Financial Services _Çô Client Services RFC121 Study Guide - Comprehensive Final Exam Guide - Mortgage Loan, Life Insurance, Canada
20 Nov 2018
School
Department
Professor
Document Summary
Analyze the process for making personal financial decisions. Assess economic factors that influence personal financial planning. Determine personal and financial opportunity costs associated with personal financial decisions. Identify strategies for achieving personal financial goals for different life situations. Interest rate risk: changing interest rates affect your costs when you borrow and your benefits when you invest. Inflation risk: rising prices cause lost buying power. Liquidity risk: some investments may be more difficult to convert to cash or sell without significant loss in value, product risk, products or services flawed or not meet your expectations, retailers may not honour their obligations. The financial planning process: step 5: create and implement a financial action plan, choose ways to achieve your goals, may require assistance from others, financial planning information sources; Computer software, world wide web, and on-line information. The financial planning process: step 6: reevaluate and revise your plan, your plan should be reviewed regularly based on your life circumstances.
