PF 1.02 Question Preview (ID: 15009)


Earning, Spending, Saving, Borrowing. TEACHERS: click here for quick copy question ID numbers.

Ted earns $250 a week from his part-time job. His goal is to save $150 each month to go on a vacation. Which phrase BEST describes this goal?
a) Attainable, but not measurable
b) Measureable and time-bound
c) Measurable, but not time-bound
d) Specific, but not measurable

Mary's goal is to put aside money for Christmas presents from May until December. Which phrase BEST describes this goal?
a) Attainable and measurable
b) Realistic, but not time-bound
c) Time-bound, but not realistic
d) Time-bound, but not measurable

Matt's goal is to save his pocket money to buy a used CD player from his cousin who has just bought a new player. Which phrase BEST describes this goal?
a) Measurable and time-bound
b) Measurable, but not time-bound
c) Not measurable and not time-bound
d) Time-bound, but not measurable

Mrs. Dunn always goes to the cleaners around the corner from her job. This illustrates a decision made:
a) by following logical steps
b) from habit
c) on impulse
d) with options in mind

In the morning Carla was invited on a trip. At lunch, she was invited to go shopping. Carla would have to make a choice. What step in the decision making process is this?
a) Identify the decision to be made
b) Identify resources and gather information
c) Identify the options
d) Identify the pros and cons of each option

Mark's card wouldn't start and looked at his bank balance, and asked his uncle, who is a mechanic, if he could teach him how to make needed repair. Which step is this?
a) Identify the decision to be made
b) Identify resources and gather information
c) Identify the options
d) Identify the pros and cons of each option

Mandy researched the male/female ratios to help her select between the three universities. She based her decision on the male-to-female ratio. Which type of factor influenced this?
a) Cultural
b) Demography
c) Social
d) The marketplace

Since she did not approve of slaughtering animals for their fur, Hilton decided not to purchase a coat with a natural fur collar. Which type of factor MOST LIKELY influenced Hilton
a) Economic
b) Legal
c) Moral
d) Technology

Which is the BEST example of wants influencing financial decisions? The Barton family decided to spend their tax refund to:
a) pay off medical bills.
b) buy new clothes for the start of the school year.
c) repair their leaky roof
d) take a trip they had longed for

Single mom Marjorie works full-time to take care of her two children and her aging grandmother. Which lifestyle conditions does this illustrate?
a) Age, dependents, and health condition
b) Dependents, marital status, and employment status
c) Marital status, education level, and economic outlook
d) Marital status, economic outlook, and age

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