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Personal Finanace 2.01 Game 1
Test Description: Personal Finanace 2.01 game 1
Instructions: Answer all questions to get your test result.
1) Which is a variation of the typical family life cycle?
A
An elderly couple live alone now that their children are grown.
B
Newlyweds are talking about the best time to start a family.
C
A mother's two children are in middle school; the stepfather's two children are grown.
D
A mother and father have two children in high school.
2) Which is an example of a midlife adult in a launching family?
A
Steve, age 45, married, two children in college
B
Shirley, age 30, single mom with two sons in middle school, adopting an infant girl
C
Terry, age 58, lives with her 60-year-old husband, both plan to retire in five years
D
Tammy, age 23, plans to get married in the spring
3) Which is an example of a typical income for a teen in a parenting family?
A
Large salary as company vice-president
B
Volunteer to work for a service group with no pay
C
Commission as a salesman for a car dealership
D
Minimum wage job
4) 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
Music lessons
D
Increased medical bills
5) Mark Johnson began work as a bank manager with a good salary after graduation last year. His wife is a full-time university student working on a master's degree. Which lifestage?
A
Wealth distribution
B
Basic wealth protection
C
Before financial life cycle begins
D
Wealth accumulation
6) Which is a typical activity of working parents in a developing family?
A
Beth and Bob are enjoying setting up their first home.
B
While their children are in college, Deb and Dean are revising their retirement plans.
C
Because Alice began to have more health problems after retirement, she increased her coverage
D
Carol and Chuck are putting money into a college fund for their children.
7) Pat has decided to attend the local community college before transferring to the nearest state university to earn a degree in computer technology. Which stage of the life cycle?
A
Wealth accumulation
B
Wealth distribution
C
Basic wealth protection
D
Before financial life cycle begins
8) Which is a typical activity of an adult in an parenting family?
A
Roxie set up a chores chart with daily tasks for each child in the family.
B
Vera set up an estate plan leaving assets to each of her children and grandchildren.
C
Stan set up a home care schedule for his aging parents.
D
Theo set up a workbench in one end of the couple's small garage.
9) Which is a typical activity of midlife adults in a launching family?
A
While their children are in college, Deb and Dean are revising their retirement plans.
B
Alice and Ashley have more health problems after retirement, they increased their coverage
C
Carol and Chuck are putting money into a college fund for their new baby.
D
Beth and Bob are enjoying setting up their first home.
10) Which is a typical activity of older adults in an aging family?
A
Alice and Ashley began to have more health problems after retirement, they increased their coverage
B
Carol and Chuck are putting money into a college fund for their children.
C
Beth and Bob are enjoying setting up their first home.
D
While their children are in college, Deb and Dean are revising their retirement plans.
*select an answer for all questions
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