Personal Finanace 2.01 Game 1 Question Preview (ID: 7153)
Personal Finanace 2.01 Game 1.
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Which is a variation of the typical family life cycle?
a) A mother and father have two children in high school.
b) A mother's two children are in middle school; the stepfather's two children are grown.
c) An elderly couple live alone now that their children are grown.
d) Newlyweds are talking about the best time to start a family.
Which is an example of a midlife adult in a launching family?
a) Shirley, age 30, single mom with two sons in middle school, adopting an infant girl
b) Steve, age 45, married, two children in college
c) Tammy, age 23, plans to get married in the spring
d) Terry, age 58, lives with her 60-year-old husband, both plan to retire in five years
Which is an example of a typical income for a teen in a parenting family?
a) Commission as a salesman for a car dealership
b) Large salary as company vice-president
c) Minimum wage job
d) Volunteer to work for a service group with no pay
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) Increased medical bills
d) Music lessons
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) Before financial life cycle begins
b) Basic wealth protection
c) Wealth accumulation
d) Wealth distribution
Which is a typical activity of working parents in a developing family?
a) Because Alice began to have more health problems after retirement, she increased her coverage
b) Beth and Bob are enjoying setting up their first home.
c) Carol and Chuck are putting money into a college fund for their children.
d) While their children are in college, Deb and Dean are revising their retirement plans.
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) Before financial life cycle begins
b) Basic wealth protection
c) Wealth accumulation
d) Wealth distribution
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) Stan set up a home care schedule for his aging parents.
c) Theo set up a workbench in one end of the couple's small garage.
d) Vera set up an estate plan leaving assets to each of her children and grandchildren.
Which is a typical activity of midlife adults in a launching family?
a) Alice and Ashley have more health problems after retirement, they increased their coverage
b) Beth and Bob are enjoying setting up their first home.
c) Carol and Chuck are putting money into a college fund for their new baby.
d) While their children are in college, Deb and Dean are revising their retirement plans.
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) Beth and Bob are enjoying setting up their first home.
c) Carol and Chuck are putting money into a college fund for their children.
d) While their children are in college, Deb and Dean are revising their retirement plans.
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