Flashcards › PF 2.01 FLASHCARDS

Which is a variation of the typical family life cycle? A couple have decided not to have children Which is a variation of the typical family life cycle? A mother's two children are in middle school; the stepfather's two children are grown Which is an example of a typical expense for an adult in a launching family? College tuition Which is an example of a typical income for an adult in a mid-years family? Large salary for a management position Which is an example of a typical income for a teen in a parenting family? Minimum wage job Which is an example of a typical need of an expanding family? Purchasing supplies for a nursery for the new baby Which is an example of a typical need of a beginning family? Completing education needed to match career goals Which is a typical activity of an adult in a parenting family? Roxie set up a chores chart with daily tasks for each child in the family Which is a typical activity of midlife adults in a launching family? While their children are in college, Deb and Dean are revising their retirement plans Which is a typical activity of working parents in a developing family? Carol and Chuck are putting money into a college fund for their children Which is a typical activity of older adults in an aging family? Because Alice and Ashley began to have more health problems after retirement, they increased their insurance coverage Which is an example of an adult in a mid-year family? Terry, age 23, lives with her 60-year-old husband, both plan to retire in five years Which is an example of a midlife adult in a launching family? Steve age 45, married, two children in college Pat has decided to attend the local community college before transferring to the nearest state university to earn a degree in computer technology. Which stage of the financial life cycle does this illustrate? Before financial life cycle begins Mark Johnson began work as a bank manager with a good salary after graduation last year. His wife is a full-time university student working on a master's degree. Which stage of the financial life cycle does this illustrate? Basic wealth protection Jenny Jones has reached the top of her career field and earns a six-figure salary. She has invested 20% of her income for the past fifteen years in order to build assets to pay college expenses for her two teen children. Which stage of the financial life cycle does this illustrate? Wealth accumulation Doris and Bill Alston met with their lawyer to review their last will to be sure their children would be well-provided-for. Which stage of the financial life cycle does this illustrate? Wealth distribution After her divorce, Marissa earned her master's degree and was hired as an executive in a downtown business firm. Which lifestyle conditions does this illustrate? Marital status, education level, and employment status Single mom Majorie works full-time to take care of her two children and her aging grandmother. Which lifestyle conditions does this illustrate? Dependents, marital status, and employment status PF 2.01 FLASHCARDS