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Which of the following is a step to creating a realistic personal budget?
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51 questions
Q.
1
30 sec
Q.
Which of the following is a step to creating a realistic personal budget?
2
30 sec
Q.
Which of the following would be considered a variable expense?
3
30 sec
Q.
What is the first step a person should take to create a personal budget for the first time?
4
30 sec
Q.
Which of the following items is most likely a non-essential items.
5
30 sec
Q.
Which of the following would be considered to be a variable expense?
6
30 sec
Q.
Jason is getting a new job. Which of the following documents would NOT establish both his identity and eligibility to work.
7
30 sec
Q.
What is the purpose of the W-4?
8
30 sec
Q.
If the gross pay is 350.00 and the net pay is 280.00, how much money can be deposited in the bank? (The highest amount possible).
9
30 sec
Q.
Gross Pay is
10
30 sec
Q.
If the gross pay is 2800, Federal Income Tax is 25%, Social Security and Medicare (FICA) are 7.65% combined, and state tax is 3%, calculate the Net Pat.
11
30 sec
Q.
Which of the following would be considered earned income for an employee?
12
30 sec
Q.
Which of the following best describes dividends?
13
30 sec
Q.
Emily decided to give up purchasing a Starbucks coffee and roll each day and putting the money she saved into an account to help with college expenses. She did this because she knew
14
30 sec
Q.
One way to look at financial planning is as a way to
15
30 sec
Q.
An advantage of making goals attainable is
16
30 sec
Q.
Writing your goals will
17
30 sec
Q.
Which of the following is a critical aspect of financial planning?
18
30 sec
Q.
A contract between a lender and borrower should contain which of the following?
19
30 sec
Q.
Which is true regarding a co-signer for a loan?
20
30 sec
Q.
When applying for a loan, one should always
21
30 sec
Q.
What is the first thing you should do if something you purchase is defective or broken.
22
30 sec
Q.
Because of the Time Value of Money, it is better to receive $101 a year from now than $100 today.
23
30 sec
Q.
Which of the following do you need to determine the future value of money which has been invested for a time?
24
30 sec
Q.
If the earnings on an investment do not exceed the rate of inflation,
25
30 sec
Q.
Which of the following would you consider to be a financial want rather than an financial need.
26
30 sec
Q.
Robert wants to take a vacation this summer with his family. He estimates he will need about $2500 for the trip. Should he save or invest?
27
30 sec
Q.
Janeen wants to buy a house. She would like to have 20% for a down-payment on a $350,000 home. She estimates that it will take about 5 years for her to do that. Should she save or invest.
28
30 sec
Q.
1% (One percent) is the amount of interest typically earned in a
29
30 sec
Q.
Compounding can be described as
30
30 sec
Q.
At what age should you begin investing?
31
30 sec
Q.
Money helps people communicate a product's
32
30 sec
Q.
One of the functions of money is to serve as a
33
30 sec
Q.
When a person chooses to buy one item over another based on a lower price, she/he is using money as a
34
30 sec
Q.
When we trade money for goods and services, we are using money as
35
30 sec
Q.
A store offers a discount on purchases made using the stores credit card. This discount would be
36
30 sec
Q.
Sometimes incentives don't work the way we think they will. For many years, a high school had an annual food drive. Students volunteered to go door to door collecting canned goods. In an effort to try and increase the number of cans collected, the school decided to use an incentive of paying students 10 cents for each can they brought in. They were surprised that the number of cans collected went down. Why would this have happened?
37
30 sec
Q.
Which of the following is a disadvantage to using credit cards instead of cash?
38
30 sec
Q.
Of the following items, which would be the most appropriate to buy with a credit card?
39
30 sec
Q.
Taylor purchased sporting equipment with a card that automatically withdrew funds from her checking account. This is an example of
40
30 sec
Q.
Financial institutions can act as intermediaries who match buyers and sellers. What is the benefit for the buyers and sellers when this happens?
41
30 sec
Q.
Why do you need to understand the role of institutions?
42
30 sec
Q.
Why is opportunity cost associated with every choice you make?
43
30 sec
Q.
Limited resources impact self-discipline in money management because
44
30 sec
Q.
In order to effectively make decisions, a person always needs which of the following?
45
30 sec
Q.
Considering the consequences associated with all possible options before making a decision will
46
30 sec
Q.
Establishing goals will help you
47
30 sec
Q.
Honest goal setting will usually help you __________ your priorities.
48
30 sec
Q.
A goal should have a(n)
49
30 sec
Q.
Which of the following is a major reason that people fail to reach their goals?
