='hidden' name='question_id[]' id='qID_13' value='12554' \/><input type='hidden' id='answerType12554' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12554[]' id='answer-id-51983' class='answer   answerof-12554 ' value='51983'   \/><label for='answer-id-51983' id='answer-label-51983' class=' answer'><span>Arbitrage<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12554[]' id='answer-id-51984' class='answer   answerof-12554 ' value='51984'   \/><label for='answer-id-51984' id='answer-label-51984' class=' answer'><span>Gearing<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12554[]' id='answer-id-51985' class='answer   answerof-12554 ' value='51985'   \/><label for='answer-id-51985' id='answer-label-51985' class=' answer'><span>Hedging<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12554[]' id='answer-id-51986' class='answer   answerof-12554 ' value='51986'   \/><label for='answer-id-51986' id='answer-label-51986' class=' answer'><span>Pound cost averaging<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-14' style=';'><div id='questionWrap-14'  class='   watupro-question-id-12555'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>14. <\/span>When constructing a portfolio for a UK resident basic-rate taxpayer who requires an income, the most tax efficient solution would be achieved by:<\/div><input type='hidden' name='question_id[]' id='qID_14' value='12555' \/><input type='hidden' id='answerType12555' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12555[]' id='answer-id-51987' class='answer   answerof-12555 ' value='51987'   \/><label for='answer-id-51987' id='answer-label-51987' class=' answer'><span>Only investing in offshore products<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12555[]' id='answer-id-51988' class='answer   answerof-12555 ' value='51988'   \/><label for='answer-id-51988' id='answer-label-51988' class=' answer'><span>Holding fixed-interest funds within a stocks and shares ISA<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12555[]' id='answer-id-51989' class='answer   answerof-12555 ' value='51989'   \/><label for='answer-id-51989' id='answer-label-51989' class=' answer'><span>Purchasing National Savings &amp; Investments (NS&amp;I) Fixed-Interest Savings Certificates<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12555[]' id='answer-id-51990' class='answer   answerof-12555 ' value='51990'   \/><label for='answer-id-51990' id='answer-label-51990' class=' answer'><span>Holding high-yielding equities within a stocks and shares ISA<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-15' style=';'><div id='questionWrap-15'  class='   watupro-question-id-12556'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>15. <\/span>The principal reasons for using the Sharpe ratio when calculating a portfolio\u2019s performance are:<\/div><input type='hidden' name='question_id[]' id='qID_15' value='12556' \/><input type='hidden' id='answerType12556' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12556[]' id='answer-id-51991' class='answer   answerof-12556 ' value='51991'   \/><label for='answer-id-51991' id='answer-label-51991' class=' answer'><span>It indicates the percentage return above\/below the risk-free rate for each unit of risk taken<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12556[]' id='answer-id-51992' class='answer   answerof-12556 ' value='51992'   \/><label for='answer-id-51992' id='answer-label-51992' class=' answer'><span>It will always be quoted on a rolling quarterly basis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12556[]' id='answer-id-51993' class='answer   answerof-12556 ' value='51993'   \/><label for='answer-id-51993' id='answer-label-51993' class=' answer'><span>A positive Sharpe ratio will always guarantee positive returns<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12556[]' id='answer-id-51994' class='answer   answerof-12556 ' value='51994'   \/><label for='answer-id-51994' id='answer-label-51994' class=' answer'><span>The higher the number, the more a portfolio manager can be said to have added value<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-16' style=';'><div id='questionWrap-16'  class='   watupro-question-id-12557'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>16. <\/span>Pauline, a basic-rate taxpayer, has a portfolio which comprises of various equity and fixed-interest unit trusts and OEICs. <br \/>\r<br>She should be aware that:<\/div><input type='hidden' name='question_id[]' id='qID_16' value='12557' \/><input type='hidden' id='answerType12557' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12557[]' id='answer-id-51995' class='answer   answerof-12557 ' value='51995'   \/><label for='answer-id-51995' id='answer-label-51995' class=' answer'><span>Any losses from this portfolio are allowable for Capital Gains Tax calculations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12557[]' id='answer-id-51996' class='answer   answerof-12557 ' value='51996'   \/><label for='answer-id-51996' id='answer-label-51996' class=' answer'><span>Her entire portfolio will be subject to a 10% tax credit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12557[]' id='answer-id-51997' class='answer   answerof-12557 ' value='51997'   \/><label for='answer-id-51997' id='answer-label-51997' class=' answer'><span>Only the proceeds of sale from the OEICs could be subject to Capital Gains Tax<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12557[]' id='answer-id-51998' class='answer   answerof-12557 ' value='51998'   \/><label for='answer-id-51998' id='answer-label-51998' class=' answer'><span>The taxation of dividends on the OEICs held will be treated the same way as the unit trusts<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12557[]' id='answer-id-51999' class='answer   answerof-12557 ' value='51999'   \/><label for='answer-id-51999' id='answer-label-51999' class=' answer'><span>She can never reclaim any tax deducted at source<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-17' style=';'><div id='questionWrap-17'  class='   watupro-question-id-12558'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>17. <\/span>Philip took out a qualifying onshore endowment policy for 20 years which he made paidup in year 9. <br \/>\r<br>This means that he may become personally liable to tax on the policy proceeds:<\/div><input type='hidden' name='question_id[]' id='qID_17' value='12558' \/><input type='hidden' id='answerType12558' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12558[]' id='answer-id-52000' class='answer   answerof-12558 ' value='52000'   \/><label for='answer-id-52000' id='answer-label-52000' class=' answer'><span>At maturity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12558[]' id='answer-id-52001' class='answer   answerof-12558 ' value='52001'   \/><label for='answer-id-52001' id='answer-label-52001' class=' answer'><span>If he makes a partial surrender<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12558[]' id='answer-id-52002' class='answer   answerof-12558 ' value='52002'   \/><label for='answer-id-52002' id='answer-label-52002' class=' answer'><span>If he assigns the policy to his wife<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12558[]' id='answer-id-52003' class='answer   answerof-12558 ' value='52003'   \/><label for='answer-id-52003' id='answer-label-52003' class=' answer'><span>On settlement of a critical illness claim<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-18' style=';'><div id='questionWrap-18'  class='   watupro-question-id-12559'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>18. <\/span>Bill, a single man, having made full use of his annual gift allowances, made a potentially exempt transfer of &pound;100,000 four and a half years before his death. He has made no other gifts. His residual estate is now valued at &pound;500,000. <br \/>\r<br>The Inheritance Tax liability at death is:<\/div><input type='hidden' name='question_id[]' id='qID_18' value='12559' \/><input type='hidden' id='answerType12559' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12559[]' id='answer-id-52004' class='answer   answerof-12559 ' value='52004'   \/><label for='answer-id-52004' id='answer-label-52004' class=' answer'><span>&pound;30,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12559[]' id='answer-id-52005' class='answer   answerof-12559 ' value='52005'   \/><label for='answer-id-52005' id='answer-label-52005' class=' answer'><span>&pound;46,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12559[]' id='answer-id-52006' class='answer   answerof-12559 ' value='52006'   \/><label for='answer-id-52006' id='answer-label-52006' class=' answer'><span>&pound;94,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12559[]' id='answer-id-52007' class='answer   answerof-12559 ' value='52007'   \/><label for='answer-id-52007' id='answer-label-52007' class=' answer'><span>&pound;110,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-19' style=';'><div id='questionWrap-19'  class='   watupro-question-id-12560'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>19. <\/span>On Brian\u2019s death, his estate was valued at &pound;820,000. He bequeathed &pound;40,000 to a registered charity and split the balance equally between his registered civil partner and his brother. <br \/>\r<br>Assuming he made no lifetime transfers, what will the Inheritance Tax liability be?<\/div><input type='hidden' name='question_id[]' id='qID_19' value='12560' \/><input type='hidden' id='answerType12560' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12560[]' id='answer-id-52008' class='answer   answerof-12560 ' value='52008'   \/><label for='answer-id-52008' id='answer-label-52008' class=' answer'><span>&pound;22,750<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12560[]' id='answer-id-52009' class='answer   answerof-12560 ' value='52009'   \/><label for='answer-id-52009' id='answer-label-52009' class=' answer'><span>&pound;26,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12560[]' id='answer-id-52010' class='answer   answerof-12560 ' value='52010'   \/><label for='answer-id-52010' id='answer-label-52010' class=' answer'><span>&pound;29,750<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12560[]' id='answer-id-52011' class='answer   answerof-12560 ' value='52011'   \/><label for='answer-id-52011' id='answer-label-52011' class=' answer'><span>&pound;34,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-20' style=';'><div id='questionWrap-20'  class='   watupro-question-id-12561'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>20. <\/span>Trevor is a member of a defined benefit company pension scheme. <br \/>\r<br>Which factor relating to his circumstances confirms that he will avoid incurring a special annual allowance charge in the current tax year?<\/div><input type='hidden' name='question_id[]' id='qID_20' value='12561' \/><input type='hidden' id='answerType12561' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12561[]' id='answer-id-52012' class='answer   answerof-12561 ' value='52012'   \/><label for='answer-id-52012' id='answer-label-52012' class=' answer'><span>He is a member of an Employer Financed Retirement Benefit Scheme (EFRBS)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12561[]' id='answer-id-52013' class='answer   answerof-12561 ' value='52013'   \/><label for='answer-id-52013' id='answer-label-52013' class=' answer'><span>He is aged 61<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12561[]' id='answer-id-52014' class='answer   answerof-12561 ' value='52014'   \/><label for='answer-id-52014' id='answer-label-52014' class=' answer'><span>His total annual earnings have never exceeded &pound;110,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12561[]' id='answer-id-52015' class='answer   answerof-12561 ' value='52015'   \/><label for='answer-id-52015' id='answer-label-52015' class=' answer'><span>His benefits include the maximum level of death benefit<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-21' style=';'><div id='questionWrap-21'  class='   watupro-question-id-12562'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>21. <\/span>Stephen is about to commence taking benefits from his personal pension scheme, which includes protected rights. <br \/>\r<br>He should be aware that:<\/div><input type='hidden' name='question_id[]' id='qID_21' value='12562' \/><input type='hidden' id='answerType12562' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12562[]' id='answer-id-52016' class='answer   answerof-12562 ' value='52016'   \/><label for='answer-id-52016' id='answer-label-52016' class=' answer'><span>He can take up to 25% of the total fund as a pension commencement lump sum<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12562[]' id='answer-id-52017' class='answer   answerof-12562 ' value='52017'   \/><label for='answer-id-52017' id='answer-label-52017' class=' answer'><span>He has the right to exercise the open market option<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12562[]' id='answer-id-52018' class='answer   answerof-12562 ' value='52018'   \/><label for='answer-id-52018' id='answer-label-52018' class=' answer'><span>His whole pension fund must provide limited price indexation in payment<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12562[]' id='answer-id-52019' class='answer   answerof-12562 ' value='52019'   \/><label for='answer-id-52019' id='answer-label-52019' class=' answer'><span>The value of the protected rights element will not count towards the lifetime allowance<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-22' style=';'><div id='questionWrap-22'  class='   watupro-question-id-12563'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>22. <\/span>Frank, age 55, is considering adopting a lifestyle investment technique as he aims to build up his personal pension prior to retirement. <br \/>\r<br>He should be aware that:<\/div><input type='hidden' name='question_id[]' id='qID_22' value='12563' \/><input type='hidden' id='answerType12563' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12563[]' id='answer-id-52020' class='answer   answerof-12563 ' value='52020'   \/><label for='answer-id-52020' id='answer-label-52020' class=' answer'><span>The asset mix of the fund will be adjusted automatically on pre-determined dates<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12563[]' id='answer-id-52021' class='answer   answerof-12563 ' value='52021'   \/><label for='answer-id-52021' id='answer-label-52021' class=' answer'><span>His ongoing exposure to equities will reduce with lifestyling<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12563[]' id='answer-id-52022' class='answer   answerof-12563 ' value='52022'   \/><label for='answer-id-52022' id='answer-label-52022' class=' answer'><span>After 10 years, a maximum of 25% of the investments will be in bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12563[]' id='answer-id-52023' class='answer   answerof-12563 ' value='52023'   \/><label for='answer-id-52023' id='answer-label-52023' class=' answer'><span>Lifestyling is likely to be appropriate if he intends to purchase a conventional annuity with his entire fund.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-23' style=';'><div id='questionWrap-23'  class='   watupro-question-id-12564'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>23. <\/span>Under an employer\u2019s group life assurance policy, what is the normal tax treatment of the death benefit?<\/div><input type='hidden' name='question_id[]' id='qID_23' value='12564' \/><input type='hidden' id='answerType12564' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12564[]' id='answer-id-52024' class='answer   answerof-12564 ' value='52024'   \/><label for='answer-id-52024' id='answer-label-52024' class=' answer'><span>It is liable to Inheritance Tax<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12564[]' id='answer-id-52025' class='answer   answerof-12564 ' value='52025'   \/><label for='answer-id-52025' id='answer-label-52025' class=' answer'><span>It is liable to Capital Gains Tax<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12564[]' id='answer-id-52026' class='answer   answerof-12564 ' value='52026'   \/><label for='answer-id-52026' id='answer-label-52026' class=' answer'><span>It is liable to Income Tax<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12564[]' id='answer-id-52027' class='answer   answerof-12564 ' value='52027'   \/><label for='answer-id-52027' id='answer-label-52027' class=' answer'><span>It is not liable to any form of taxation<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-24' style=';'><div id='questionWrap-24'  class='   watupro-question-id-12565'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>24. <\/span>If an income protection insurance (PHI) policy has reviewable premiums, this usually means that the insurance company can:<\/div><input type='hidden' name='question_id[]' id='qID_24' value='12565' \/><input type='hidden' id='answerType12565' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12565[]' id='answer-id-52028' class='answer   answerof-12565 ' value='52028'   \/><label for='answer-id-52028' id='answer-label-52028' class=' answer'><span>Alter the cost of the cover<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12565[]' id='answer-id-52029' class='answer   answerof-12565 ' value='52029'   \/><label for='answer-id-52029' id='answer-label-52029' class=' answer'><span>Withdraw cover on any anniversary date<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12565[]' id='answer-id-52030' class='answer   answerof-12565 ' value='52030'   \/><label for='answer-id-52030' id='answer-label-52030' class=' answer'><span>Only increase premiums in line with inflation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12565[]' id='answer-id-52031' class='answer   answerof-12565 ' value='52031'   \/><label for='answer-id-52031' id='answer-label-52031' class=' answer'><span>Pay benefits for less than the full period of incapacity<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-25' style=';'><div id='questionWrap-25'  class='   watupro-question-id-12566'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>25. <\/span>Apart from comparing cover and costs, what other key factor should usually be considered if a financial adviser intends to recommend that a client cancels an existing term assurance policy and replaces it with a new one?<\/div><input type='hidden' name='question_id[]' id='qID_25' value='12566' \/><input type='hidden' id='answerType12566' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12566[]' id='answer-id-52032' class='answer   answerof-12566 ' value='52032'   \/><label for='answer-id-52032' id='answer-label-52032' class=' answer'><span>The insurable interest<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12566[]' id='answer-id-52033' class='answer   answerof-12566 ' value='52033'   \/><label for='answer-id-52033' id='answer-label-52033' class=' answer'><span>The underwriting requirements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12566[]' id='answer-id-52034' class='answer   answerof-12566 ' value='52034'   \/><label for='answer-id-52034' id='answer-label-52034' class=' answer'><span>The secondhand policy market value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12566[]' id='answer-id-52035' class='answer   answerof-12566 ' value='52035'   \/><label for='answer-id-52035' id='answer-label-52035' class=' answer'><span>The chargeable gains<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-26' style=';'><div id='questionWrap-26'  class='   watupro-question-id-12567'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>26. <\/span>The primary purpose of a key person insurance policy is to provide funds on the death of the life assured directly to the deceased's:<\/div><input type='hidden' name='question_id[]' id='qID_26' value='12567' \/><input type='hidden' id='answerType12567' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12567[]' id='answer-id-52036' class='answer   answerof-12567 ' value='52036'   \/><label for='answer-id-52036' id='answer-label-52036' class=' answer'><span>Children only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12567[]' id='answer-id-52037' class='answer   answerof-12567 ' value='52037'   \/><label for='answer-id-52037' id='answer-label-52037' class=' answer'><span>Employer only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12567[]' id='answer-id-52038' class='answer   answerof-12567 ' value='52038'   \/><label for='answer-id-52038' id='answer-label-52038' class=' answer'><span>Estate only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12567[]' id='answer-id-52039' class='answer   answerof-12567 ' value='52039'   \/><label for='answer-id-52039' id='answer-label-52039' class=' answer'><span>Spouse only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-27' style=';'><div id='questionWrap-27'  class='   watupro-question-id-12568'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>27. <\/span>The phase of the economic cycle when levels of employment and production are high and economy is growing, generally accompanied by high prices for goods and services is called:<\/div><input type='hidden' name='question_id[]' id='qID_27' value='12568' \/><input type='hidden' id='answerType12568' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12568[]' id='answer-id-52040' class='answer   answerof-12568 ' value='52040'   \/><label for='answer-id-52040' id='answer-label-52040' class=' answer'><span>Growth<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12568[]' id='answer-id-52041' class='answer   answerof-12568 ' value='52041'   \/><label for='answer-id-52041' id='answer-label-52041' class=' answer'><span>Expansion<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12568[]' id='answer-id-52042' class='answer   answerof-12568 ' value='52042'   \/><label for='answer-id-52042' id='answer-label-52042' class=' answer'><span>Depression<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12568[]' id='answer-id-52043' class='answer   answerof-12568 ' value='52043'   \/><label for='answer-id-52043' id='answer-label-52043' class=' answer'><span>Recovery<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-28' style=';'><div id='questionWrap-28'  class='   watupro-question-id-12569'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>28. <\/span>The phase of the economic cycle when levels of employment and production fall and the growth of the economy slows is called:<\/div><input type='hidden' name='question_id[]' id='qID_28' value='12569' \/><input type='hidden' id='answerType12569' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12569[]' id='answer-id-52044' class='answer   answerof-12569 ' value='52044'   \/><label for='answer-id-52044' id='answer-label-52044' class=' answer'><span>Growth<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12569[]' id='answer-id-52045' class='answer   answerof-12569 ' value='52045'   \/><label for='answer-id-52045' id='answer-label-52045' class=' answer'><span>Expansion<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12569[]' id='answer-id-52046' class='answer   answerof-12569 ' value='52046'   \/><label for='answer-id-52046' id='answer-label-52046' class=' answer'><span>Recession<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12569[]' id='answer-id-52047' class='answer   answerof-12569 ' value='52047'   \/><label for='answer-id-52047' id='answer-label-52047' class=' answer'><span>Recovery<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-29' style=';'><div id='questionWrap-29'  class='   watupro-question-id-12570'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>29. <\/span>The phase of the economic cycle when levels of employment and production are low and economic growth is at a virtual standstill or even negative is called:<\/div><input type='hidden' name='question_id[]' id='qID_29' value='12570' \/><input type='hidden' id='answerType12570' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12570[]' id='answer-id-52048' class='answer   answerof-12570 ' value='52048'   \/><label for='answer-id-52048' id='answer-label-52048' class=' answer'><span>Growth<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12570[]' id='answer-id-52049' class='answer   answerof-12570 ' value='52049'   \/><label for='answer-id-52049' id='answer-label-52049' class=' answer'><span>Expansion<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12570[]' id='answer-id-52050' class='answer   answerof-12570 ' value='52050'   \/><label for='answer-id-52050' id='answer-label-52050' class=' answer'><span>Recession<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12570[]' id='answer-id-52051' class='answer   answerof-12570 ' value='52051'   \/><label for='answer-id-52051' id='answer-label-52051' class=' answer'><span>Depression<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-30' style=';'><div id='questionWrap-30'  class='   watupro-question-id-12571'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>30. <\/span>Gross domestic product is:<\/div><input type='hidden' name='question_id[]' id='qID_30' value='12571' \/><input type='hidden' id='answerType12571' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12571[]' id='answer-id-52052' class='answer   answerof-12571 ' value='52052'   \/><label for='answer-id-52052' id='answer-label-52052' class=' answer'><span>The total of all goods and services produced in a country used to monitor economic growth<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12571[]' id='answer-id-52053' class='answer   answerof-12571 ' value='52053'   \/><label for='answer-id-52053' id='answer-label-52053' class=' answer'><span>The half of all goods and services produced in a country used to monitor economic growth<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12571[]' id='answer-id-52054' class='answer   answerof-12571 ' value='52054'   \/><label for='answer-id-52054' id='answer-label-52054' class=' answer'><span>The division of all goods and services produced in a country used to monitor economic growth<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12571[]' id='answer-id-52055' class='answer   answerof-12571 ' value='52055'   \/><label for='answer-id-52055' id='answer-label-52055' class=' answer'><span>None of the above<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-31' style=';'><div id='questionWrap-31'  class='   watupro-question-id-12572'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>31. <\/span>It is a measure of inflation based on changes in consumer goods and services:<\/div><input type='hidden' name='question_id[]' id='qID_31' value='12572' \/><input type='hidden' id='answerType12572' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12572[]' id='answer-id-52056' class='answer   answerof-12572 ' value='52056'   \/><label for='answer-id-52056' id='answer-label-52056' class=' answer'><span>Consumer price Index<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12572[]' id='answer-id-52057' class='answer   answerof-12572 ' value='52057'   \/><label for='answer-id-52057' id='answer-label-52057' class=' answer'><span>Customer price Index<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12572[]' id='answer-id-52058' class='answer   answerof-12572 ' value='52058'   \/><label for='answer-id-52058' id='answer-label-52058' class=' answer'><span>Market rate Index<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12572[]' id='answer-id-52059' class='answer   answerof-12572 ' value='52059'   \/><label for='answer-id-52059' id='answer-label-52059' class=' answer'><span>Market value<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-32' style=';'><div id='questionWrap-32'  class='   watupro-question-id-12573'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>32. <\/span>Inflation is a vital concern to financial planning. It affects not only what we pay for our goods and services but also what we earn in our jobs. <br \/>\r<br>The amount of goods and services each dollar buys at a given time is:<\/div><input type='hidden' name='question_id[]' id='qID_32' value='12573' \/><input type='hidden' id='answerType12573' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12573[]' id='answer-id-52060' class='answer   answerof-12573 ' value='52060'   \/><label for='answer-id-52060' id='answer-label-52060' class=' answer'><span>Purchasing power<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12573[]' id='answer-id-52061' class='answer   answerof-12573 ' value='52061'   \/><label for='answer-id-52061' id='answer-label-52061' class=' answer'><span>Seller\u2019s demand<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12573[]' id='answer-id-52062' class='answer   answerof-12573 ' value='52062'   \/><label for='answer-id-52062' id='answer-label-52062' class=' answer'><span>Market value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12573[]' id='answer-id-52063' class='answer   answerof-12573 ' value='52063'   \/><label for='answer-id-52063' id='answer-label-52063' class=' answer'><span>Sales purchase difference<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-33' style=';'><div id='questionWrap-33'  class='   watupro-question-id-12574'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>33. <\/span>Balance sheet and income statements that serve as essential planning tools for developing and monitoring personal financial plans may be referred as:<\/div><input type='hidden' name='question_id[]' id='qID_33' value='12574' \/><input type='hidden' id='answerType12574' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12574[]' id='answer-id-52064' class='answer   answerof-12574 ' value='52064'   \/><label for='answer-id-52064' id='answer-label-52064' class=' answer'><span>Personal financial statements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12574[]' id='answer-id-52065' class='answer   answerof-12574 ' value='52065'   \/><label for='answer-id-52065' id='answer-label-52065' class=' answer'><span>Legal financial statements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12574[]' id='answer-id-52066' class='answer   answerof-12574 ' value='52066'   \/><label for='answer-id-52066' id='answer-label-52066' class=' answer'><span>Illegal financial statements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12574[]' id='answer-id-52067' class='answer   answerof-12574 ' value='52067'   \/><label for='answer-id-52067' id='answer-label-52067' class=' answer'><span>Company profile<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-34' style=';'><div id='questionWrap-34'  class='   watupro-question-id-12575'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>34. <\/span>It\u2019s a detailed financial report that looks forward, based on expected income and expenses.<\/div><input type='hidden' name='question_id[]' id='qID_34' value='12575' \/><input type='hidden' id='answerType12575' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12575[]' id='answer-id-52068' class='answer   answerof-12575 ' value='52068'   \/><label for='answer-id-52068' id='answer-label-52068' class=' answer'><span>Balance sheet<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12575[]' id='answer-id-52069' class='answer   answerof-12575 ' value='52069'   \/><label for='answer-id-52069' id='answer-label-52069' class=' answer'><span>Income Statement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12575[]' id='answer-id-52070' class='answer   answerof-12575 ' value='52070'   \/><label for='answer-id-52070' id='answer-label-52070' class=' answer'><span>Budget<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12575[]' id='answer-id-52071' class='answer   answerof-12575 ' value='52071'   \/><label for='answer-id-52071' id='answer-label-52071' class=' answer'><span>Equity turnover<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-35' style=';'><div id='questionWrap-35'  class='   watupro-question-id-12576'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>35. <\/span>The actual value of an asset, or the price of an asset, or the price for which it can reasonably be expected to sell in the open market is its:<\/div><input type='hidden' name='question_id[]' id='qID_35' value='12576' \/><input type='hidden' id='answerType12576' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12576[]' id='answer-id-52072' class='answer   answerof-12576 ' value='52072'   \/><label for='answer-id-52072' id='answer-label-52072' class=' answer'><span>Actual price<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12576[]' id='answer-id-52073' class='answer   answerof-12576 ' value='52073'   \/><label for='answer-id-52073' id='answer-label-52073' class=' answer'><span>Book value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12576[]' id='answer-id-52074' class='answer   answerof-12576 ' value='52074'   \/><label for='answer-id-52074' id='answer-label-52074' class=' answer'><span>Depreciation amount<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12576[]' id='answer-id-52075' class='answer   answerof-12576 ' value='52075'   \/><label for='answer-id-52075' id='answer-label-52075' class=' answer'><span>Fair market value<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-36' style=';'><div id='questionWrap-36'  class='   watupro-question-id-12577'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>36. <\/span>Tangible assets that are immovable: land and anything fixed to it, such as a house is a person\u2019s:<\/div><input type='hidden' name='question_id[]' id='qID_36' value='12577' \/><input type='hidden' id='answerType12577' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12577[]' id='answer-id-52076' class='answer   answerof-12577 ' value='52076'   \/><label for='answer-id-52076' id='answer-label-52076' class=' answer'><span>Investment<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12577[]' id='answer-id-52077' class='answer   answerof-12577 ' value='52077'   \/><label for='answer-id-52077' id='answer-label-52077' class=' answer'><span>Real property<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12577[]' id='answer-id-52078' class='answer   answerof-12577 ' value='52078'   \/><label for='answer-id-52078' id='answer-label-52078' class=' answer'><span>Liability<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12577[]' id='answer-id-52079' class='answer   answerof-12577 ' value='52079'   \/><label for='answer-id-52079' id='answer-label-52079' class=' answer'><span>Open credit obligation<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-37' style=';'><div id='questionWrap-37'  class='   watupro-question-id-12578'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>37. <\/span>It is actually a method of preparing financial statements in which only transactions involving actual cash outlays are recorded.<\/div><input type='hidden' name='question_id[]' id='qID_37' value='12578' \/><input type='hidden' id='answerType12578' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12578[]' id='answer-id-52080' class='answer   answerof-12578 ' value='52080'   \/><label for='answer-id-52080' id='answer-label-52080' class=' answer'><span>Cash basis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12578[]' id='answer-id-52081' class='answer   answerof-12578 ' value='52081'   \/><label for='answer-id-52081' id='answer-label-52081' class=' answer'><span>Expense<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12578[]' id='answer-id-52082' class='answer   answerof-12578 ' value='52082'   \/><label for='answer-id-52082' id='answer-label-52082' class=' answer'><span>Equity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12578[]' id='answer-id-52083' class='answer   answerof-12578 ' value='52083'   \/><label for='answer-id-52083' id='answer-label-52083' class=' answer'><span>Cash deficit<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-38' style=';'><div id='questionWrap-38'  class='   watupro-question-id-12579'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>38. <\/span>An excess amount of expense over income resulting in insufficient funds as well as in decreased net value is called:<\/div><input type='hidden' name='question_id[]' id='qID_38' value='12579' \/><input type='hidden' id='answerType12579' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12579[]' id='answer-id-52084' class='answer   answerof-12579 ' value='52084'   \/><label for='answer-id-52084' id='answer-label-52084' class=' answer'><span>Cash deficit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12579[]' id='answer-id-52085' class='answer   answerof-12579 ' value='52085'   \/><label for='answer-id-52085' id='answer-label-52085' class=' answer'><span>Limited Liability<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12579[]' id='answer-id-52086' class='answer   answerof-12579 ' value='52086'   \/><label for='answer-id-52086' id='answer-label-52086' class=' answer'><span>Cash basis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12579[]' id='answer-id-52087' class='answer   answerof-12579 ' value='52087'   \/><label for='answer-id-52087' id='answer-label-52087' class=' answer'><span>Net worth<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-39' style=';'><div id='questionWrap-39'  class='   watupro-question-id-12580'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>39. <\/span>Total liquid assets divided by total current debts; measures the ability to pay current debts. It is:<\/div><input type='hidden' name='question_id[]' id='qID_39' value='12580' \/><input type='hidden' id='answerType12580' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12580[]' id='answer-id-52088' class='answer   answerof-12580 ' value='52088'   \/><label for='answer-id-52088' id='answer-label-52088' class=' answer'><span>Solvency ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12580[]' id='answer-id-52089' class='answer   answerof-12580 ' value='52089'   \/><label for='answer-id-52089' id='answer-label-52089' class=' answer'><span>Liquidity ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12580[]' id='answer-id-52090' class='answer   answerof-12580 ' value='52090'   \/><label for='answer-id-52090' id='answer-label-52090' class=' answer'><span>Savings ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12580[]' id='answer-id-52091' class='answer   answerof-12580 ' value='52091'   \/><label for='answer-id-52091' id='answer-label-52091' class=' answer'><span>Debt service ratio<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-40' style=';'><div id='questionWrap-40'  class='   watupro-question-id-12581'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>40. <\/span>Total net worth divided by total assets; measures the degree of exposure to insolvency is:<\/div><input type='hidden' name='question_id[]' id='qID_40' value='12581' \/><input type='hidden' id='answerType12581' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12581[]' id='answer-id-52092' class='answer   answerof-12581 ' value='52092'   \/><label for='answer-id-52092' id='answer-label-52092' class=' answer'><span>Solvency ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12581[]' id='answer-id-52093' class='answer   answerof-12581 ' value='52093'   \/><label for='answer-id-52093' id='answer-label-52093' class=' answer'><span>Liquidity ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12581[]' id='answer-id-52094' class='answer   answerof-12581 ' value='52094'   \/><label for='answer-id-52094' id='answer-label-52094' class=' answer'><span>Savings ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12581[]' id='answer-id-52095' class='answer   answerof-12581 ' value='52095'   \/><label for='answer-id-52095' id='answer-label-52095' class=' answer'><span>Debt service ratio<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-41' style=';'><div id='questionWrap-41'  class='   watupro-question-id-12582'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>41. <\/span>Cash surplus divided by net income (after tax); indicates relative amount of cash surplus achieved during a given period is:<\/div><input type='hidden' name='question_id[]' id='qID_41' value='12582' \/><input type='hidden' id='answerType12582' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12582[]' id='answer-id-52096' class='answer   answerof-12582 ' value='52096'   \/><label for='answer-id-52096' id='answer-label-52096' class=' answer'><span>Solvency ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12582[]' id='answer-id-52097' class='answer   answerof-12582 ' value='52097'   \/><label for='answer-id-52097' id='answer-label-52097' class=' answer'><span>Liquidity ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12582[]' id='answer-id-52098' class='answer   answerof-12582 ' value='52098'   \/><label for='answer-id-52098' id='answer-label-52098' class=' answer'><span>Savings ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12582[]' id='answer-id-52099' class='answer   answerof-12582 ' value='52099'   \/><label for='answer-id-52099' id='answer-label-52099' class=' answer'><span>Debt service ratio<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-42' style=';'><div id='questionWrap-42'  class='   watupro-question-id-12583'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>42. <\/span>Total monthly loan payments divided by monthly gross (before-tax) income; provides a measure of the ability to pay debts promptly is:<\/div><input type='hidden' name='question_id[]' id='qID_42' value='12583' \/><input type='hidden' id='answerType12583' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12583[]' id='answer-id-52100' class='answer   answerof-12583 ' value='52100'   \/><label for='answer-id-52100' id='answer-label-52100' class=' answer'><span>Solvency ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12583[]' id='answer-id-52101' class='answer   answerof-12583 ' value='52101'   \/><label for='answer-id-52101' id='answer-label-52101' class=' answer'><span>Liquidity ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12583[]' id='answer-id-52102' class='answer   answerof-12583 ' value='52102'   \/><label for='answer-id-52102' id='answer-label-52102' class=' answer'><span>Savings ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12583[]' id='answer-id-52103' class='answer   answerof-12583 ' value='52103'   \/><label for='answer-id-52103' id='answer-label-52103' class=' answer'><span>Debt service ratio<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-43' style=';'><div id='questionWrap-43'  class='   watupro-question-id-12584'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>43. <\/span>A cash budget is the valuable money management tool that helps you EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_43' value='12584' \/><input type='hidden' id='answerType12584' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12584[]' id='answer-id-52104' class='answer   answerof-12584 ' value='52104'   \/><label for='answer-id-52104' id='answer-label-52104' class=' answer'><span>Maintain the necessary information to monitor and control your finances<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12584[]' id='answer-id-52105' class='answer   answerof-12584 ' value='52105'   \/><label for='answer-id-52105' id='answer-label-52105' class=' answer'><span>Decide how to allocate your income to reach your financial goals<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12584[]' id='answer-id-52106' class='answer   answerof-12584 ' value='52106'   \/><label for='answer-id-52106' id='answer-label-52106' class=' answer'><span>Implement a system of disciplined spending-as opposed to just existing from one paycheck to the next<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12584[]' id='answer-id-52107' class='answer   answerof-12584 ' value='52107'   \/><label for='answer-id-52107' id='answer-label-52107' class=' answer'><span>Enhance needles spending so you can increase the funds allocated to savings and investments<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-44' style=';'><div id='questionWrap-44'  class='   watupro-question-id-12585'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>44. <\/span>Budget control schedule is:<\/div><input type='hidden' name='question_id[]' id='qID_44' value='12585' \/><input type='hidden' id='answerType12585' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12585[]' id='answer-id-52108' class='answer   answerof-12585 ' value='52108'   \/><label for='answer-id-52108' id='answer-label-52108' class=' answer'><span>A summary that shows how actual income and expenses compare with the various budget categories<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12585[]' id='answer-id-52109' class='answer   answerof-12585 ' value='52109'   \/><label for='answer-id-52109' id='answer-label-52109' class=' answer'><span>A summary that shows how actual income and expenses compare with the various budget categories and where variances (surplus or deficit) exist<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12585[]' id='answer-id-52110' class='answer   answerof-12585 ' value='52110'   \/><label for='answer-id-52110' id='answer-label-52110' class=' answer'><span>A graphical presentation of cash flows<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12585[]' id='answer-id-52111' class='answer   answerof-12585 ' value='52111'   \/><label for='answer-id-52111' id='answer-label-52111' class=' answer'><span>The interest earned each year<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-45' style=';'><div id='questionWrap-45'  class='   watupro-question-id-12586'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>45. <\/span>&quot;Shareholder wealth&quot; in a firm is represented by:<\/div><input type='hidden' name='question_id[]' id='qID_45' value='12586' \/><input type='hidden' id='answerType12586' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12586[]' id='answer-id-52112' class='answer   answerof-12586 ' value='52112'   \/><label for='answer-id-52112' id='answer-label-52112' class=' answer'><span>The number of people employed in the firm<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12586[]' id='answer-id-52113' class='answer   answerof-12586 ' value='52113'   \/><label for='answer-id-52113' id='answer-label-52113' class=' answer'><span>The book value of the firm's assets less the book value of its liabilities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12586[]' id='answer-id-52114' class='answer   answerof-12586 ' value='52114'   \/><label for='answer-id-52114' id='answer-label-52114' class=' answer'><span>The amount of salary paid to its employees<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12586[]' id='answer-id-52115' class='answer   answerof-12586 ' value='52115'   \/><label for='answer-id-52115' id='answer-label-52115' class=' answer'><span>The market price per share of the firm's common stock<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-46' style=';'><div id='questionWrap-46'  class='   watupro-question-id-12587'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>46. <\/span>The long-run objective of financial management is to:<\/div><input type='hidden' name='question_id[]' id='qID_46' value='12587' \/><input type='hidden' id='answerType12587' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12587[]' id='answer-id-52116' class='answer   answerof-12587 ' value='52116'   \/><label for='answer-id-52116' id='answer-label-52116' class=' answer'><span>Maximize earnings per share<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12587[]' id='answer-id-52117' class='answer   answerof-12587 ' value='52117'   \/><label for='answer-id-52117' id='answer-label-52117' class=' answer'><span>Maximize the value of the firm's common stock<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12587[]' id='answer-id-52118' class='answer   answerof-12587 ' value='52118'   \/><label for='answer-id-52118' id='answer-label-52118' class=' answer'><span>Maximize return on investment<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12587[]' id='answer-id-52119' class='answer   answerof-12587 ' value='52119'   \/><label for='answer-id-52119' id='answer-label-52119' class=' answer'><span>Maximize market share<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-47' style=';'><div id='questionWrap-47'  class='   watupro-question-id-12588'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>47. <\/span>What are the earnings per share (EPS) for a company that earned $100,000 last year in after-tax profits, has 200,000 common shares outstanding and $1.2 million in retained earning at the year end?<\/div><input type='hidden' name='question_id[]' id='qID_47' value='12588' \/><input type='hidden' id='answerType12588' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12588[]' id='answer-id-52120' class='answer   answerof-12588 ' value='52120'   \/><label for='answer-id-52120' id='answer-label-52120' class=' answer'><span>$100,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12588[]' id='answer-id-52121' class='answer   answerof-12588 ' value='52121'   \/><label for='answer-id-52121' id='answer-label-52121' class=' answer'><span>$6.00<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12588[]' id='answer-id-52122' class='answer   answerof-12588 ' value='52122'   \/><label for='answer-id-52122' id='answer-label-52122' class=' answer'><span>$0.50<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12588[]' id='answer-id-52123' class='answer   answerof-12588 ' value='52123'   \/><label for='answer-id-52123' id='answer-label-52123' class=' answer'><span>$6.50<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-48' style=';'><div id='questionWrap-48'  class='   watupro-question-id-12589'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>48. <\/span>A single, overall cost of capital is often used to evaluate projects because:<\/div><input type='hidden' name='question_id[]' id='qID_48' value='12589' \/><input type='hidden' id='answerType12589' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12589[]' id='answer-id-52124' class='answer   answerof-12589 ' value='52124'   \/><label for='answer-id-52124' id='answer-label-52124' class=' answer'><span>It avoids the problem of computing the required rate of return for each investment proposal<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12589[]' id='answer-id-52125' class='answer   answerof-12589 ' value='52125'   \/><label for='answer-id-52125' id='answer-label-52125' class=' answer'><span>It is the only way to measure a firm's required return<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12589[]' id='answer-id-52126' class='answer   answerof-12589 ' value='52126'   \/><label for='answer-id-52126' id='answer-label-52126' class=' answer'><span>It acknowledges that most new investment projects have about the same degree of risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12589[]' id='answer-id-52127' class='answer   answerof-12589 ' value='52127'   \/><label for='answer-id-52127' id='answer-label-52127' class=' answer'><span>It acknowledges that most new investment projects offer about the same expected return<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-49' style=';'><div id='questionWrap-49'  class='   watupro-question-id-12590'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>49. <\/span>The cost of equity capital is all of the following Except:<\/div><input type='hidden' name='question_id[]' id='qID_49' value='12590' \/><input type='hidden' id='answerType12590' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12590[]' id='answer-id-52128' class='answer   answerof-12590 ' value='52128'   \/><label for='answer-id-52128' id='answer-label-52128' class=' answer'><span>The minimum rate that a firm should earn on the equity-financed part of an investment<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12590[]' id='answer-id-52129' class='answer   answerof-12590 ' value='52129'   \/><label for='answer-id-52129' id='answer-label-52129' class=' answer'><span>A return on the equity-financed portion of an investment that, at worst, leaves the market price of the stock unchanged<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12590[]' id='answer-id-52130' class='answer   answerof-12590 ' value='52130'   \/><label for='answer-id-52130' id='answer-label-52130' class=' answer'><span>By far the most difficult component cost to estimate<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12590[]' id='answer-id-52131' class='answer   answerof-12590 ' value='52131'   \/><label for='answer-id-52131' id='answer-label-52131' class=' answer'><span>Generally lower than the before-tax cost of debt<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-50' style=';'><div id='questionWrap-50'  class='   watupro-question-id-12591'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>50. <\/span>If the following are balance sheet changes: <br \/>\r<br>$5,005 decrease in accounts receivable <br \/>\r<br>$7,000 decrease in cash <br \/>\r<br>$12,012 decrease in notes payable <br \/>\r<br>$10,001 increase in accounts payablea &quot;use&quot; of funds would be the:<\/div><input type='hidden' name='question_id[]' id='qID_50' value='12591' \/><input type='hidden' id='answerType12591' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12591[]' id='answer-id-52132' class='answer   answerof-12591 ' value='52132'   \/><label for='answer-id-52132' id='answer-label-52132' class=' answer'><span>$7,000 decrease in cash<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12591[]' id='answer-id-52133' class='answer   answerof-12591 ' value='52133'   \/><label for='answer-id-52133' id='answer-label-52133' class=' answer'><span>$5,005 decrease in accounts receivable<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12591[]' id='answer-id-52134' class='answer   answerof-12591 ' value='52134'   \/><label for='answer-id-52134' id='answer-label-52134' class=' answer'><span>$10,001 increase in accounts payable<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12591[]' id='answer-id-52135' class='answer   answerof-12591 ' value='52135'   \/><label for='answer-id-52135' id='answer-label-52135' class=' answer'><span>$12,012 decrease in notes payable<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-51' style=';'><div id='questionWrap-51'  class='   watupro-question-id-12592'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>51. <\/span>The concept that dollar today is worth more than a dollar received in future. It is:<\/div><input type='hidden' name='question_id[]' id='qID_51' value='12592' \/><input type='hidden' id='answerType12592' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12592[]' id='answer-id-52136' class='answer   answerof-12592 ' value='52136'   \/><label for='answer-id-52136' id='answer-label-52136' class=' answer'><span>Time value of money<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12592[]' id='answer-id-52137' class='answer   answerof-12592 ' value='52137'   \/><label for='answer-id-52137' id='answer-label-52137' class=' answer'><span>Compounding<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12592[]' id='answer-id-52138' class='answer   answerof-12592 ' value='52138'   \/><label for='answer-id-52138' id='answer-label-52138' class=' answer'><span>Timeline<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12592[]' id='answer-id-52139' class='answer   answerof-12592 ' value='52139'   \/><label for='answer-id-52139' id='answer-label-52139' class=' answer'><span>Future value<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-52' style=';'><div id='questionWrap-52'  class='   watupro-question-id-12593'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>52. <\/span>Rule 72 is:<\/div><input type='hidden' name='question_id[]' id='qID_52' value='12593' \/><input type='hidden' id='answerType12593' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12593[]' id='answer-id-52140' class='answer   answerof-12593 ' value='52140'   \/><label for='answer-id-52140' id='answer-label-52140' class=' answer'><span>A useful formula for estimating how long it will take to double a sum at a given interest rate<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12593[]' id='answer-id-52141' class='answer   answerof-12593 ' value='52141'   \/><label for='answer-id-52141' id='answer-label-52141' class=' answer'><span>A useful formula for estimating how long it will take to triple a sum at a given interest rate<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12593[]' id='answer-id-52142' class='answer   answerof-12593 ' value='52142'   \/><label for='answer-id-52142' id='answer-label-52142' class=' answer'><span>A useful formula for estimating how long it will take to graphically represent the time value of money<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12593[]' id='answer-id-52143' class='answer   answerof-12593 ' value='52143'   \/><label for='answer-id-52143' id='answer-label-52143' class=' answer'><span>A useful formula for estimating how long it will take to make the future value of deposited money<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-53' style=';'><div id='questionWrap-53'  class='   watupro-question-id-12594'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>53. <\/span>On an accounting statement of cash flows an &quot;increase(decrease) in cash and cash equivalents&quot; appears as:<\/div><input type='hidden' name='question_id[]' id='qID_53' value='12594' \/><input type='hidden' id='answerType12594' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12594[]' id='answer-id-52144' class='answer   answerof-12594 ' value='52144'   \/><label for='answer-id-52144' id='answer-label-52144' class=' answer'><span>A cash flow from operating activities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12594[]' id='answer-id-52145' class='answer   answerof-12594 ' value='52145'   \/><label for='answer-id-52145' id='answer-label-52145' class=' answer'><span>A cash flow from investing activities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12594[]' id='answer-id-52146' class='answer   answerof-12594 ' value='52146'   \/><label for='answer-id-52146' id='answer-label-52146' class=' answer'><span>A cash flow from financing activities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12594[]' id='answer-id-52147' class='answer   answerof-12594 ' value='52147'   \/><label for='answer-id-52147' id='answer-label-52147' class=' answer'><span>None of the above<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-54' style=';'><div id='questionWrap-54'  class='   watupro-question-id-12595'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>54. <\/span>Uses of funds include a (an):<\/div><input type='hidden' name='question_id[]' id='qID_54' value='12595' \/><input type='hidden' id='answerType12595' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12595[]' id='answer-id-52148' class='answer   answerof-12595 ' value='52148'   \/><label for='answer-id-52148' id='answer-label-52148' class=' answer'><span>Decrease in cash<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12595[]' id='answer-id-52149' class='answer   answerof-12595 ' value='52149'   \/><label for='answer-id-52149' id='answer-label-52149' class=' answer'><span>Increase in any liability<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12595[]' id='answer-id-52150' class='answer   answerof-12595 ' value='52150'   \/><label for='answer-id-52150' id='answer-label-52150' class=' answer'><span>Increase in fixed assets<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12595[]' id='answer-id-52151' class='answer   answerof-12595 ' value='52151'   \/><label for='answer-id-52151' id='answer-label-52151' class=' answer'><span>Tax refund<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-55' style=';'><div id='questionWrap-55'  class='   watupro-question-id-12596'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>55. <\/span>A tax structure in which the larger the amount of taxable income, the higher the rate at which it is taxed is:<\/div><input type='hidden' name='question_id[]' id='qID_55' value='12596' \/><input type='hidden' id='answerType12596' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12596[]' id='answer-id-52152' class='answer   answerof-12596 ' value='52152'   \/><label for='answer-id-52152' id='answer-label-52152' class=' answer'><span>Marginal tax rate<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12596[]' id='answer-id-52153' class='answer   answerof-12596 ' value='52153'   \/><label for='answer-id-52153' id='answer-label-52153' class=' answer'><span>Progressive tax structure<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12596[]' id='answer-id-52154' class='answer   answerof-12596 ' value='52154'   \/><label for='answer-id-52154' id='answer-label-52154' class=' answer'><span>Tax bracket<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12596[]' id='answer-id-52155' class='answer   answerof-12596 ' value='52155'   \/><label for='answer-id-52155' id='answer-label-52155' class=' answer'><span>Immovable tax structure<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-56' style=';'><div id='questionWrap-56'  class='   watupro-question-id-12597'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>56. <\/span>Average tax rate:<\/div><input type='hidden' name='question_id[]' id='qID_56' value='12597' \/><input type='hidden' id='answerType12597' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12597[]' id='answer-id-52156' class='answer   answerof-12597 ' value='52156'   \/><label for='answer-id-52156' id='answer-label-52156' class=' answer'><span>Is the rate at which each dollar of taxable income is taxed on average; calculated by dividing the tax liability by taxable income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12597[]' id='answer-id-52157' class='answer   answerof-12597 ' value='52157'   \/><label for='answer-id-52157' id='answer-label-52157' class=' answer'><span>Is the rate at which each dollar of taxable income is taxed annually; calculated by dividing the tax liability by taxable income.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12597[]' id='answer-id-52158' class='answer   answerof-12597 ' value='52158'   \/><label for='answer-id-52158' id='answer-label-52158' class=' answer'><span>Is the rate at which each dollar of taxable income is taxed on average; calculated by dividing the tax liability by non-taxable income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12597[]' id='answer-id-52159' class='answer   answerof-12597 ' value='52159'   \/><label for='answer-id-52159' id='answer-label-52159' class=' answer'><span>Is the rate at which each dollar of taxable income is taxed on average; calculated by dividing the tax liability by expenses<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-57' style=';'><div id='questionWrap-57'  class='   watupro-question-id-12598'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>57. <\/span>Which of the following would be included in a cash budget?<\/div><input type='hidden' name='question_id[]' id='qID_57' value='12598' \/><input type='hidden' id='answerType12598' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12598[]' id='answer-id-52160' class='answer   answerof-12598 ' value='52160'   \/><label for='answer-id-52160' id='answer-label-52160' class=' answer'><span>Depreciation charges<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12598[]' id='answer-id-52161' class='answer   answerof-12598 ' value='52161'   \/><label for='answer-id-52161' id='answer-label-52161' class=' answer'><span>Dividends<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12598[]' id='answer-id-52162' class='answer   answerof-12598 ' value='52162'   \/><label for='answer-id-52162' id='answer-label-52162' class=' answer'><span>Patents<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12598[]' id='answer-id-52163' class='answer   answerof-12598 ' value='52163'   \/><label for='answer-id-52163' id='answer-label-52163' class=' answer'><span>Amortization<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-58' style=';'><div id='questionWrap-58'  class='   watupro-question-id-12599'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>58. <\/span>It is the deduction of AGI based on the number of persons supported by the taxpayer\u2019s income<\/div><input type='hidden' name='question_id[]' id='qID_58' value='12599' \/><input type='hidden' id='answerType12599' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12599[]' id='answer-id-52164' class='answer   answerof-12599 ' value='52164'   \/><label for='answer-id-52164' id='answer-label-52164' class=' answer'><span>Exemption<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12599[]' id='answer-id-52165' class='answer   answerof-12599 ' value='52165'   \/><label for='answer-id-52165' id='answer-label-52165' class=' answer'><span>Dependence<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12599[]' id='answer-id-52166' class='answer   answerof-12599 ' value='52166'   \/><label for='answer-id-52166' id='answer-label-52166' class=' answer'><span>Tax payment<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12599[]' id='answer-id-52167' class='answer   answerof-12599 ' value='52167'   \/><label for='answer-id-52167' id='answer-label-52167' class=' answer'><span>Adjustment<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-59' style=';'><div id='questionWrap-59'  class='   watupro-question-id-12600'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>59. <\/span>Exemptions are phased out and eliminated altogether for taxpayers with high levels of AGI. <br \/>\r<br>After adjusting for inflation it applies to single taxpayers with 2008 AGI:<\/div><input type='hidden' name='question_id[]' id='qID_59' value='12600' \/><input type='hidden' id='answerType12600' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12600[]' id='answer-id-52168' class='answer   answerof-12600 ' value='52168'   \/><label for='answer-id-52168' id='answer-label-52168' class=' answer'><span>Under $159,950<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12600[]' id='answer-id-52169' class='answer   answerof-12600 ' value='52169'   \/><label for='answer-id-52169' id='answer-label-52169' class=' answer'><span>Over $159,950<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12600[]' id='answer-id-52170' class='answer   answerof-12600 ' value='52170'   \/><label for='answer-id-52170' id='answer-label-52170' class=' answer'><span>Equal to $179,950<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12600[]' id='answer-id-52171' class='answer   answerof-12600 ' value='52171'   \/><label for='answer-id-52171' id='answer-label-52171' class=' answer'><span>Over $189,950<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-60' style=';'><div id='questionWrap-60'  class='   watupro-question-id-12601'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>60. <\/span>The illegal act failing to accurately report income or deductions and in extreme cases, failing to pay taxes altogether is:<\/div><input type='hidden' name='question_id[]' id='qID_60' value='12601' \/><input type='hidden' id='answerType12601' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12601[]' id='answer-id-52172' class='answer   answerof-12601 ' value='52172'   \/><label for='answer-id-52172' id='answer-label-52172' class=' answer'><span>Tax avoidance<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12601[]' id='answer-id-52173' class='answer   answerof-12601 ' value='52173'   \/><label for='answer-id-52173' id='answer-label-52173' class=' answer'><span>Tax Invasion<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12601[]' id='answer-id-52174' class='answer   answerof-12601 ' value='52174'   \/><label for='answer-id-52174' id='answer-label-52174' class=' answer'><span>Tax Evasion<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12601[]' id='answer-id-52175' class='answer   answerof-12601 ' value='52175'   \/><label for='answer-id-52175' id='answer-label-52175' class=' answer'><span>None of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-61' style=';'><div id='questionWrap-61'  class='   watupro-question-id-12602'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>61. <\/span>It is a technique used to reduce taxes in which a taxpayer shifts a portion of income to relatives in lower tax brackets. <br \/>\r<br>What is it?<\/div><input type='hidden' name='question_id[]' id='qID_61' value='12602' \/><input type='hidden' id='answerType12602' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12602[]' id='answer-id-52176' class='answer   answerof-12602 ' value='52176'   \/><label for='answer-id-52176' id='answer-label-52176' class=' answer'><span>Income shifting<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12602[]' id='answer-id-52177' class='answer   answerof-12602 ' value='52177'   \/><label for='answer-id-52177' id='answer-label-52177' class=' answer'><span>Deductions maximization<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12602[]' id='answer-id-52178' class='answer   answerof-12602 ' value='52178'   \/><label for='answer-id-52178' id='answer-label-52178' class=' answer'><span>Tax deference<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12602[]' id='answer-id-52179' class='answer   answerof-12602 ' value='52179'   \/><label for='answer-id-52179' id='answer-label-52179' class=' answer'><span>Tax evasion<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-62' style=';'><div id='questionWrap-62'  class='   watupro-question-id-12603'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>62. <\/span>A good way to keep your spending in line is to make all household transactions (even fun money or weekly cash allowances) using a tightly controlled:<\/div><input type='hidden' name='question_id[]' id='qID_62' value='12603' \/><input type='hidden' id='answerType12603' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12603[]' id='answer-id-52180' class='answer   answerof-12603 ' value='52180'   \/><label for='answer-id-52180' id='answer-label-52180' class=' answer'><span>Checking account<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12603[]' id='answer-id-52181' class='answer   answerof-12603 ' value='52181'   \/><label for='answer-id-52181' id='answer-label-52181' class=' answer'><span>Balance sheet<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12603[]' id='answer-id-52182' class='answer   answerof-12603 ' value='52182'   \/><label for='answer-id-52182' id='answer-label-52182' class=' answer'><span>Budget<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12603[]' id='answer-id-52183' class='answer   answerof-12603 ' value='52183'   \/><label for='answer-id-52183' id='answer-label-52183' class=' answer'><span>Savings account<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-63' style=';'><div id='questionWrap-63'  class='   watupro-question-id-12604'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>63. <\/span>An account offered by credit unions that is similar to interest paying checking accounts offered by the other financial institutions is:<\/div><input type='hidden' name='question_id[]' id='qID_63' value='12604' \/><input type='hidden' id='answerType12604' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12604[]' id='answer-id-52184' class='answer   answerof-12604 ' value='52184'   \/><label for='answer-id-52184' id='answer-label-52184' class=' answer'><span>Deposit insurance<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12604[]' id='answer-id-52185' class='answer   answerof-12604 ' value='52185'   \/><label for='answer-id-52185' id='answer-label-52185' class=' answer'><span>Share draft account<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12604[]' id='answer-id-52186' class='answer   answerof-12604 ' value='52186'   \/><label for='answer-id-52186' id='answer-label-52186' class=' answer'><span>Internet bank<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12604[]' id='answer-id-52187' class='answer   answerof-12604 ' value='52187'   \/><label for='answer-id-52187' id='answer-label-52187' class=' answer'><span>Checking and saving accounts<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-64' style=';'><div id='questionWrap-64'  class='   watupro-question-id-12605'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>64. <\/span>It is a type of insurance account that protects funds on deposit against failure of the institution; can be insured by FDIC and the NCUA.<\/div><input type='hidden' name='question_id[]' id='qID_64' value='12605' \/><input type='hidden' id='answerType12605' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12605[]' id='answer-id-52188' class='answer   answerof-12605 ' value='52188'   \/><label for='answer-id-52188' id='answer-label-52188' class=' answer'><span>Deposit insurance<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12605[]' id='answer-id-52189' class='answer   answerof-12605 ' value='52189'   \/><label for='answer-id-52189' id='answer-label-52189' class=' answer'><span>Share draft account<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12605[]' id='answer-id-52190' class='answer   answerof-12605 ' value='52190'   \/><label for='answer-id-52190' id='answer-label-52190' class=' answer'><span>Internet bank<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12605[]' id='answer-id-52191' class='answer   answerof-12605 ' value='52191'   \/><label for='answer-id-52191' id='answer-label-52191' class=' answer'><span>Checking and saving accounts<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-65' style=';'><div id='questionWrap-65'  class='   watupro-question-id-12606'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>65. <\/span>_____________ are a popular offering at bank and other depository institutions and competes for deposits with money market and mutual funds.<\/div><input type='hidden' name='question_id[]' id='qID_65' value='12606' \/><input type='hidden' id='answerType12606' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12606[]' id='answer-id-52192' class='answer   answerof-12606 ' value='52192'   \/><label for='answer-id-52192' id='answer-label-52192' class=' answer'><span>Money market deposit accounts<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12606[]' id='answer-id-52193' class='answer   answerof-12606 ' value='52193'   \/><label for='answer-id-52193' id='answer-label-52193' class=' answer'><span>Money market mutual funds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12606[]' id='answer-id-52194' class='answer   answerof-12606 ' value='52194'   \/><label for='answer-id-52194' id='answer-label-52194' class=' answer'><span>Time deposit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12606[]' id='answer-id-52195' class='answer   answerof-12606 ' value='52195'   \/><label for='answer-id-52195' id='answer-label-52195' class=' answer'><span>Asset management account<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-66' style=';'><div id='questionWrap-66'  class='   watupro-question-id-12607'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>66. <\/span>________________ pools the funds f many small investors to purchase high return, short term marketable securities offered by the U. S treasury.<\/div><input type='hidden' name='question_id[]' id='qID_66' value='12607' \/><input type='hidden' id='answerType12607' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12607[]' id='answer-id-52196' class='answer   answerof-12607 ' value='52196'   \/><label for='answer-id-52196' id='answer-label-52196' class=' answer'><span>Money market deposit accounts<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12607[]' id='answer-id-52197' class='answer   answerof-12607 ' value='52197'   \/><label for='answer-id-52197' id='answer-label-52197' class=' answer'><span>Money market mutual funds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12607[]' id='answer-id-52198' class='answer   answerof-12607 ' value='52198'   \/><label for='answer-id-52198' id='answer-label-52198' class=' answer'><span>Time deposit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12607[]' id='answer-id-52199' class='answer   answerof-12607 ' value='52199'   \/><label for='answer-id-52199' id='answer-label-52199' class=' answer'><span>Asset management account<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-67' style=';'><div id='questionWrap-67'  class='   watupro-question-id-12608'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>67. <\/span>It is a formal, legal commitment to extend credit up to some maximum amount over a stated period of time.<\/div><input type='hidden' name='question_id[]' id='qID_67' value='12608' \/><input type='hidden' id='answerType12608' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12608[]' id='answer-id-52200' class='answer   answerof-12608 ' value='52200'   \/><label for='answer-id-52200' id='answer-label-52200' class=' answer'><span>Letter of credit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12608[]' id='answer-id-52201' class='answer   answerof-12608 ' value='52201'   \/><label for='answer-id-52201' id='answer-label-52201' class=' answer'><span>Revolving credit agreement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12608[]' id='answer-id-52202' class='answer   answerof-12608 ' value='52202'   \/><label for='answer-id-52202' id='answer-label-52202' class=' answer'><span>Line of credit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12608[]' id='answer-id-52203' class='answer   answerof-12608 ' value='52203'   \/><label for='answer-id-52203' id='answer-label-52203' class=' answer'><span>Trade credit<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-68' style=';'><div id='questionWrap-68'  class='   watupro-question-id-12609'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>68. <\/span>The type(s) of collateral generally used for a secured short-term loan is(are):<\/div><input type='hidden' name='question_id[]' id='qID_68' value='12609' \/><input type='hidden' id='answerType12609' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12609[]' id='answer-id-52204' class='answer   answerof-12609 ' value='52204'   \/><label for='answer-id-52204' id='answer-label-52204' class=' answer'><span>Inventory and\/or receivables<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12609[]' id='answer-id-52205' class='answer   answerof-12609 ' value='52205'   \/><label for='answer-id-52205' id='answer-label-52205' class=' answer'><span>Common Stocks and bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12609[]' id='answer-id-52206' class='answer   answerof-12609 ' value='52206'   \/><label for='answer-id-52206' id='answer-label-52206' class=' answer'><span>Real estate<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12609[]' id='answer-id-52207' class='answer   answerof-12609 ' value='52207'   \/><label for='answer-id-52207' id='answer-label-52207' class=' answer'><span>Machinery<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-69' style=';'><div id='questionWrap-69'  class='   watupro-question-id-12610'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>69. <\/span>The investment proposal with the greatest relative risk would have:<\/div><input type='hidden' name='question_id[]' id='qID_69' value='12610' \/><input type='hidden' id='answerType12610' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12610[]' id='answer-id-52208' class='answer   answerof-12610 ' value='52208'   \/><label for='answer-id-52208' id='answer-label-52208' class=' answer'><span>The highest standard deviation of net present value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12610[]' id='answer-id-52209' class='answer   answerof-12610 ' value='52209'   \/><label for='answer-id-52209' id='answer-label-52209' class=' answer'><span>The highest coefficient of variation of net present value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12610[]' id='answer-id-52210' class='answer   answerof-12610 ' value='52210'   \/><label for='answer-id-52210' id='answer-label-52210' class=' answer'><span>The highest expected value of net present value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12610[]' id='answer-id-52211' class='answer   answerof-12610 ' value='52211'   \/><label for='answer-id-52211' id='answer-label-52211' class=' answer'><span>The lowest opportunity loss likelihood<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-70' style=';'><div id='questionWrap-70'  class='   watupro-question-id-12611'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>70. <\/span>A safe-deposit box is a rented drawer in a bank\u2019s vault. Boxes can be rented for:<\/div><input type='hidden' name='question_id[]' id='qID_70' value='12611' \/><input type='hidden' id='answerType12611' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12611[]' id='answer-id-52212' class='answer   answerof-12611 ' value='52212'   \/><label for='answer-id-52212' id='answer-label-52212' class=' answer'><span>$40<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12611[]' id='answer-id-52213' class='answer   answerof-12611 ' value='52213'   \/><label for='answer-id-52213' id='answer-label-52213' class=' answer'><span>$30<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12611[]' id='answer-id-52214' class='answer   answerof-12611 ' value='52214'   \/><label for='answer-id-52214' id='answer-label-52214' class=' answer'><span>$40-$85<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12611[]' id='answer-id-52215' class='answer   answerof-12611 ' value='52215'   \/><label for='answer-id-52215' id='answer-label-52215' class=' answer'><span>$90<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-71' style=';'><div id='questionWrap-71'  class='   watupro-question-id-12612'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>71. <\/span>Probability-tree analysis is best used when cash flows are expected to be:<\/div><input type='hidden' name='question_id[]' id='qID_71' value='12612' \/><input type='hidden' id='answerType12612' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12612[]' id='answer-id-52216' class='answer   answerof-12612 ' value='52216'   \/><label for='answer-id-52216' id='answer-label-52216' class=' answer'><span>Independent over time<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12612[]' id='answer-id-52217' class='answer   answerof-12612 ' value='52217'   \/><label for='answer-id-52217' id='answer-label-52217' class=' answer'><span>Risk-free<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12612[]' id='answer-id-52218' class='answer   answerof-12612 ' value='52218'   \/><label for='answer-id-52218' id='answer-label-52218' class=' answer'><span>Related to the cash flows in previous periods<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12612[]' id='answer-id-52219' class='answer   answerof-12612 ' value='52219'   \/><label for='answer-id-52219' id='answer-label-52219' class=' answer'><span>Known with certainty<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-72' style=';'><div id='questionWrap-72'  class='   watupro-question-id-12613'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>72. <\/span>You are considering two mutually exclusive investment proposals, project A and project B B's expected value of net present value is $1,000 less than that for A and A has less dispersion. On the basis of risk and return, you would say that<\/div><input type='hidden' name='question_id[]' id='qID_72' value='12613' \/><input type='hidden' id='answerType12613' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12613[]' id='answer-id-52220' class='answer   answerof-12613 ' value='52220'   \/><label for='answer-id-52220' id='answer-label-52220' class=' answer'><span>Project A dominates project B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12613[]' id='answer-id-52221' class='answer   answerof-12613 ' value='52221'   \/><label for='answer-id-52221' id='answer-label-52221' class=' answer'><span>Project B dominates project A<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12613[]' id='answer-id-52222' class='answer   answerof-12613 ' value='52222'   \/><label for='answer-id-52222' id='answer-label-52222' class=' answer'><span>Project A is more risky and should offer greater expected value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12613[]' id='answer-id-52223' class='answer   answerof-12613 ' value='52223'   \/><label for='answer-id-52223' id='answer-label-52223' class=' answer'><span>Each project is high on one variable, so the two are basically equal<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-73' style=';'><div id='questionWrap-73'  class='   watupro-question-id-12614'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>73. <\/span>If two projects are completely independent (or unrelated), the measure of correlation between them is:<\/div><input type='hidden' name='question_id[]' id='qID_73' value='12614' \/><input type='hidden' id='answerType12614' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12614[]' id='answer-id-52224' class='answer   answerof-12614 ' value='52224'   \/><label for='answer-id-52224' id='answer-label-52224' class=' answer'><span>0<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12614[]' id='answer-id-52225' class='answer   answerof-12614 ' value='52225'   \/><label for='answer-id-52225' id='answer-label-52225' class=' answer'><span>0.5<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12614[]' id='answer-id-52226' class='answer   answerof-12614 ' value='52226'   \/><label for='answer-id-52226' id='answer-label-52226' class=' answer'><span>1<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12614[]' id='answer-id-52227' class='answer   answerof-12614 ' value='52227'   \/><label for='answer-id-52227' id='answer-label-52227' class=' answer'><span>-1<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-74' style=';'><div id='questionWrap-74'  class='   watupro-question-id-12615'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>74. <\/span>Managerial options can be viewed as:<\/div><input type='hidden' name='question_id[]' id='qID_74' value='12615' \/><input type='hidden' id='answerType12615' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12615[]' id='answer-id-52228' class='answer   answerof-12615 ' value='52228'   \/><label for='answer-id-52228' id='answer-label-52228' class=' answer'><span>Methods for reducing agency risk through the use of incentives<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12615[]' id='answer-id-52229' class='answer   answerof-12615 ' value='52229'   \/><label for='answer-id-52229' id='answer-label-52229' class=' answer'><span>Methods for reducing total firm risk through diversification<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12615[]' id='answer-id-52230' class='answer   answerof-12615 ' value='52230'   \/><label for='answer-id-52230' id='answer-label-52230' class=' answer'><span>Strategies for increasing management compensation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12615[]' id='answer-id-52231' class='answer   answerof-12615 ' value='52231'   \/><label for='answer-id-52231' id='answer-label-52231' class=' answer'><span>Opportunities for altering management decisions in the future<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-75' style=';'><div id='questionWrap-75'  class='   watupro-question-id-12616'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>75. <\/span>Checkbook ledger:<\/div><input type='hidden' name='question_id[]' id='qID_75' value='12616' \/><input type='hidden' id='answerType12616' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12616[]' id='answer-id-52232' class='answer   answerof-12616 ' value='52232'   \/><label for='answer-id-52232' id='answer-label-52232' class=' answer'><span>Is for informal use<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12616[]' id='answer-id-52233' class='answer   answerof-12616 ' value='52233'   \/><label for='answer-id-52233' id='answer-label-52233' class=' answer'><span>Is a booklet provided with a supply of check<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12616[]' id='answer-id-52234' class='answer   answerof-12616 ' value='52234'   \/><label for='answer-id-52234' id='answer-label-52234' class=' answer'><span>Used to maintain accurate record<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12616[]' id='answer-id-52235' class='answer   answerof-12616 ' value='52235'   \/><label for='answer-id-52235' id='answer-label-52235' class=' answer'><span>Both B and C are correct<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-76' style=';'><div id='questionWrap-76'  class='   watupro-question-id-12617'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>76. <\/span>Assume that you purchase a car for $20,000 in September. You make a down payment of $3000 and finance the remaining amount $17000 with a 4-year, 5.5% installment loan payable monthly. <br \/>\r<br>Your September 30 income statement would show a cash expenditure of $3000, and each subsequent monthly income statement would your monthly loan payment of:<\/div><input type='hidden' name='question_id[]' id='qID_76' value='12617' \/><input type='hidden' id='answerType12617' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12617[]' id='answer-id-52236' class='answer   answerof-12617 ' value='52236'   \/><label for='answer-id-52236' id='answer-label-52236' class=' answer'><span>$395<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12617[]' id='answer-id-52237' class='answer   answerof-12617 ' value='52237'   \/><label for='answer-id-52237' id='answer-label-52237' class=' answer'><span>$495<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12617[]' id='answer-id-52238' class='answer   answerof-12617 ' value='52238'   \/><label for='answer-id-52238' id='answer-label-52238' class=' answer'><span>$795<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12617[]' id='answer-id-52239' class='answer   answerof-12617 ' value='52239'   \/><label for='answer-id-52239' id='answer-label-52239' class=' answer'><span>$295<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-77' style=';'><div id='questionWrap-77'  class='   watupro-question-id-12618'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>77. <\/span>Calculating certain financial ratios can help you evaluate your financial performance over time. <br \/>\r<br>What\u2019s more, if you apply for a loan, the lender probably will look at the ratios to judge your ability to carry additional debt. <br \/>\r<br>Four important money management ratios are all of the following Except:<\/div><input type='hidden' name='question_id[]' id='qID_77' value='12618' \/><input type='hidden' id='answerType12618' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12618[]' id='answer-id-52240' class='answer   answerof-12618 ' value='52240'   \/><label for='answer-id-52240' id='answer-label-52240' class=' answer'><span>Solvency ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12618[]' id='answer-id-52241' class='answer   answerof-12618 ' value='52241'   \/><label for='answer-id-52241' id='answer-label-52241' class=' answer'><span>Liquidity ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12618[]' id='answer-id-52242' class='answer   answerof-12618 ' value='52242'   \/><label for='answer-id-52242' id='answer-label-52242' class=' answer'><span>Savings account ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12618[]' id='answer-id-52243' class='answer   answerof-12618 ' value='52243'   \/><label for='answer-id-52243' id='answer-label-52243' class=' answer'><span>Debt service ratio<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-78' style=';'><div id='questionWrap-78'  class='   watupro-question-id-12619'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>78. <\/span>The amount of liquid funds will vary with your personal circumstances and comfort level. <br \/>\r<br>Another useful liquidity guideline is to have a reserve fund equal to:<\/div><input type='hidden' name='question_id[]' id='qID_78' value='12619' \/><input type='hidden' id='answerType12619' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12619[]' id='answer-id-52244' class='answer   answerof-12619 ' value='52244'   \/><label for='answer-id-52244' id='answer-label-52244' class=' answer'><span>3 to 6 months of income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12619[]' id='answer-id-52245' class='answer   answerof-12619 ' value='52245'   \/><label for='answer-id-52245' id='answer-label-52245' class=' answer'><span>3 to 6 months of after tax income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12619[]' id='answer-id-52246' class='answer   answerof-12619 ' value='52246'   \/><label for='answer-id-52246' id='answer-label-52246' class=' answer'><span>4 to 8 months of after tax income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12619[]' id='answer-id-52247' class='answer   answerof-12619 ' value='52247'   \/><label for='answer-id-52247' id='answer-label-52247' class=' answer'><span>6 to 12 months of income<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-79' style=';'><div id='questionWrap-79'  class='   watupro-question-id-12620'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>79. <\/span>Even if, the annual balances, in certain months\u2019 expenses may exceed income, causing a monthly budget deficit. Likewise, a surplus occurs when income in some months exceed expenses. <br \/>\r<br>It remedy may be:<\/div><input type='hidden' name='question_id[]' id='qID_79' value='12620' \/><input type='hidden' id='answerType12620' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12620[]' id='answer-id-52248' class='answer   answerof-12620 ' value='52248'   \/><label for='answer-id-52248' id='answer-label-52248' class=' answer'><span>Shift expenses from months which budget, deficits to months with surpluses for, (or alternatively, transfer income, if possible, from months with surpluses to those with deficit)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12620[]' id='answer-id-52249' class='answer   answerof-12620 ' value='52249'   \/><label for='answer-id-52249' id='answer-label-52249' class=' answer'><span>Use savings, investments, or borrowing to cover temporary deficits<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12620[]' id='answer-id-52250' class='answer   answerof-12620 ' value='52250'   \/><label for='answer-id-52250' id='answer-label-52250' class=' answer'><span>Estimate genuine expenses<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12620[]' id='answer-id-52251' class='answer   answerof-12620 ' value='52251'   \/><label for='answer-id-52251' id='answer-label-52251' class=' answer'><span>Pay off your credit card<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-80' style=';'><div id='questionWrap-80'  class='   watupro-question-id-12621'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>80. <\/span>It is the value today of an amount to be received in future; it is the amount that would have to be invested today at a given interest rate over a specified period of time to accumulate the future amount. <br \/>\r<br>What is it?<\/div><input type='hidden' name='question_id[]' id='qID_80' value='12621' \/><input type='hidden' id='answerType12621' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12621[]' id='answer-id-52252' class='answer   answerof-12621 ' value='52252'   \/><label for='answer-id-52252' id='answer-label-52252' class=' answer'><span>Present value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12621[]' id='answer-id-52253' class='answer   answerof-12621 ' value='52253'   \/><label for='answer-id-52253' id='answer-label-52253' class=' answer'><span>Discounted value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12621[]' id='answer-id-52254' class='answer   answerof-12621 ' value='52254'   \/><label for='answer-id-52254' id='answer-label-52254' class=' answer'><span>Compounded value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12621[]' id='answer-id-52255' class='answer   answerof-12621 ' value='52255'   \/><label for='answer-id-52255' id='answer-label-52255' class=' answer'><span>Lump-sum value<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-81' style=';'><div id='questionWrap-81'  class='   watupro-question-id-12622'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>81. <\/span>The dues paid for membership in our society; the cost of living in this country may be referred as:<\/div><input type='hidden' name='question_id[]' id='qID_81' value='12622' \/><input type='hidden' id='answerType12622' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12622[]' id='answer-id-52256' class='answer   answerof-12622 ' value='52256'   \/><label for='answer-id-52256' id='answer-label-52256' class=' answer'><span>Income deficit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12622[]' id='answer-id-52257' class='answer   answerof-12622 ' value='52257'   \/><label for='answer-id-52257' id='answer-label-52257' class=' answer'><span>Expenses<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12622[]' id='answer-id-52258' class='answer   answerof-12622 ' value='52258'   \/><label for='answer-id-52258' id='answer-label-52258' class=' answer'><span>Taxes<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12622[]' id='answer-id-52259' class='answer   answerof-12622 ' value='52259'   \/><label for='answer-id-52259' id='answer-label-52259' class=' answer'><span>Filing surplus<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-82' style=';'><div id='questionWrap-82'  class='   watupro-question-id-12623'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>82. <\/span>Taxable income is:<\/div><input type='hidden' name='question_id[]' id='qID_82' value='12623' \/><input type='hidden' id='answerType12623' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12623[]' id='answer-id-52260' class='answer   answerof-12623 ' value='52260'   \/><label for='answer-id-52260' id='answer-label-52260' class=' answer'><span>The amount of income subject to taxes; it is calculated by subtracting expenses, the larger of itemized or standard deductions, and exemptions from gross income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12623[]' id='answer-id-52261' class='answer   answerof-12623 ' value='52261'   \/><label for='answer-id-52261' id='answer-label-52261' class=' answer'><span>The amount of income subject to taxes; it is calculated by subtracting adjustments, the larger of itemized or standard depreciations, and exemptions from gross income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12623[]' id='answer-id-52262' class='answer   answerof-12623 ' value='52262'   \/><label for='answer-id-52262' id='answer-label-52262' class=' answer'><span>The amount of income subject to taxes; it is calculated by subtracting adjustments, the larger of itemized or standard deductions, and exemptions from gross income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12623[]' id='answer-id-52263' class='answer   answerof-12623 ' value='52263'   \/><label for='answer-id-52263' id='answer-label-52263' class=' answer'><span>The amount of income subject to taxes; it is calculated by subtracting adjustments, the larger of itemized or standard deductions, and exemptions from earned income<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-83' style=';'><div id='questionWrap-83'  class='   watupro-question-id-12624'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>83. <\/span>Gross income essentially includes any and all income subject to federal taxes. <br \/>\r<br>Here are some common forms of gross income Except:<\/div><input type='hidden' name='question_id[]' id='qID_83' value='12624' \/><input type='hidden' id='answerType12624' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12624[]' id='answer-id-52264' class='answer   answerof-12624 ' value='52264'   \/><label for='answer-id-52264' id='answer-label-52264' class=' answer'><span>Wages and salaries<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12624[]' id='answer-id-52265' class='answer   answerof-12624 ' value='52265'   \/><label for='answer-id-52265' id='answer-label-52265' class=' answer'><span>Bonuses, commissions, and tips<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12624[]' id='answer-id-52266' class='answer   answerof-12624 ' value='52266'   \/><label for='answer-id-52266' id='answer-label-52266' class=' answer'><span>Interest and dividends received<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12624[]' id='answer-id-52267' class='answer   answerof-12624 ' value='52267'   \/><label for='answer-id-52267' id='answer-label-52267' class=' answer'><span>Alimony paid<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-84' style=';'><div id='questionWrap-84'  class='   watupro-question-id-12625'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>84. <\/span>An adoption tax credit of up to $11650 is available for the qualifying costs of adopting child under age 18. Only taxpayers with AGI under $17,730 are eligible for the adoption tax credit. Here are some other common tax credits. <br \/>\r<br>Which of the following is\/are Not out of those?<\/div><input type='hidden' name='question_id[]' id='qID_84' value='12625' \/><input type='hidden' id='answerType12625' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12625[]' id='answer-id-52268' class='answer   answerof-12625 ' value='52268'   \/><label for='answer-id-52268' id='answer-label-52268' class=' answer'><span>Credit for the elderly or the disabled<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12625[]' id='answer-id-52269' class='answer   answerof-12625 ' value='52269'   \/><label for='answer-id-52269' id='answer-label-52269' class=' answer'><span>National tax credit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12625[]' id='answer-id-52270' class='answer   answerof-12625 ' value='52270'   \/><label for='answer-id-52270' id='answer-label-52270' class=' answer'><span>Credit for prior year minimum tax<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12625[]' id='answer-id-52271' class='answer   answerof-12625 ' value='52271'   \/><label for='answer-id-52271' id='answer-label-52271' class=' answer'><span>Credit for qualified electric vehicle<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-85' style=';'><div id='questionWrap-85'  class='   watupro-question-id-12626'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>85. <\/span>An extension of time beyond the April 15 deadline during which taxpayers, with the approval of the IRS, can file their returns without incurring penalties.<\/div><input type='hidden' name='question_id[]' id='qID_85' value='12626' \/><input type='hidden' id='answerType12626' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12626[]' id='answer-id-52272' class='answer   answerof-12626 ' value='52272'   \/><label for='answer-id-52272' id='answer-label-52272' class=' answer'><span>Filing extension<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12626[]' id='answer-id-52273' class='answer   answerof-12626 ' value='52273'   \/><label for='answer-id-52273' id='answer-label-52273' class=' answer'><span>Amended return<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12626[]' id='answer-id-52274' class='answer   answerof-12626 ' value='52274'   \/><label for='answer-id-52274' id='answer-label-52274' class=' answer'><span>Estimated taxes<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12626[]' id='answer-id-52275' class='answer   answerof-12626 ' value='52275'   \/><label for='answer-id-52275' id='answer-label-52275' class=' answer'><span>None of the above<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-86' style=';'><div id='questionWrap-86'  class='   watupro-question-id-12627'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>86. <\/span>A technique used to reduce taxes in which a taxpayer shifts a portion of income to relatives in lower tax brackets.<\/div><input type='hidden' name='question_id[]' id='qID_86' value='12627' \/><input type='hidden' id='answerType12627' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12627[]' id='answer-id-52276' class='answer   answerof-12627 ' value='52276'   \/><label for='answer-id-52276' id='answer-label-52276' class=' answer'><span>Income shifting<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12627[]' id='answer-id-52277' class='answer   answerof-12627 ' value='52277'   \/><label for='answer-id-52277' id='answer-label-52277' class=' answer'><span>Tax deferred<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12627[]' id='answer-id-52278' class='answer   answerof-12627 ' value='52278'   \/><label for='answer-id-52278' id='answer-label-52278' class=' answer'><span>Tax avoidance<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12627[]' id='answer-id-52279' class='answer   answerof-12627 ' value='52279'   \/><label for='answer-id-52279' id='answer-label-52279' class=' answer'><span>Tax Evasion<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-87' style=';'><div id='questionWrap-87'  class='   watupro-question-id-12628'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>87. <\/span>When using a probability tree approach, we discount the various cash flows to their present value at:<\/div><input type='hidden' name='question_id[]' id='qID_87' value='12628' \/><input type='hidden' id='answerType12628' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12628[]' id='answer-id-52280' class='answer   answerof-12628 ' value='52280'   \/><label for='answer-id-52280' id='answer-label-52280' class=' answer'><span>The firm's weighted-average cost of capital<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12628[]' id='answer-id-52281' class='answer   answerof-12628 ' value='52281'   \/><label for='answer-id-52281' id='answer-label-52281' class=' answer'><span>The project's required rate of return<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12628[]' id='answer-id-52282' class='answer   answerof-12628 ' value='52282'   \/><label for='answer-id-52282' id='answer-label-52282' class=' answer'><span>The risk-free rate<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12628[]' id='answer-id-52283' class='answer   answerof-12628 ' value='52283'   \/><label for='answer-id-52283' id='answer-label-52283' class=' answer'><span>The after-tax cost of the firm's long-term debt<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-88' style=';'><div id='questionWrap-88'  class='   watupro-question-id-12629'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>88. <\/span>A managerial option, in effect:<\/div><input type='hidden' name='question_id[]' id='qID_88' value='12629' \/><input type='hidden' id='answerType12629' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12629[]' id='answer-id-52284' class='answer   answerof-12629 ' value='52284'   \/><label for='answer-id-52284' id='answer-label-52284' class=' answer'><span>Limits the flexibility of management's decision-making<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12629[]' id='answer-id-52285' class='answer   answerof-12629 ' value='52285'   \/><label for='answer-id-52285' id='answer-label-52285' class=' answer'><span>Limits the downside risk of an investment project<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12629[]' id='answer-id-52286' class='answer   answerof-12629 ' value='52286'   \/><label for='answer-id-52286' id='answer-label-52286' class=' answer'><span>Limits the profit potential of a proposed project<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12629[]' id='answer-id-52287' class='answer   answerof-12629 ' value='52287'   \/><label for='answer-id-52287' id='answer-label-52287' class=' answer'><span>Applies only to new projects<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-89' style=';'><div id='questionWrap-89'  class='   watupro-question-id-12630'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>89. <\/span>The presence of managerial, or real, options the worth of an investment project.<\/div><input type='hidden' name='question_id[]' id='qID_89' value='12630' \/><input type='hidden' id='answerType12630' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12630[]' id='answer-id-52288' class='answer   answerof-12630 ' value='52288'   \/><label for='answer-id-52288' id='answer-label-52288' class=' answer'><span>Increases<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12630[]' id='answer-id-52289' class='answer   answerof-12630 ' value='52289'   \/><label for='answer-id-52289' id='answer-label-52289' class=' answer'><span>Decreases<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12630[]' id='answer-id-52290' class='answer   answerof-12630 ' value='52290'   \/><label for='answer-id-52290' id='answer-label-52290' class=' answer'><span>Does not affect<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12630[]' id='answer-id-52291' class='answer   answerof-12630 ' value='52291'   \/><label for='answer-id-52291' id='answer-label-52291' class=' answer'><span>Increases or decrease<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-90' style=';'><div id='questionWrap-90'  class='   watupro-question-id-12631'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>90. <\/span>A firm's degree of operating leverage (DOL) depends primarily upon its:<\/div><input type='hidden' name='question_id[]' id='qID_90' value='12631' \/><input type='hidden' id='answerType12631' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12631[]' id='answer-id-52292' class='answer   answerof-12631 ' value='52292'   \/><label for='answer-id-52292' id='answer-label-52292' class=' answer'><span>Sales variability<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12631[]' id='answer-id-52293' class='answer   answerof-12631 ' value='52293'   \/><label for='answer-id-52293' id='answer-label-52293' class=' answer'><span>Level of fixed operating costs<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12631[]' id='answer-id-52294' class='answer   answerof-12631 ' value='52294'   \/><label for='answer-id-52294' id='answer-label-52294' class=' answer'><span>Closeness to its operating break-even point<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12631[]' id='answer-id-52295' class='answer   answerof-12631 ' value='52295'   \/><label for='answer-id-52295' id='answer-label-52295' class=' answer'><span>Debt-to-equity ratio<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-91' style=';'><div id='questionWrap-91'  class='   watupro-question-id-12632'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>91. <\/span>EBIT is usually the same thing as:<\/div><input type='hidden' name='question_id[]' id='qID_91' value='12632' \/><input type='hidden' id='answerType12632' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12632[]' id='answer-id-52296' class='answer   answerof-12632 ' value='52296'   \/><label for='answer-id-52296' id='answer-label-52296' class=' answer'><span>Funds provided by operations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12632[]' id='answer-id-52297' class='answer   answerof-12632 ' value='52297'   \/><label for='answer-id-52297' id='answer-label-52297' class=' answer'><span>Earnings before taxes<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12632[]' id='answer-id-52298' class='answer   answerof-12632 ' value='52298'   \/><label for='answer-id-52298' id='answer-label-52298' class=' answer'><span>Net income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12632[]' id='answer-id-52299' class='answer   answerof-12632 ' value='52299'   \/><label for='answer-id-52299' id='answer-label-52299' class=' answer'><span>Operating income<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-92' style=';'><div id='questionWrap-92'  class='   watupro-question-id-12633'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>92. <\/span>In the context of operating leverage break-even analysis, if selling price per unit rises and all other variables remain constant, the operating break-even point in units will:<\/div><input type='hidden' name='question_id[]' id='qID_92' value='12633' \/><input type='hidden' id='answerType12633' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12633[]' id='answer-id-52300' class='answer   answerof-12633 ' value='52300'   \/><label for='answer-id-52300' id='answer-label-52300' class=' answer'><span>Fall<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12633[]' id='answer-id-52301' class='answer   answerof-12633 ' value='52301'   \/><label for='answer-id-52301' id='answer-label-52301' class=' answer'><span>Rise<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12633[]' id='answer-id-52302' class='answer   answerof-12633 ' value='52302'   \/><label for='answer-id-52302' id='answer-label-52302' class=' answer'><span>Stay the same<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12633[]' id='answer-id-52303' class='answer   answerof-12633 ' value='52303'   \/><label for='answer-id-52303' id='answer-label-52303' class=' answer'><span>Still be indeterminate until interest and preferred dividends paid are known<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-93' style=';'><div id='questionWrap-93'  class='   watupro-question-id-12634'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>93. <\/span>This statistic can be used as a quantitative measure of relative &quot;financial risk.&quot;<\/div><input type='hidden' name='question_id[]' id='qID_93' value='12634' \/><input type='hidden' id='answerType12634' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12634[]' id='answer-id-52304' class='answer   answerof-12634 ' value='52304'   \/><label for='answer-id-52304' id='answer-label-52304' class=' answer'><span>Coefficient of variation of earnings per share (CVEPS)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12634[]' id='answer-id-52305' class='answer   answerof-12634 ' value='52305'   \/><label for='answer-id-52305' id='answer-label-52305' class=' answer'><span>Coefficient of variation of operating income (CVEBIT)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12634[]' id='answer-id-52306' class='answer   answerof-12634 ' value='52306'   \/><label for='answer-id-52306' id='answer-label-52306' class=' answer'><span>(CVEPS - CVEBIT)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12634[]' id='answer-id-52307' class='answer   answerof-12634 ' value='52307'   \/><label for='answer-id-52307' id='answer-label-52307' class=' answer'><span>(CVEPS + CVEBIT)<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-94' style=';'><div id='questionWrap-94'  class='   watupro-question-id-12635'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>94. <\/span>Espinosa Coffee &amp; Trading, Inc.'s common stock measured beta is calculated to be 0.75. The market beta is, of course, 1.00 and the beta of the industry of which the company is a part is 1.10. <br \/>\r<br>If Merrill Lych were to calculate an &quot;adjusted beta&quot; for Espinosa's common stock, that adjusted beta would most likely be:<\/div><input type='hidden' name='question_id[]' id='qID_94' value='12635' \/><input type='hidden' id='answerType12635' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12635[]' id='answer-id-52308' class='answer   answerof-12635 ' value='52308'   \/><label for='answer-id-52308' id='answer-label-52308' class=' answer'><span>less than 0.75<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12635[]' id='answer-id-52309' class='answer   answerof-12635 ' value='52309'   \/><label for='answer-id-52309' id='answer-label-52309' class=' answer'><span>more than 0.75, but less than 1.10<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12635[]' id='answer-id-52310' class='answer   answerof-12635 ' value='52310'   \/><label for='answer-id-52310' id='answer-label-52310' class=' answer'><span>equal to 1.10<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12635[]' id='answer-id-52311' class='answer   answerof-12635 ' value='52311'   \/><label for='answer-id-52311' id='answer-label-52311' class=' answer'><span>equal to 0.95 {i.e., (1\/3) x (0.75 + 1.00 + 1.10)}<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-95' style=';'><div id='questionWrap-95'  class='   watupro-question-id-12636'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>95. <\/span>What's the value to you of a $1,000 face-value bond with an 8% coupon rate when your required rate of return is 15 percent?<\/div><input type='hidden' name='question_id[]' id='qID_95' value='12636' \/><input type='hidden' id='answerType12636' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12636[]' id='answer-id-52312' class='answer   answerof-12636 ' value='52312'   \/><label for='answer-id-52312' id='answer-label-52312' class=' answer'><span>More than its face value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12636[]' id='answer-id-52313' class='answer   answerof-12636 ' value='52313'   \/><label for='answer-id-52313' id='answer-label-52313' class=' answer'><span>Less than its face value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12636[]' id='answer-id-52314' class='answer   answerof-12636 ' value='52314'   \/><label for='answer-id-52314' id='answer-label-52314' class=' answer'><span>$1000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12636[]' id='answer-id-52315' class='answer   answerof-12636 ' value='52315'   \/><label for='answer-id-52315' id='answer-label-52315' class=' answer'><span>True<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-96' style=';'><div id='questionWrap-96'  class='   watupro-question-id-12637'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>96. <\/span>If the intrinsic value of a stock is greater than its market value, which of the following is a reasonable conclusion?<\/div><input type='hidden' name='question_id[]' id='qID_96' value='12637' \/><input type='hidden' id='answerType12637' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12637[]' id='answer-id-52316' class='answer   answerof-12637 ' value='52316'   \/><label for='answer-id-52316' id='answer-label-52316' class=' answer'><span>The stock has a low level of risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12637[]' id='answer-id-52317' class='answer   answerof-12637 ' value='52317'   \/><label for='answer-id-52317' id='answer-label-52317' class=' answer'><span>The stock offers a high dividend payout ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12637[]' id='answer-id-52318' class='answer   answerof-12637 ' value='52318'   \/><label for='answer-id-52318' id='answer-label-52318' class=' answer'><span>The market is undervaluing the stock<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12637[]' id='answer-id-52319' class='answer   answerof-12637 ' value='52319'   \/><label for='answer-id-52319' id='answer-label-52319' class=' answer'><span>The market is overvaluing the stock<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-97' style=';'><div id='questionWrap-97'  class='   watupro-question-id-12638'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>97. <\/span>When the market's required rate of return for a particular bond is much less than its coupon rate, the bond is selling at:<\/div><input type='hidden' name='question_id[]' id='qID_97' value='12638' \/><input type='hidden' id='answerType12638' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12638[]' id='answer-id-52320' class='answer   answerof-12638 ' value='52320'   \/><label for='answer-id-52320' id='answer-label-52320' class=' answer'><span>A premium<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12638[]' id='answer-id-52321' class='answer   answerof-12638 ' value='52321'   \/><label for='answer-id-52321' id='answer-label-52321' class=' answer'><span>A discount<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12638[]' id='answer-id-52322' class='answer   answerof-12638 ' value='52322'   \/><label for='answer-id-52322' id='answer-label-52322' class=' answer'><span>cannot be determined without more information<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12638[]' id='answer-id-52323' class='answer   answerof-12638 ' value='52323'   \/><label for='answer-id-52323' id='answer-label-52323' class=' answer'><span>Face value<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-98' style=';'><div id='questionWrap-98'  class='   watupro-question-id-12639'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>98. <\/span>Virgo Airlines will pay a $4 dividend next year on its common stock, which is currently selling at $100 per share. <br \/>\r<br>What is the market's required return on this investment if the dividend is expected to grow at 5% forever?<\/div><input type='hidden' name='question_id[]' id='qID_98' value='12639' \/><input type='hidden' id='answerType12639' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12639[]' id='answer-id-52324' class='answer   answerof-12639 ' value='52324'   \/><label for='answer-id-52324' id='answer-label-52324' class=' answer'><span>4 Percent<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12639[]' id='answer-id-52325' class='answer   answerof-12639 ' value='52325'   \/><label for='answer-id-52325' id='answer-label-52325' class=' answer'><span>5 Percent<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12639[]' id='answer-id-52326' class='answer   answerof-12639 ' value='52326'   \/><label for='answer-id-52326' id='answer-label-52326' class=' answer'><span>7 Percent<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12639[]' id='answer-id-52327' class='answer   answerof-12639 ' value='52327'   \/><label for='answer-id-52327' id='answer-label-52327' class=' answer'><span>9 Percent<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-99' style=';'><div id='questionWrap-99'  class='   watupro-question-id-12640'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>99. <\/span>Interest rates and bond prices:<\/div><input type='hidden' name='question_id[]' id='qID_99' value='12640' \/><input type='hidden' id='answerType12640' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12640[]' id='answer-id-52328' class='answer   answerof-12640 ' value='52328'   \/><label for='answer-id-52328' id='answer-label-52328' class=' answer'><span>Move in the same direction<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12640[]' id='answer-id-52329' class='answer   answerof-12640 ' value='52329'   \/><label for='answer-id-52329' id='answer-label-52329' class=' answer'><span>Move in opposite directions<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12640[]' id='answer-id-52330' class='answer   answerof-12640 ' value='52330'   \/><label for='answer-id-52330' id='answer-label-52330' class=' answer'><span>Sometimes move in the same direction, sometimes in opposite directions<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12640[]' id='answer-id-52331' class='answer   answerof-12640 ' value='52331'   \/><label for='answer-id-52331' id='answer-label-52331' class=' answer'><span>Have no relationship with each other (i.e., they are independent)<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-100' style=';'><div id='questionWrap-100'  class='   watupro-question-id-12641'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>100. <\/span>The expected rate of return on a bond if bought at its current market price and held to maturity.<\/div><input type='hidden' name='question_id[]' id='qID_100' value='12641' \/><input type='hidden' id='answerType12641' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12641[]' id='answer-id-52332' class='answer   answerof-12641 ' value='52332'   \/><label for='answer-id-52332' id='answer-label-52332' class=' answer'><span>Yield to maturity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12641[]' id='answer-id-52333' class='answer   answerof-12641 ' value='52333'   \/><label for='answer-id-52333' id='answer-label-52333' class=' answer'><span>Current yield<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12641[]' id='answer-id-52334' class='answer   answerof-12641 ' value='52334'   \/><label for='answer-id-52334' id='answer-label-52334' class=' answer'><span>Coupon Yield<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12641[]' id='answer-id-52335' class='answer   answerof-12641 ' value='52335'   \/><label for='answer-id-52335' id='answer-label-52335' class=' answer'><span>Capital gains yield<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div style='display:none' id='question-101'>\n\t<div class='question-content'>\n\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading...\" title=\"Loading...\" \/>&nbsp;Loading...\t<\/div>\n<\/div>\n\n<br \/>\n\t\n\t\t\t<div class=\"watupro_buttons flex \" id=\"watuPROButtons559\" >\n\t\t  <div id=\"prev-question\" style=\"display:none;\"><input type=\"button\" value=\"&lt; Previous\" 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CTFA certification demonstrates your expertise in the wealth and trust field. New Certified Trust and Financial Advisor (CTFA) CTFA Dumps 2018 offer 856 exam questions and answers. 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