Q. What does the economic life cycle encompass?

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Q. Why is it important to save and invest in various financial assets during one's life cycle?

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Q. What is the significance of financial planning during an individual's life cycle?

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Q. During which life stage is a person typically focused on preparing for their future by improving their knowledge and skills, often requiring funds for education?

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Q. At which life stage does an individual often have family responsibilities, save, and invest to meet both immediate and future needs?

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Q. During the "Partner" life stage, what new needs may arise for an individual who is married?

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Q. In the "Empty Nester" stage, what is the primary focus for individuals whose children have grown up and left home?

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Q. During which life stage do individuals retire from active work and spend their savings to meet their needs?

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Q. Financial planning involves making two types of decisions. What are these decisions?

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Q. Which of the following best describes specific transaction needs in financial planning?

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Q. Contingencies in financial planning refer to:

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Q. The accumulation motive in financial planning relates to:

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Q. What is the primary benefit of earning a higher return on investments in financial planning?

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Q. Which type of financial product is represented by bank deposits and other savings instruments that provide liquidity at the right time and quantum?

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Q. What is the primary purpose of contingency products like insurance in the financial market?

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Q. Which of the following is an example of a wealth accumulation product in the financial market?

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Q. What are the three primary types of financial products corresponding to an individual's needs in the financial market?

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Q. How does an individual's approach to taking risks change as they progress through different stages of the life cycle?

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Q. Which among the following gives specific protection against unforeseen events?

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Q. What are the elements of financial planning?

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