Your Decision About One Component of Your Financial Plan Can

question 69

Multiple Choice

Your decision about one component of your financial plan can affect all other components. Which statement is true?

• A) The amount of life insurance you choose to carry has no effect on your future estate value.
• B) There will never be any trade-offs to consider when making decisions about your financial plan.
• C) If you make poor investment decisions, you may have to work longer than planned.
• D) You should contribute all of your extra money to your retirement account even if it means you don't have money available for products and services today.

---

Definitions:

Formally Assigning

The process of officially allocating responsibilities, tasks, or resources to individuals or teams.

Effective Approach

A method or technique that has been proven to lead to the desired outcome or success in achieving specific goals.

Corrective Action

Steps taken to eliminate the causes of an existing nonconformity, defect, or other undesirable situation to prevent recurrence.

Rules and Standards

Defined as established guidelines and criteria used to manage conduct, processes, and procedures within organizations and industries.