1. It is more important to know where all of you money is being spent than it is to have an organized files.

True
False

2. Credit card debt should not be counted when calculating your net worth.

True
False

3. The maximum annual contribution limit for a SEP IRA is $2000.

True
False

4. A person in their 20's doesn't need to start saving for their retirement because it is such a long way off.

True
False

5. Financial goals are easier to achieve if they are specific and actionable.

True
False

6. If your expenses are more than your income, then you have a negative cash flow.

True
False

7. You should determine your risk profile after you've invested your money.

True
False

8. One of the benefits of owning a mutual fund is the professional money management that handles day-to-day decisions.

True
False

9. A Corporate bond is an example of a medium-risk investment with income potential.

True
False

10. Stocks may be a good investment for you if you need your money in a short amount of time and your tolerance for risk is not very high.

True
False