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Responsible Money Choices
Test Description: Vocabulary terms used in Vault
Instructions: Answer all questions to get your test result.
1) Considering different information to make a choice.
A
decision making
B
opportunity cost
C
financial advisor
D
financial literacy
2) Keeping important information to yourself or between yourself and close family members.
A
saving
B
inflation
C
privacy
D
investing
3) The knowledge and skills to manage money.
A
financial advisor
B
decision making
C
financial literacy
D
financial institution
4) A place, like a bank, that helps its members manage their money.
A
financial institution
B
financial literacy
C
financial advisor
D
inflation
5) A person who is an expert at handling money and can give you information and advice about saving and investing.
A
financial advisor
B
financial literacy
C
inflation
D
financial institution
6) A goal that can be achieved in a short amount of time. It can be a few days, weeks, or months.
A
need
B
long-term goal
C
want
D
short-term goal
7) A goal that can be achieved in a longer amount of time. It can be months, years, or even an entire lifetime.
A
short-term goal
B
need
C
long-term goal
D
want
8) Something you'd like to have but will be okay without.
A
want
B
short-term goal
C
long-term goal
D
need
9) Something you truly can't live without
A
want
B
long-term goal
C
short-term goal
D
need
10) The cost you pay when you give up something to get something else.
A
short-term goal
B
inflation
C
long-term goal
D
opportunity costs
11) The price of goods and services rises over time.
A
need
B
opportunity costs
C
inflation
D
want
*select an answer for all questions
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