Cwmc Module 29: Travel & Vacation Competency Test

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Module Quizzes & Trivia

This quiz is part of LFEInstitute's CWMC (Certified Workplace Money Coaching) course. It willtest yourproficiency in the Travel & Vacation Module (Module 29) of theprogram. The questions are allmultiple choice, and are designed to be a review of this Module. LetLFE knowwhen you've successfully completed this test and are ready to begin thenext Module.

Correct answers required for passing grade: 11/12


Questions and Answers
  • 1. 

    Which of these travel goals is unrelated to CWMC Module 29: Travel & Vacation?

    • A.

      Avoid travel scams

    • B.

      Find tax havens abroad

    • C.

      Save thousands of dollars

    • D.

      Stay safe when taking vacations

    • E.

      Find low-cost destinations

    Correct Answer
    B. Find tax havens abroad
  • 2. 

    Which of the following locations would be good to suggest as a potential low-cost vacation option? (check all that apply)

    • A.

      Monaco

    • B.

      Las Vegas

    • C.

      London

    • D.

      New York City

    • E.

      U.S. National Parks

    Correct Answer(s)
    B. Las Vegas
    E. U.S. National Parks
    Explanation
    Las Vegas and U.S. National Parks would be good suggestions for potential low-cost vacation options. Las Vegas is known for its affordable accommodation and entertainment options, with many hotels offering competitive rates. U.S. National Parks offer a range of low-cost outdoor activities and camping options, making them a budget-friendly choice for nature enthusiasts. Monaco, London, and New York City, on the other hand, are known for their high cost of living and expensive tourist attractions, making them less suitable for a low-cost vacation.

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  • 3. 

    Which of the following would you include in a Money Coaching response as smart foreign travel tips? (check all that apply)

    • A.

      Pack lightly and efficiently

    • B.

      Hostels are expensive lodging options

    • C.

      Bring along a few basic first aid supplies

    • D.

      Travel during the “off season” to save money

    • E.

      Use cash exchange bureaus overseas for the best rates

    Correct Answer(s)
    A. Pack lightly and efficiently
    C. Bring along a few basic first aid supplies
    D. Travel during the “off season” to save money
    Explanation
    The correct answer choices for this question are pack lightly and efficiently, bring along a few basic first aid supplies, and travel during the "off season" to save money. These tips are all related to saving money and being prepared while traveling. Packing lightly and efficiently can save on baggage fees and make it easier to move around. Bringing basic first aid supplies can help save money on medical expenses. Traveling during the off season can lead to lower prices for accommodations and attractions. Using cash exchange bureaus overseas is not mentioned as a smart foreign travel tip in the question.

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  • 4. 

    National Financial Literacy Month is officially celebrated each year in:

    • A.

      February

    • B.

      April

    • C.

      June

    • D.

      August

    • E.

      October

    Correct Answer
    B. April
    Explanation
    National Financial Literacy Month is officially celebrated each year in April. This month is dedicated to promoting and raising awareness about the importance of financial education and literacy. It aims to encourage individuals to improve their financial knowledge and make informed financial decisions. By celebrating Financial Literacy Month in April, organizations and individuals can come together to provide resources, workshops, and events that help people develop the necessary skills to manage their finances effectively.

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  • 5. 

    Which of the following need to be avoided to keep money safe while traveling? (check all that apply)

    • A.

      Display only the minimum amount of cash necessary when making transactions

    • B.

      Use traveler's checks issued by American Express or a major bank

    • C.

      Take various credit cards when traveling

    • D.

      Hide the bulk of vacation funds out of site in your luggage

    • E.

      Keep most of your cash and valuables in a hotel safe whenever possible

    Correct Answer(s)
    C. Take various credit cards when traveling
    D. Hide the bulk of vacation funds out of site in your luggage
    Explanation
    To keep money safe while traveling, it is advisable to take various credit cards as it provides backup options in case one card is lost or stolen. Additionally, hiding the bulk of vacation funds out of sight in your luggage can help to minimize the risk of theft or loss. This way, even if some money or valuables are stolen, the majority of your funds will still be secure.

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  • 6. 

    Which of the following ways to take a vacation usually cost little or no money? (check all that apply)

    • A.

      Explore the U.S. National Park system

    • B.

      Purchase discount pro baseball tickets from walk-in sales staff

    • C.

      Redeem unused gift cards, coupons, and certificates

    • D.

      Check newspaper, radio, or television for area events, festivals, and local celebrations

    • E.

      Fly overseas during the holidays

    Correct Answer(s)
    A. Explore the U.S. National Park system
    B. Purchase discount pro baseball tickets from walk-in sales staff
    C. Redeem unused gift cards, coupons, and certificates
    D. Check newspaper, radio, or television for area events, festivals, and local celebrations
    Explanation
    Exploring the U.S. National Park system usually costs little or no money because many national parks offer free admission or have low entrance fees. Purchasing discount pro baseball tickets from walk-in sales staff can be a cost-effective way to enjoy a vacation as these tickets are often sold at a reduced price. Redeeming unused gift cards, coupons, and certificates can also help save money as they can be used towards various vacation expenses. Checking newspaper, radio, or television for area events, festivals, and local celebrations can provide free or low-cost entertainment options during a vacation. Flying overseas during the holidays is not a cost-effective way to take a vacation as international flights tend to be expensive.

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  • 7. 

    Select the signs of a possible travel scam: (check all that apply)

    • A.

      You're offered free or heavily discounted trips in exchange for attending "brief presentations"

    • B.

      Vague trip details, such as cancellation and refund policies

    • C.

      Physical address and toll-free number are listed on the travel company’s Web site

    • D.

      No purchase necessary to win an advertised prize

    • E.

      You're asked to pay before the travel agent provides a contract or written documentation

    Correct Answer(s)
    A. You're offered free or heavily discounted trips in exchange for attending "brief presentations"
    B. Vague trip details, such as cancellation and refund policies
    E. You're asked to pay before the travel agent provides a contract or written documentation
    Explanation
    Possible travel scams often involve being offered free or heavily discounted trips in exchange for attending "brief presentations". Another sign is vague trip details, such as unclear cancellation and refund policies. Additionally, if you're asked to pay before the travel agent provides a contract or written documentation, it could be a red flag indicating a scam.

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  • 8. 

    The act of families or groups vacationing together and sharing expenses is called:

    • A.

      Consolidating

    • B.

      Togethering

    • C.

      Staycationing

    • D.

      Familia

    • E.

      None of the above

    Correct Answer
    B. Togethering
    Explanation
    Togethering refers to the act of families or groups vacationing together and sharing expenses. It is a term that has emerged to describe the trend of people choosing to travel and spend time together as a group rather than individually. This concept allows for shared experiences, cost savings, and the opportunity to strengthen relationships and create lasting memories.

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  • 9. 

    Which of the following items are NOT advisable for foreign travel? (check all that apply)

    • A.

      Cashier’s checks

    • B.

      Passport

    • C.

      Debit card

    • D.

      Variety of credit cards

    • E.

      Traveler’s checks

    Correct Answer(s)
    A. Cashier’s checks
    D. Variety of credit cards
    Explanation
    Cashier's checks and a variety of credit cards are not advisable for foreign travel. Cashier's checks may not be widely accepted and may be difficult to cash in certain countries. Carrying a variety of credit cards increases the risk of loss or theft, as well as potential fraudulent charges. It is recommended to carry a passport, debit card, and traveler's checks for foreign travel as they are more widely accepted and provide a secure and convenient way to access funds.

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  • 10. 

    Which of the following are the most positive reasons for an employer to provide vacation benefits (PTO: paid time off) to employees? (check all that apply)

    • A.

      It’s required by federal law

    • B.

      It builds morale, creating more effective and productive employees

    • C.

      Employees need an occasional break to be more effective at work

    • D.

      It provides a good opportunity for the employer to cross-train other employees

    • E.

      It forces the remaining employees to work harder to compensate

    Correct Answer(s)
    B. It builds morale, creating more effective and productive employees
    C. Employees need an occasional break to be more effective at work
    Explanation
    Providing vacation benefits (PTO: paid time off) to employees has positive reasons such as building morale, creating more effective and productive employees. This is because employees who have time off to relax and recharge are more likely to be motivated and engaged in their work. Additionally, employees need occasional breaks to be more effective at work as it helps them to avoid burnout and maintain a healthy work-life balance. These benefits also provide a good opportunity for the employer to cross-train other employees, enhancing their skills and versatility.

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