The Primary Purpose of _____________ Is to Gather Background Information

question 6

Multiple Choice

The primary purpose of _____________ is to gather background information about the client relevant to the reason for assessment.

• A)tests
• B)observations
• C)interviews
• D)collateral sources

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Definitions:

Accurate To The Cent

Describes a level of precision in financial calculations or measurements that are exact to the smallest denomination of currency, such as a cent in the U.S. dollar.

Periodic Interest Rate

The rate of interest charged on a loan or earned by an investment for a duration that is less than one year.

Annuity

An economic scheme that delivers a constant payment stream to a recipient, predominantly utilized in preparing for retirement.

Payment Interval

The frequency with which a recurring payment is made, such as monthly or annually.