Personal Finance Study Set 1
Quiz 2: Measuring Your Financial Health and Making a Plan
A Debt Ratio Is Aimed at Determining If You Have
A debt ratio is aimed at determining if you have adequate liquidity to meet emergencies.
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An emergency fund,or rainy-day fund,is comprised of liquid assets sufficient to cover 3.5 years of expenditures.
According to the Keown book,an emergency fund consists of liquid assets that are sufficient to cover ________ of expenditures. A) 1 to 2 months B) 3 to 6 months C) 9 to 12 months D) 18 to 36 months
The purpose of using financial ratios is to A) save space on your financial statements. B) share your financial figures with your advisors. C) help analyze your raw data to compare how well you are doing. D) better understand how you are managing your financial resources. E) both C and D.
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