Cwmc Module 30: Weddings Competency Test
This quiz is part of LFE Institute's CWMC (Certified Workplace Money Coaching) course. It will test your proficiency in the Weddings Module (Module 30) of the program. The questions are all multiple choice, and are designed to be a review of this Module. Let LFE know when you've successfully completed this test and are ready to take the Master Level (Level 4) Test.
Correct answers required for passing grade: 9/10
- 1.
Regardless of the age of the bride and groom, it is ____________ debt.
- A.
Dependent on location if you will accumulate too much
- B.
Possible to avoid going into
- C.
A part of life to expect
- D.
Impossible to evade unforeseen expenses and not incur
- E.
None of the above
Correct Answer
B. Possible to avoid going intoExplanation
The correct answer suggests that regardless of the age of the bride and groom, it is possible to avoid going into debt. This means that with proper financial planning and management, it is possible for the couple to have a wedding without incurring any debt.Rate this question:
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- 2.
Money-saving strategies for wedding receptions include: (check all that apply)
- A.
Planning the event close to holidays to spend less on flowers and decor
- B.
Avoiding serving pasta dishes since they're known to hike up menu costs
- C.
Creating handmade beautiful and affordable centerpieces instead of buying from a florist
- D.
Serving alcohol instead of other beverages since alcohol carries a lower overhead cost
- E.
Refusing help from family and friends since it is ill-mannered and rude to accept it
Correct Answer(s)
A. Planning the event close to holidays to spend less on flowers and decor
C. Creating handmade beautiful and affordable centerpieces instead of buying from a floristExplanation
Planning the event close to holidays can help save money on flowers and decor because during holiday seasons, many venues and florists offer discounted rates or special promotions. Creating handmade centerpieces instead of buying from a florist is also a cost-saving strategy as it eliminates the need to pay for professional floral arrangements. By using affordable materials and putting in some creativity, beautiful centerpieces can be made at a fraction of the cost.Rate this question:
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- 3.
Which of the following tips would be effective ways to reduce the cost of an engagement ring purchase? (check all that apply)
- A.
Title loans are ideal for financing wedding bands
- B.
There are excellent stone choices other than white diamonds
- C.
Engagement rings are accepted, standard exceptions to wedding spending plans
- D.
Negotiate the actual price of the ring
- E.
Pack lightly
Correct Answer(s)
B. There are excellent stone choices other than white diamonds
D. Negotiate the actual price of the ringExplanation
The explanation for the given correct answer is that by considering stone choices other than white diamonds, one can explore more affordable options without compromising on the quality or beauty of the ring. Additionally, negotiating the actual price of the ring can help in getting a better deal and reducing the cost of the engagement ring purchase.Rate this question:
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- 4.
CWMC Module 30 on Weddings specifically examines how the ________ the wedding can impact costs.
- A.
In-laws at
- B.
Dancing at
- C.
Timing of
- D.
Religious tendency of
- E.
Colors of
Correct Answer
C. Timing ofExplanation
The correct answer is "timing of". In Module 30 on Weddings, the module specifically focuses on how the timing of the wedding can impact costs. This suggests that the date and time chosen for the wedding can have financial implications, such as peak season pricing or availability of vendors.Rate this question:
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- 5.
Which of the following are GOOD reasons for a couple to sign a prenuptial agreement? (check all that apply)
- A.
To maintain business ownership legalities
- B.
To shield assets of children from a previous marriage
- C.
To ensure future divorce proceedings will be trouble-free
- D.
To protect valuable possessions, sizable assets or wealth prior to an upcoming marriage
- E.
Because one partner pressured the other into it
Correct Answer(s)
A. To maintain business ownership legalities
B. To shield assets of children from a previous marriage
D. To protect valuable possessions, sizable assets or wealth prior to an upcoming marriageExplanation
A prenuptial agreement can be a good idea for a couple to sign in order to maintain business ownership legalities, as it can help protect the business in case of divorce. It can also be beneficial to sign a prenuptial agreement to shield assets of children from a previous marriage, ensuring that those assets are protected and preserved for the children's benefit. Additionally, signing a prenuptial agreement can be a way to protect valuable possessions, sizable assets, or wealth that one or both partners may have acquired before the marriage, providing financial security and clarity in the event of a divorce.Rate this question:
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- 6.
Which of the following statements regarding wedding planners is FALSE?
- A.
Charging by the hour is unethical and illegal
- B.
Hiring a planner can save time, aggravation, and possibly money
- C.
Fees can sometimes be commission based (percentage) of total wedding costs
- D.
Some wedding coordinators have flat fees for services rendered
- E.
Self-employed planners do not require formal training
Correct Answer
A. Charging by the hour is unethical and illegalExplanation
The statement "Charging by the hour is unethical and illegal" is false because wedding planners can choose to charge by the hour if they wish to do so. While it may not be the most common method of charging, it is not inherently unethical or illegal. Wedding planners have the flexibility to determine their own pricing structure based on their business model and the services they provide.Rate this question:
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- 7.
Which of the following honeymoon experiences is likely to happen in real life? (check all that apply)
- A.
"Our 'no-obligation' honeymoon consisted of lengthy timeshare sales pitches."
- B.
"The phone caller said, ‘For a FREE vacation, all you need to do is pay the taxes.'"
- C.
"We felt pressured when the vacation sales rep urged us to 'act now before it's too late.'"
- D.
"We entered one honeymoon sweepstakes; now we receive lots of unwanted calls and e-mails from businesses."
Correct Answer(s)
A. "Our 'no-obligation' honeymoon consisted of lengthy timeshare sales pitches."
B. "The phone caller said, ‘For a FREE vacation, all you need to do is pay the taxes.'"
C. "We felt pressured when the vacation sales rep urged us to 'act now before it's too late.'"
D. "We entered one honeymoon sweepstakes; now we receive lots of unwanted calls and e-mails from businesses."Explanation
The correct answer is all of the above options. These experiences are likely to happen in real life as they involve common scenarios such as being subjected to timeshare sales pitches during a honeymoon, receiving offers for a "free" vacation that require payment of taxes, feeling pressured by vacation sales representatives, and receiving unwanted calls and emails after entering sweepstakes. These situations are often encountered by individuals planning or going on honeymoons, making them realistic possibilities.Rate this question:
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- 8.
Which of the following locations would most likely be discouraged when searching for a less expensive ceremony venue?
- A.
The site of your religious membership (church, synagogue, temple, etc.)
- B.
Ritz-Carlton Hotel, New York City
- C.
The home or garden of parents or a close friend
- D.
A court house civil ceremony
- E.
Outdoor public locales including beaches, parks or lakes
Correct Answer
B. Ritz-Carlton Hotel, New York CityExplanation
The Ritz-Carlton Hotel, New York City, would most likely be discouraged when searching for a less expensive ceremony venue because it is known for its luxury and high prices. The question is asking for a location that would not be cost-effective, and the Ritz-Carlton is known for being expensive and catering to a high-end clientele. Therefore, it is unlikely to be a budget-friendly option for a ceremony venue.Rate this question:
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- 9.
Which of the following are necessary to obtain a marriage license in most states? (check all that apply)
- A.
Proof of age and name with 2 forms of identification
- B.
Social security card
- C.
If previously married, proof of divorce, death or annulment
- D.
Cashier’s check for payment
- E.
A waiting period prior to ceremony
Correct Answer(s)
A. Proof of age and name with 2 forms of identification
C. If previously married, proof of divorce, death or annulment
E. A waiting period prior to ceremonyExplanation
To obtain a marriage license in most states, proof of age and name with two forms of identification is necessary to verify the identity and legal eligibility of the individuals. If either party has been previously married, proof of divorce, death, or annulment is required to ensure that there are no existing legal impediments to the marriage. Additionally, some states require a waiting period prior to the ceremony to allow for any objections or legal requirements to be addressed before the marriage can take place. The other options, such as a social security card or cashier's check for payment, are not typically required for obtaining a marriage license.Rate this question:
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- 10.
Gifts for the wedding party:
- A.
Need to be expensive
- B.
Are great ways to say "thank you"
- C.
Are usually given months or years later
- D.
Are contingent on how well each member performed his/her duties
- E.
Are required
Correct Answer
B. Are great ways to say "thank you"Explanation
Gifts for the wedding party are great ways to say "thank you" because they are a gesture of gratitude towards the individuals who have participated in the wedding. These gifts serve as a token of appreciation for their time, effort, and support in making the wedding day special. It is not necessary for these gifts to be expensive, given months or years later, contingent on performance, or required, but they are a meaningful way to express gratitude to the wedding party members.Rate this question:
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Jun 20, 2024Quiz Edited by
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Sep 08, 2009Quiz Created by
Alice Whinnery
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