Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
MM Chapter 1 And 2 MC Part 2
Test Description: MC 37-38
Instructions: Answer all questions to get your test result.
1) At your age, a fully funded emergency fund should be
A
$1000
B
$5000
C
$500
D
$100
2) Instead of borrowing money for purchases, you should set money aside in a ___ over time and pay with cash
A
sinking fund
B
money market
C
emergency fund
D
credit card
3) Using the sinking fund, how much do you have to save each money to buy a $4800 car one year from now?
A
$275
B
$300
C
$500
D
$400
4) The saving habits of Ben and Arthur mentioned in Ch 2 best illustrate which principle of saving?
A
length of time money is invested matters
B
rate of return matters
C
both initial investment and length of time are important
D
amount of initial investment is the key
5) Which of the following is not a reason your emergency fund should be kept in a separate account away from your spending money
A
so that you do not get your spending and saving money confused
B
so that it is clear what money is only to be used for emergencies
C
so your emergency fund savings can earn a lot of interest
D
so that it is not too easy to access
6) Which of the following is not one of the 3 basic reasons for saving money?
A
vacations
B
emergency fund
C
build wealth
D
purchases
7) Which of the following is a reason that people don't save money?
A
they do not live on a budget
B
all of these
C
they lack focus
D
they lack discipline
8) What does it mean to have a negative savings rate?
A
saving for something that is a want instead of a need
B
having no savings at all
C
having a fully funded emergency fund
D
spending more money than you make and acquiring debt
9) Using the sinking fund, how much do you have to save each month to buy a $2500 TV in 6 months?
A
$100
B
$208.33
C
$416.66
D
$250
10) How much money would your savings balance be after one year if you have $1000 earning 2% intrest
A
$1002
B
$1200
C
$1022
D
$1020
11) If your monthly expenses were $3,000, your fully funded emergency fund should be
A
$9000-$18000
B
$6000-$9000
C
$3000-$9000
D
$3000-$6000
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?