Dani Roy Wants to Travel After She Retires as Well

question 90

Multiple Choice

Dani Roy wants to travel after she retires as well as pay off the balance of the loan she has on the home that she owns.Which step in the financial planning process does this situation demonstrate?

• A)Determining her current financial situation
• B)Developing her financial goals
• C)Identifying alternative courses of action
• D)Evaluating her alternatives
• E)Implementing her financial plan

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Definitions:

Reaffirmation Agreement

An agreement in which a debtor agrees to pay a debt even though it could have been discharged in bankruptcy.

Discharged

Released from liability; term applied to negotiable instrument liability that has terminated.

Cancel

The act of nullifying or terminating an agreement, subscription, or service.

Explicit Information

Information that is fully and clearly expressed, leaving nothing implied, often detailed and specific.