Aformalized report that summarizes your current financial situation, analyzes your financial needs, and recommends a direction for your financial activities is a(n) a. insurance prospectus. b. financial plan. c. budget. d. investment forecast.

A formalized report that summarizes your current financial situation, analyzes your financial needs, and recommends a direction for your financial activities is a B. financial plan. 
A financial plan is there to help you with your finances, it presents your with your financial report, as well as suggestions as to how and where you should spend or save your money. An insurance prospectus recommends the best insurance, a budget is just money that you have, and investment forecast suggests best investments.

Ya mom and dad hahahahaa