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Personal Finance: Goals Quiz
Test Description: Unit 1
Instructions: Answer all questions to get your test result.
1) The S in a SMART goal stands for
A
Smart
B
Short Term
C
Silly
D
Specific
2) The M in a SMART goal stands for
A
Miserable
B
Measurable
C
Marginal
D
Marketable
3) The A in a SMART goal stands for
A
Assessable
B
Acountable
C
Achieveable
D
Applicable
4) The R in a SMART goal stands for
A
Risky
B
Rotate
C
Rounded
D
Realistic
5) The T in a SMART goal stands for
A
Tepid
B
True
C
Tempting
D
Timely
6) The timing of a short term goal is
A
Less than one year
B
Less than 24 hours
C
Less than one month
D
Less than one week
7) The timing of a medium term goal is
A
Less than one year
B
One to three years
C
Five to 15 years
D
Five to ten years
8) The timing of a long term goal is
A
Longer than one year
B
Longer than 15 years
C
Longer than ten years
D
Longer than five years
9) Giving something up to obtain something else you want i called
A
True cost
B
Sacrifice cost
C
Monetary cost
D
Opportunity cost
10) If you buy an XBOX One instead of a Playstation 4 the opportunity cost of your decision is
A
A new phone
B
The XBOX
C
A Wii U
D
The Playstation
*select an answer for all questions
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