7086 Personal Finance
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When you get that good job it comes with great pay too therefore giving rise to the need to better plan on how to use the money. Good personal finance opens an individual to investments that will increase their income. What can you recall from the topic on personal finance? Take up the quiz to find out.
- 1.Tom's goal is to buy a $500 stereo system by saving $50 a week from each paycheck for the next ten months. Which phrase BEST decribes this goal?
- A.
Measurable, but not realistic
- B.
Realistic, but not measureable
- C.
Specific and time-bound
- D.
Specific, but not time0bound
- 2.Shannon always shops at Office Mall when she needs office/school supplies. This illustrates a decision made:
- A.
By following logical steps
- B.
From habit
- C.
On impulse
- D.
With options in mind
- 3.Shelia realized that she needed to choose something to wear for her scholarship interview. Which steps in decision-making is this?
- A.
Identify the decision to be made
- B.
Identify resources and gather information
- C.
Identify the options
- D.
Identify the pros and cons of each option
- 4.Jeremy decided to contribute part of his earnings to the church fundraiser because, like his parents, he felt a strong commitment toward helping his church. Which type of factore MOST LiKELY infulences Heremy's decisions?
- A.
Cultural
- B.
Economic
- C.
Legal
- D.
Media
- 5.Which is the BEST example of needs influencing financial decisions? Carol decided to use her birthday money to:
- A.
Buy a trendy new shirt int he style that all her friends were wearing
- B.
Give her money in support of a political candidate
- C.
Purchase a new winter coat because she'd outgrown her old one.
- D.
Take a trip to the mountains just for the fun of it.
- 6.Which is an example of saving?
- A.
Mr. Clark used hs credit card to order takeout food online.
- B.
Mrs. Eames receives extra money in her paycheck each October since she qualified for longevity.
- C.
Ms. Dennis has $100 of his salary for each pay period depositied in an interest-bearing account.
- D.
The bartons secured a loan to buy a two-storu townhome in the suburbs.
- 7.Michelle charges $8 an hour when she babysits for neighbors. This is an example of which economic activity?
- A.
Borrowing
- B.
Earning
- C.
Saving
- D.
Spending
- 8.Harold saves all extra income earned during peak seasons to give him money to fall back on during off-season months when work is more difficult to find. This illustrates which bebefit of savings?
- A.
Can be used to earn additional income
- B.
Increases financial security
- C.
Produces a healthier economy
- D.
Provies growth opportunities for small businesses
- 9.Which is an example of repsonsible spending?
- A.
Before buying her class ring, Beth compated costs and quality of rings from three sources.
- B.
Carolyn decided to save $10 a week during her junior year to help pay for her senior expenses.
- C.
Dee borrowed her mother's sweater only after her mother dois it would be fine.
- D.
Eli decided not to accept the offer of a part-time job because he needed more time to study.
- 10.Financial Goals should be SMART: Tell me what this means
- 11.What are values?
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