1. How is net worth calculated. Give the formula. (LO1) 2. How are cash value life insurance policies valued on the balance sheet? What about term insurance? Which is better for most investors? Why? (LO 3) 3. How are retirement plans such as 401(k), IRA, or 403(b) valued for the personal balance sheet? Hint: What dollar value do we use? Or how is the dollar value determined? (LO 3) 4. What is the best method for compensating your financial planner? (LO4) 5. What is a defined benefit retirement plan and is it generally considered superior to a 401(k), IRA, 403(b) etc.? (LO3) 6. What advice should one seek before purchasing cash value life insurance, and from whom? Hint: The answer is not an insurance sales person or agent. (LO 3) 7. What are the major parts of the personal balance sheet? (LO 1) 8. What time period does a personal balance sheet cover? (LO 1) 9. Define liquid asset. (LO 1) 10. Distinguish between recurring and unexpected expenses. (LO 2)
1. How is net worth calculated. Give the formula. (LO1) 2. How are cash value life insurance policies valued on the balance sheet? What about term insurance? Which is better for most investors? Why? (LO 3) 3. How are retirement plans such as 401(k), IRA, or 403(b) valued for the personal balance sheet? Hint: What dollar value do we use? Or how is the dollar value determined? (LO 3) 4. What is the best method for compensating your financial planner? (LO4) 5. What is a defined benefit retirement plan and is it generally considered superior to a 401(k), IRA, 403(b) etc.? (LO3) 6. What advice should one seek before purchasing cash value life insurance, and from whom? Hint: The answer is not an insurance sales person or agent. (LO 3) 7. What are the major parts of the personal balance sheet? (LO 1) 8. What time period does a personal balance sheet cover? (LO 1) 9. Define liquid asset. (LO 1) 10. Distinguish between recurring and unexpected expenses. (LO 2)
Chapter17: Retirement And Estate Planning
Section: Chapter Questions
Problem 1LTAI
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Transcribed Image Text:1. How is net worth calculated. Give the
formula. (LO1)
2. How are cash value life insurance policies
valued on the balance sheet? What about
term insurance? Which is better for most
investors? Why? (LO 3)
3. How are retirement plans such as 401(k), IRA,
or 403(b) valued for the personal balance
sheet? Hint: What dollar value do we use? Or
how is the dollar value determined? (LO 3)
4. What is the best method for compensating
your financial planner? (LO4)
5. What is a defined benefit retirement plan and
is it generally considered superior to a 401(k),
IRA, 403(b) etc.? (LO3)
6. What advice should one seek before
purchasing cash value life insurance, and from
whom? Hint: The answer is not an insurance
sales person or agent. (LO 3)
7. What are the major parts of the personal
balance sheet? (LO 1)
8. What time period does a personal balance
sheet cover? (LO 1)
9. Define liquid asset. (LO 1)
10. Distinguish between recurring and
unexpected expenses. (LO 2)
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