Personal Finance 2.01 Game 2: Question Preview (ID: 7154)


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Which is an example of an adult in a mid-years family?
a) Shirley, age 30, single mom with two sons in middle school, adopting an infant girl b) Steve, age 38, married, two small children c) Tammy, age 23, plans to get married in the spring d) Terry, age 58, lives with her 60-year-old husband, both plan to retire in five years
Which is an example of a typical need of an expanding family?
a) Completing education needed to match career goals b) Purchasing supplies for a nursery for the new baby c) Saving money for child's college tuition d) Transfering funds to pay their son's college tuition
Which is a variation of the typical family life cycle?
a) A couple are planning a winter wedding. b) A couple have decided not to have children. c) A mother and father have three children in college at the same time. d) A mother and father have two children in elementary school.
Which is an example of a typical need of a beginning family?
a) Completing education needed to match career goals b) Finding a home large enough for growing children c) Planning retirement funds d) Transferring funds to pay their son's college tuition
Which is an example of a typical income for an adult in a mid-years family?
a) Commission as a salesman for a car dealership b) Large salary for a management position c) Minimum wage job d) Volunteer for a community service organization
Which is an example of a typical income for a teen in a parenting family?
a) Commission as a salesman for a car dealership b) Large salary as company vice-president c) Minimum wage job d) Volunteer to work for a service group with no pay
Which is an example of a typical expense for an adult in a launching family?
a) College tuition b) Down payment for a condominium c) Increased medical bills d) Music lessons
Doris and Bill Alston met with their lawyer to review their last will to be sure their children would be well-provided-for. Which stage of the life cycle does this illustrate?
a) Before financial life cycle begins b) Basic wealth protection c) Wealth accumulation d) Wealth distribution
After her divorce, Marissa earned her master's degree and was hired as an executive in a downtown business firm. Which lifestyle conditions does this illustrate?
a) Dependents, education level, and health condition b) Economic outlook, marital status, and employment status c) Marital status, education level, and employment status d) Marital status, economic outlook, and age
Which is a variation of the typical family life cycle?
a) A mother and father have two children in high school. b) A mother's two children are in middle school; the stepfather's two children are grown. c) An elderly couple live alone now that their children are grown. d) Newlyweds are talking about the best time to start a family.
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