Personal Finance - Objective 1.01 Question Preview (ID: 34882)


Personal Finance - Money In My Life.

Which of the following statements about our interactions with money is NOT considered to be true?
a) You are responsible for your present self and your future self.
b) Your present self impacts your future self.
c) You are better off in a community than by yourself.
d) Investment increases risk and reduces your ability to cope with risk and uncertainty.

Carter wants to participate in an activity that will improve his well‐being. Which of the following activities would contribute the most to his well‐being?
a) An activity his friends like to participate in.
b) An activity that doesn’t cost much money.
c) An activity that his teacher suggested to him.
d) An activity that makes him lose track of time.

Jenna wants to improve her financial well‐being. Which of the following would contribute the most to her financial well‐being?
a) Take a personal finance class to learn how to manage her money.
b) Pay her grandma back the money she borrowed to take a school trip last year.
c) Pay her grandma back the money she borrowed to take a school trip last year.
d) Open another checking account to help her organize her money.

Jacob is wondering how he can improve his intellectual well‐being. Which of the following would contribute the most to his intellectual well‐being?
a) Go to the gym three times per week.
b) Challenge himself by taking on a new project at work.
c) Join a local service organization.
d) Take a vacation from work.

Sylas is studying financial planning in one of his classes. His teacher has assigned him to create a timeline of his financial future. Where should the end of his financial planning timeline be set?
a) When his financial goals have been established.
b) When he money management plan has established high well‐being.
c) When he is 70‐years‐old.
d) Never – it is an ongoing process.

Erica wants her class project to reflect her values. Which items would be best to include?
a) Things that she intends 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 her fundamental beliefs about what is worthwhile and important to her.
d) Things that are unnecessary but desired which increase the quality of her life.

Specific objectives that are accomplished through financial planning
a) Financial goals
b) Financial planning
c) Financial well-being
d) Well-being

Managing money continuously through life in order to reach your financial goals
a) Financial goals
b) Financial planning
c) Financial well-being
d) Well-being

Managing money in ways that build a sense of understanding, competence, and control
a) Financial goals
b) Financial planning
c) Financial well-being
d) Well-being

Feeling good about one’s life
a) Financial goals
b) Financial planning
c) Financial well-being
d) Well-being

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