8/29/2019 Unit test-1(Basics of Retirement Planning)

Home / My courses / RTP / Retirement Planning & Employees Benefits / Unit test-1(Basics of Retirement Planning)

Started on Thursday, 29 August 2019, 9:37 PM

State Finished
Completed on Thursday, 29 August 2019, 9:37 PM
Time taken 11 secs
Marks 0.00/34.00
Grade 0.00 out of 10.00 (0%)

Question 1 Young people often raise the _______ bar with equities
Not answered

Marked out of Select one:

1.00
a. Risk

b. Safety

c. Stability

d. Utility

The correct answer is: Risk

Question 2 Adequate retirement planning is required for all the factors except:1
Not answered

Marked out of Select one:

1.00
a. Presence of joint family system

b. Higher medical expenses

c. Inflation

d. Higher standard of living

The correct answer is: Presence of joint family system

Question 3 Retirement planning covers the areas of ________

Not answered

Marked out of Select one:

1.00
a. All of the above

b. Health and other factors

c. Financial objectives

d. Non economic objectives

The correct answer is: All of the above

https://learn.proschoolonline.com/mod/quiz/review.php?attempt=150673&cmid=1739 1/9
8/29/2019 Unit test-1(Basics of Retirement Planning)

Question 4 Retirement planning is:

Not answered

Marked out of Select one:

1.00
a. Steps to be taken at certain time intervals

b. A one time process

c. A yearly process

d. A continuous process

The correct answer is: A continuous process

Question 5 Retirement planning is a uniform step of activities for everyone.

Not answered

Marked out of Select one:

1.00
a. False as different people have different needs

b. False as the retirement planning manual does not say such a thing

c. True as this is required for everyone

d. True as all humans have similar features

The correct answer is: False as different people have different needs

Question 6 Lifestyle has an impact on the needs of a person.

Not answered

Marked out of Select one:

1.00
a. Impossible

b. FALSE

c. All of the above

d. TRUE

The correct answer is: TRUE

Question 7 Which of the following is not a step in the process of determining

Not answered financial objectives?
Marked out of
1.00 Select one:
a. Knowing the goals

b. Cancel out the multiple goals

c. Determine the activity required to achieve the goals

d. Calculate the amount required to meet the goals

The correct answer is: Cancel out the multiple goals

https://learn.proschoolonline.com/mod/quiz/review.php?attempt=150673&cmid=1739 2/9
8/29/2019 Unit test-1(Basics of Retirement Planning)

Question 8 Which of the following best describes the definition of goals in

Not answered Retirement Planning?
Marked out of
1.00 Select one:
a. They must be long term in nature

b. They must be definable, measurable, achievable and realistic

c. They must have financial significance

d. They must not conflict with each other

The correct answer is: They must be definable, measurable, achievable

and realistic

Question 9 All the following statements concerning College Funding are correct
Not answered EXCEPT:
Marked out of
1.00 Select one:
a. College tuition fees are increasing faster than inflation

b. An investment fund for meeting college education needs of

children is often a relatively long term objective.

c. Clients often delay college funding, because they have no idea of

the future cost

d. Planning to meet college education of children has become a

necessity of the parents

The correct answer is: An investment fund for meeting college education
needs of children is often a relatively long term objective.

Question 10 Which among the following Retirement Planning objectives should get
Not answered the highest priority?
Marked out of
1.00 Select one:
a. Maintaining pre-retirement standard of living

b. Passing on wealth to next generation

c. Improving lifestyles in retirement

d. Retiring early

The correct answer is: Maintaining pre-retirement standard of living

Question 11 Which of the following roadblocks to Retirement Savings is perhaps the

Not answered biggest?
Marked out of
1.00 Select one:
a. The tendency to spend all income

b. Unexpected expenses

c. Other accumulation needs

d. Frequent employment changes

The correct answer is: Unexpected expenses

https://learn.proschoolonline.com/mod/quiz/review.php?attempt=150673&cmid=1739 3/9
8/29/2019 Unit test-1(Basics of Retirement Planning)

Question 12 Part 1: ddddddd

Not answered

Marked out of Select one:

1.00
a. aaa

b. lllllllllllllllllllllll

c. nnnnnnnnnnn

d. bbbbbbbbbb

The correct answer is: bbbbbbbbbb

Question 13 The primary concern at the time of retirement is to ___________

Not answered

Marked out of Select one:

1.00
a. Generate only dividends

b. Generate regular income

c. Generate high returns using equity

d. Generate only capital gains

The correct answer is: Generate regular income

Question 14 Mr. Allwyn D'silva, a qualified Engineer (IT) aged 28 years works in a BPO
Not answered and earns Rs. 47,000 per month. He splurges his funds on his personal
Marked out of leisure, friends and other sorts of hedonism. He debates that he is young,
1.00 single , no dependants (Parents are well off), Investment Planning is now
not on the cards and Retirement Planning is a far-fetched dream. As a
Financial Planner address him and provide an appropriate advise
factoring in the above information:

Select one:
a. The mantra should be Earn and Spend since you are very young,
(Enjoy Life)

b. The mantra should be Earn, Spend and Save since you are very
young, (Enjoy Life)

c. Leave him on his own, one fine day he will come to terms of reality
and at that time I will give my advise

d. The mantra should be Earn, Save and Spend at whatever stage of

your life you are (Pay Yourself First)

The correct answer is: The mantra should be Earn, Spend and Save since
you are very young, (Enjoy Life)

Question 15 Retirement planning is ________.

Not answered

Marked out of Select one:

1.00
a. For old people only

b. For middle aged people only

c. For all the above types of people

d. For the youth only

The correct answer is: For all the above types of people

https://learn.proschoolonline.com/mod/quiz/review.php?attempt=150673&cmid=1739 4/9
8/29/2019 Unit test-1(Basics of Retirement Planning)

Question 16 Which one of the following is often a major constraint to the planning
Not answered process?
Marked out of
1.00 Select one:
a. Presence of family members

b. Lack of proper records due to large number of cash transactions

c. Large family

d. Ability to manage family

The correct answer is: Lack of proper records due to large number of
cash transactions

Question 17 Retirement planning is complete in all respects _____.

Not answered

Marked out of Select one:

1.00
a. When the financial goals are achieved by middle age

b. When even non financial goals are also considered

c. When the necessary investment is made

d. When the financial goals are achieved

The correct answer is: When even non financial goals are also considered

Question 18 As a retirement planning tool a tax saving investment will be _____.

Not answered

Marked out of Select one:

1.00
a. None of the above

b. Ignored

c. Preferred

d. Avoided

The correct answer is: Preferred

Question 19 Which of the following expenses can be curtailed?

Not answered

Marked out of Select one:

1.00
a. Fixed expenses

b. None of the above

c. Rent

d. Discretionary expenses

The correct answer is: Discretionary expenses

https://learn.proschoolonline.com/mod/quiz/review.php?attempt=150673&cmid=1739 5/9
8/29/2019 Unit test-1(Basics of Retirement Planning)

Question 20 Various expenses present in a budget can arise on ____________

Not answered

Marked out of Select one:

1.00
a. Annual basis

b. All of the above

c. Daily basis

d. Monthly basis

The correct answer is: All of the above

Question 21 Retirement needs for a young individual is a _______.

Not answered

Marked out of Select one:

1.00
a. Medium term goal

b. Long term goal

c. None of the above

d. Short term goal

The correct answer is: Long term goal

Question 22 To meet a financial crisis you need to set up a ___________.

Not answered

Marked out of Select one:

1.00
a. Investment fund

b. Welfare fund

c. Reserve fund

d. Emergency fund

The correct answer is: Emergency fund

Question 23 Non-payment on the due date of the following item will prove the
Not answered highest financial burden.
Marked out of
1.00 Select one:
a. Systematic transfer plan

b. Credit card payment

c. Systematic investment plan

d. All of the above

The correct answer is: Credit card payment

https://learn.proschoolonline.com/mod/quiz/review.php?attempt=150673&cmid=1739 6/9
8/29/2019 Unit test-1(Basics of Retirement Planning)

Question 24 Retirement Planning has become inevitable due to _______ 1. Longer life
Not answered span 2. Inflation 3. Abolition of Joint family system 4. Rising Medical
Marked out of expenses 5. Increased standard of living 6. Non economic objectives 7.
1.00 Early retirement

Select one:
a. All of the above except 2

b. All of the above except 4

c. All of the above

d. All of the above except 6

The correct answer is: All of the above

Question 25 Rent, insurance premiums and professional society fees are examples of
Not answered __________.
Marked out of
1.00 Select one:
a. None of the above

b. Flexible expenses

c. Discretionary expenses

d. Fixed expenses

The correct answer is: Fixed expenses

Question 26 Once an overall retirement plan has been prepared one has to ensure
Not answered that:
Marked out of
1.00 Select one:
a. Everything is missed

b. Nothing is missed

c. Something is missed

d. There is an attempt at missing things

The correct answer is: Nothing is missed

Question 27 Preparing a complete retirement plan requires

Not answered

Marked out of Select one:

1.00
a. All the information about the retirement planning needs and
requirement

b. Information about making plans

c. All the details on how to complete things

d. Information about the definition of retirement

The correct answer is: All the information about the retirement planning
needs and requirement

https://learn.proschoolonline.com/mod/quiz/review.php?attempt=150673&cmid=1739 7/9
8/29/2019 Unit test-1(Basics of Retirement Planning)

Question 28 Being realistic in the approach of setting financial goals means _____
Not answered

Marked out of Select one:

1.00
a. Look at resources and then set the goals

b. Expect goals to be achieved overnight

c. Set very high targets to be achieved

d. Consider every variable as manageable

The correct answer is: Look at resources and then set the goals

Question 29 Vrushali aged 20 years debates that Retirement Planning is required for
Not answered Males as well as for those who are above 45 years, she says that she is
Marked out of young, she wants to enjoy life and after marriage her spouse will take
1.00 care of her retirement.As a Financial Planner address her and provide an
appropriate advice

Select one:
a. No comments, since a Certified Financial Planner never debates

b. Her views are untenable, since Retirement Planning has to be

undertaken as early as possible

c. Her views are tenable

The correct answer is: Her views are untenable, since Retirement Planning
has to be undertaken as early as possible

Question 30 A good Retirement Plan should meet the following: 1. Series of regular
Not answered payments during the Golden years 2. Liquidity to meet urgent lump sum
Marked out of financial needs during sunset years 3. Growth of the Retirement Corpus
1.00 should be more than the Inflation rate

Select one or more:

a. Only 3 is true

b. Only 1 is true

c. None of the above are true

d. Only 1 & 3 are true

Question 31 Retirement Counseling means:

Not answered

Marked out of Select one:

1.00
a. To know the clients expectations in advance and then assess on a
regular basis whether such expectations have been achieved or not

b. It is helping the client to achieve his / her goals

c. It is clear & effective communication with the client

d. All of the above

The correct answer is: All of the above

https://learn.proschoolonline.com/mod/quiz/review.php?attempt=150673&cmid=1739 8/9
8/29/2019 Unit test-1(Basics of Retirement Planning)

Question 32 As a Financial Planner, an action plan should be developed &

Not answered implemented to achieve the Client Retirement Goals, on the basis of
Marked out of ____________.
1.00

Select one:
a. Both Client Conditions & Market Conditions

b. Market Conditions

c. Clients Conditions

d. Market Conditions only when they are favourable otherwise

Clients Conditions

The correct answer is: Clients Conditions

Question 33 Financial objectives clarity leads to setting of _______

Not answered

Marked out of Select one:

1.00
a. Achievements

b. Investment targets

c. None of the above

d. Goals

The correct answer is: Goals

Question 34 There has to be a ____ to reach the goals. 1

Not answered

Marked out of Select one:

1.00
a. Time limit

b. Complex plan

c. Time frame

d. Time out

The correct answer is: Time frame

◄ Additional Reading (PDF) Jump to... Unit Test - 2(Wealth Accumulation) ►

https://learn.proschoolonline.com/mod/quiz/review.php?attempt=150673&cmid=1739 9/9