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Personal Finance - Objective 1.01
Test Description: Personal Finance - Money in my Life
Instructions: Answer all questions to get your test result.
1) Which of the following statements about our interactions with money is NOT considered to be true?
A
Your present self impacts your future self.
B
Investment increases risk and reduces your ability to cope with risk and uncertainty.
C
You are responsible for your present self and your future self.
D
You are better off in a community than by yourself.
2) Carter wants to participate in an activity that will improve his well‐being. Which of the following activities would contribute the most to his well‐being?
A
An activity that his teacher suggested to him.
B
An activity his friends like to participate in.
C
An activity that doesn’t cost much money.
D
An activity that makes him lose track of time.
3) Jenna wants to improve her financial well‐being. Which of the following would contribute the most to her financial well‐being?
A
Pay her grandma back the money she borrowed to take a school trip last year.
B
Take a personal finance class to learn how to manage her money.
C
Open another checking account to help her organize her money.
D
Pay her grandma back the money she borrowed to take a school trip last year.
4) Jacob is wondering how he can improve his intellectual well‐being. Which of the following would contribute the most to his intellectual well‐being?
A
Challenge himself by taking on a new project at work.
B
Join a local service organization.
C
Take a vacation from work.
D
Go to the gym three times per week.
5) Sylas is studying financial planning in one of his classes. His teacher has assigned him to create a timeline of his financial future. Where should the end of his financial planning timeline be set?
A
When his financial goals have been established.
B
When he is 70‐years‐old.
C
Never – it is an ongoing process.
D
When he money management plan has established high well‐being.
6) Erica wants her class project to reflect her values. Which items would be best to include?
A
Things that she intends to acquire, do, reach or accomplish in the near or distant future.
B
Things that are necessary or essential for life and survival.
C
Things that reflect her fundamental beliefs about what is worthwhile and important to her.
D
Things that are unnecessary but desired which increase the quality of her life.
7) Specific objectives that are accomplished through financial planning
A
Financial planning
B
Financial goals
C
Financial well-being
D
Well-being
8) Managing money continuously through life in order to reach your financial goals
A
Financial goals
B
Financial planning
C
Financial well-being
D
Well-being
9) Managing money in ways that build a sense of understanding, competence, and control
A
Well-being
B
Financial goals
C
Financial planning
D
Financial well-being
10) Feeling good about one’s life
A
Financial planning
B
Financial goals
C
Financial well-being
D
Well-being
*select an answer for all questions
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