Ramsey Ch1 B Question Preview (ID: 57319)
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What is The Fifth Foundation?
a) Pay cash for your car
b) Get out and stay out of debt.
c) Find a financial professional.
d) Build wealth and give.
A ________financial goal takes up to two years to reach.
a) five level
b) medium term
c) short term
d) long term
Personal finance is 20% _________and 80%__________ .
a) Head knowledge; behavior
b) Behavior; head knowledge
c) Cause; effect
d) Reactions; behaviors
When you set financial goals, they should be . . .
a) Timely, bank-based, specific, and yours
b) only time sensitive
c) specific and measurable
d) Specific, measurable, time-sensitive, yours, and written
which of the following foundations has to do with giving your time?
a) emergency fund
b) pay cash for college
c) be generous
d) pay cash for car
You are either only a natural saver or a natural spender. You cannot have a balance of both.
a) true
b) false
c) maybe
d) misleading
if you have 2 credit cards with the same amount owed (balance), but they have different interest rates, pay the one with the _______ interest rate first
a) lower
b) higher
c) n/a
d) n/a
an expression used to describe a person or household whose monthly income is devoted to expenses and has little to no savings
a) paycheck to paycheck
b) broke joke
c) goat
d) no cheese
a person or organization that uses a product or service
a) user
b) producer
c) consumer
d) manufacturer
person or entity that charges borrowers interest rates above an established legal rate
a) credit catfish
b) street rat
c) loan shark
d) debt dolphin
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