Take Charge Of Your Financial Well Being - Money Matters Question Preview (ID: 29017)


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You are going to set 3 academic goals for this semester. These goals are MOST likely to be accomplished if:
a) you discuss them with your parents
b) you let your friends set your goals
c) you write the goals down
d) you think about your goals monthly

If you are saving $25 a month to purchase a $150 phone in 6-months, what kind of goal is this?
a) short-term
b) long-term
c) this is not an example of a goal
d)

You want to participate in an activity that will improve your well-being. Which would contribute the LEAST to your well-being?
a) an activity that you and your friend would like to participate in
b) an activity that doesn't cost much money but is lots of fun
c) an activity that your teacher suggests because she knows you well
d) an activity that is dangerous and costly

Giving up one thing for another
a) opportunity cost
b) trade-off
c) need
d) values

value of something that must be given up to acquire or achieve something else
a) trade-off
b) opportunity cost
c) value
d) want

Need
a) Goods or services that are required for survival. 
b) The desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival.
c) A fundamental belief or practice about what is desirable, worthwhile, and important to an individual
d) new shoes for the prom

A fundamental belief or practice about what is desirable, worthwhile, and important to an individual
a) value
b) trade-off
c) opportunity cost
d) need

Which of the following factors is not influenced by values?
a) your choice of friends
b) your daily decisions
c) your financial decisions
d) your age

Which of the following is likely to have the LEAST influence on an individual's values?
a) media
b) family
c) religion
d) grade average

You want your class project to reflect your values. Which item would be BEST to include?
a) things that you intend 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 your fundamental beliefs about what is worthwhile and important to you
d) things that are unnecessary but desired, which increase the quality of your life

If you are creating a timeline of your financial future, where should the timeline end?
a) when your financial goals have been established
b) when your money management plan has established high well-being
c) when you are 70 years or older
d) never

How can you improve your intellectual well-being?
a) go to the gym 3 times a week
b) challenge yourself by taking a new project on at work
c) join a volunteer group
d) take a vacation from work

Which of the following will contribute THE MOST to your financial well-being?
a) take a personal finance class to learn how to manage money
b) pay back everyone that you have borrowed money from
c) talk to your friends about how to manage money better
d) open up a checking account to help organize your money

Which is NOT considered to be true?
a) you are responsible for your present and your future self
b) your present self impacts your future self
c) you are better off in a community than by yourself
d) you do not have to worry about your finances if you carry insurance

Pay Yourself First
a) have fun with any extra money you have left after paying bills
b) save money each time you are paid before using any other money spent on wants
c) make sure you pay your bills first and then pay yourself first by doing something fun with it
d) make sure your paycheck is correct

Financial goal
a) specific objectives to be accomplished through financial planning and includes saving money
b) giving up one thing for another
c) the end result of something a person intends to do or reach such as losing weight
d) does not need to be written in SMART format

Savings
a) the portion of income not spent on current expenses
b) money paid out or received in the future
c) giving up one thing for another
d) depository institution

Money paid out or received in the future is not equal to the money paid out or received today:
a) savings
b) pay yourself first
c) time-value of money
d) depository institution

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