What is Bob Larkin's net worth based on his provided financial data?

Prepare for the Accredited Asset Management Specialist Exam with our quiz. Utilize flashcards and multiple choice questions, complete with hints and explanations. Set yourself up for success!

To determine Bob Larkin's net worth, one must consider the relationship between total assets and total liabilities. Net worth is essentially calculated by subtracting total liabilities from total assets.

If Bob Larkin's financial data suggests that he has total assets amounting to $1,000,000 and total liabilities of $636,000, the calculation for net worth would be as follows:

Net Worth = Total Assets - Total Liabilities

Net Worth = $1,000,000 - $636,000 = $364,000

This calculation yields $364,000, which aligns with the selected response. This value indicates that Bob maintains a strong financial standing, as it shows the positive difference between what he owns and what he owes.

Other amounts provided in the choices do not fit the calculation derived from the financial data, reinforcing that $364,000 is indeed the correct assessment of Bob Larkin's net worth based on the financial snapshot provided.

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