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Which best describes this individual’s net worth: Total Assets $1,000,000 Total Liabilities $875,000 With: 1. Assets centered in a primary residence with a high-loan-to value ratio, i.e., highly leveraged with debt  2. Limited cash/cash equivalents   

Which of the following tend to be budget busters for most people: No children [a1] Discretionary spending [a2] Dining out frequently [a3] Impulse purchases [a4] Too much home or car [a5] Kids attending public schools [a6] Hobbies [a7] Daily Starbucks coffee [a8] Spending on needs [a9] Private Schools [a10]

Using the following borrower information, what is the borrowers mortgage debt service payment ratio? Monthly Gross Income $7,500 Monthly Mortgage Payment $2,100  

Analyze/evaluate the following FSR’s to answer questions 1-3 : Net Cash Flow                                           Negative ($500/month)Mortgage Debt Service Ratio                   40% of Gross IncomeTotal Debt Service Payment Ratio           55% of Gross IncomeSavings Ratio                                             1% of Gross IncomeCash Emergency Fund                              1 month of living expenses & debt payments 1. Are there any ratios that need addressing/correcting? 2.  How is this borrower managing their finances? 3.. Which 2 financial standing ratios are the most important to correct and why?

Using the following borrower information, what is the borrowers cash emergency fund liquidity ratio? Cash $30,000 Monthly Living Expenses $ 4,000 Monthly Debt Payments  $ 1,000  

Lenders are required by law to disclose the reason(s) for declining a loan

Which of the following is a psychological budgeting tip to help live within a zero-based budget

The most important piece of financial information to protect is your driver’s license

Which of the following is not a characteristic of a monetary free spirit 

Fixed annuities are the least likely tool for mitigating inflation risk during the distribution phase of retirement but are implemented to avoid superannuation.