Study sets
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Financial Planning Skills Test, Grade 3 | Life Planning and Funding Questions

1 / 100.0s

Problem 1 ・ Question 1 / 10

What should a financial planner do first when advising a client?

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Without grasping the client's present situation and wishes, no suitable plan can be drawn up.

Problem 1 ・ Question 2 / 10

Which table shows an individual's annual income and expenditure and the balance of their savings into the future?

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A cash flow table projects income, expenditure and financial asset balances year by year into the future.

Problem 1 ・ Question 3 / 10

Which document shows a household's net worth from its assets and liabilities at a given point?

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A personal balance sheet gives net worth by subtracting total liabilities from total assets.

Problem 1 ・ Question 4 / 10

Which factor gives the future value of present funds invested at a fixed rate?

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The future value factor gives what present principal will amount to under compound growth.

Problem 1 ・ Question 5 / 10

Which factor gives the principal to set aside now in order to reach a required future sum?

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The present value factor discounts a future amount back to present value at a fixed rate.

Problem 1 ・ Question 6 / 10

Which factor gives the future total from saving a fixed amount each year?

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The future value of an annuity factor gives the accumulated total from the amount saved each year.

Problem 1 ・ Question 7 / 10

Which pension forms the base of Japan's public pension system, with participation by the whole population as a rule?

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The National Pension is the base layer of the public pension system, and members of Employees' Pension Insurance are insured under it too.

Problem 1 ・ Question 8 / 10

What does health insurance mainly cover?

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Health insurance covers employees and their families for illness and injury unrelated to work.

Problem 1 ・ Question 9 / 10

What matters most in a repayment plan for a housing loan?

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Check whether repayment is sustainable over the long term, alongside other outgoings such as education and retirement.

Problem 1 ・ Question 10 / 10

What should be checked when comparing scholarships and education loans?

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Compare the conditions that affect the total repaid and the future burden.