1. (TCO 1) The stages that an individual goes through based on age, financial needs, and family situation is called the: 
financial planning process
budgeting procedure
personal economic cycle
adult life cycle
tax planning process
2. (TCO 1) A lack of willingness to accept a variety of employment positions is a common career planning mistake associated with weak: 
common sense. 
communication. 
training. 
flexibility. 
perseverance. 
3.(TCO 1) The abilities to work well with numbers, possess problem-solving skills, and have physical dexterity are examples of: 
interests. 
survival skills. 
aptitudes. 
occupational attitudes. 
on-the-job training
4.(TCO 1) Which of the following situations is a person who could be insolvent? 
Assets $56,000; annual expenses $60,000 
Assets $78,000; net worth $22,000 
Liabilities $45,000; net worth $6,000 
Assets $40,000; liabilities $45,000 
Annual cash inflows $45,000; liabilities $50,000