Course Quiz - Financial Fitness Center

1.

Which of the following is true regarding alimony negotiations?

It is often wise to seek the services of a financial planner in making financial projections and calculations.

Alimony recipients should keep in mind that they will likely become ineligible to collect state unemployment benefits.

Alimony is determined primarily by reference to factors provided by state law, so the parties have little flexibility in their negotiations.

It is often wise to seek the services of a financial planner in making financial projections and calculations. Very often, attorneys lack the necessary financial expertise.

2.

Child support ________.

Is not taxable to the person who receives it and not tax deductible to the person who pays it

Is paid to the custodial parent, who has full discretion under the law as to how it is spent

Cannot lawfully be spent in any manner that benefits the custodial parent

All the above

Is not taxable to the person who receives it and not tax deductible to the person who pays it. The other two choices are not accurate.

3.

Marital property includes assets you brought into the marriage.

True

False

False. This is separate property.

4.

Which of the following is a factor in setting alimony?

The amount of marital property that was awarded to each spouse by the court

The relative degree of fault of each spouse in causing the divorce

Both of the above are factors

None of the above are factors

The amount of marital property that was awarded to each spouse by the court. Fault is generally not a factor.

5.

Which of the following is true regarding alimony negotiations?

Online and printed self-help materials are excellent resources for those who wish to handle it themselves.

Judges generally set alimony after referring to state guidelines and allow little or no departure through the parties' negotiations

Alimony is tax-free to the recipient

None of the above are true

None of the above are true. The opposite of each statement is true.

Test your knowledge

Choose wisely. There is only one correct answer to each question.