Management of Human Wealth & Well-being Lecture 1 Quiz
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Questions and Answers

What are the sources of income discussed in the text?

  • Capital gains, inheritance, lottery winnings
  • Pension, rental income, royalties
  • Salary, bonuses, commissions
  • Dividends, interest, employment earnings (correct)

    • Which of the following is considered a liability according to the text?

  • Investments
  • Credit card debt (correct)
  • Cash
  • Real estate

    • What is the purpose of 'Generating Positive Cash Accumulating Wealth' in the GAP Framework?

  • Providing entertainment
  • Achieving personal fitness goals
  • Developing artificial intelligence
  • Creating income streams to exceed financial expenses (correct)

    • Which type of assets are included in an individual's wealth portfolio according to the text?

    <p>Real estate and retirement accounts</p> Signup and view all the answers

    What is the main focus of 'Protecting Wealth' in the GAP Framework?

    <p>Safeguarding accumulated assets through risk management strategies</p> Signup and view all the answers

    Which of the following is NOT typically considered an expense according to the text?

    <p>Income from investments</p> Signup and view all the answers

    In the GAP Framework, what does 'Flow (G)' focus on achieving?

    <p>Building income streams to exceed expenses</p> Signup and view all the answers

    'Assets' in personal finance refer to resources that provide future benefit through:

    <p>Financial growth and security</p> Signup and view all the answers

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