Can you pass this most challenging finance test? For this quiz, you will be expected to know how to define a need, how goals are accomplished, and what financial planning is. Can you identify an action statement, what do individuals with more formal training usually have, and how does the government use money collected from taxes? If you are searching for a way to test your financial intelligence, look no further than this quiz.
Media
Family
Religious affiliations
Grade average
The end result of something a person intends to acquire, achieve, do, reach, or accomplish in the near or distant future.
Something thought to be a necessity or essential items required for life.
A fundamental belief or practice about what is desirable, worthwhile, and important to an individual.
Something unnecessary but desired or items that increase the quality of living.
Short-term goal
Long-term goal
Education Goal
This is not an example of a goal
Time Bound
Specific
Attainable
Measurable
Lets his/her parents set their goals.
Lets their friends set their goals.
Writes their goals down.
Thinks about their goals often.
A fundamental belief or practice about what is desirable and worthwhile.
A process used to achieve financial success based upon financial goals and plans.
An investment plan that includes stocks, bonds, and mutual funds.
A set of financial documents including net worth, a will and insurance policies.
Life cycle conditions
Life cycle crisis
Financial needs
Goals
Supervised daily operations of 4 employees.
I saved money from a part-time job to finance the purchase of a new car.
I participated in the Family Career, and Community Leaders of America (FCCLA) as a member in a chapter of 32 students.
Speech and Drama Team.
Commit to a profession that requires a college degree.
Choose a career that offers the amount of money desired.
Develop personal goals, complete an interest inventory, and research careers.
Choose a training program that will guarantee employment after the course work is completed.
Salary
Human capital
Family
Interest inventory
Higher estimated lifetime earnings.
Lower personal satisfaction.
Greater amounts of leisure time.
More comfortable work environments.
Susan will have more spending power if she moves to Indianapolis.
Susan will have more spending power if she stays in Kansas City.
Susan will have the same spending power in Indianapolis as she has in Kansas City
There is not enough information to decide.
Finance the Internal Revenue Service.
Encourage private enterprise.
Establish food networks.
Provide goods and services to the public.
Relies on the taxpayer for financial support.
Relies on the government for their Social Security benefit check.
Pays the taxes for all the members of the family.
Depends on their job for needed financial support to pay their expenses.
$181.66
$363.32
$576.92
$640.00
$501.66
$320.00
$576.92
$640.00
Needs
Values
Wants
All of the above
Decrease expenses
Use a credit card more often
Earn less income
Increase purchases
Checking and savings accounts.
Loans and investments.
Financial counseling.
All of the above.
$50,000.00
$1,000,000.00
$250,000.00
$10,000.00
Eliminate the need to reconcile their bank account.
Correct fraud or identity theft as soon as it occurs.
Have 3-4 days of float time after a check is written.
Have 24/7 access to banking transactions.
Debit cards allow for overspending and credit cards are limited to the amount in the designated bank account.
A debit card withdraws money from a designated bank account for immediate payment instead of making purchases on credit
Credit cards are not widely accepted by stores but debit cards are.
Debit cards and credit cards function in the same manner.
Make the transaction using their personal e-mail account.
Use an online banking account that is password protected
Make sure that the bank website uses https in the URL and the closed pad lock icon.
B and c only
A, b, and c
Savings is used to pay for long-term goals, while investing is used to pay for emergencies.
Savings are less liquid than investing.
Savings provide the foundation for financial security while investing is used to pay for long-term goals, such as retirement.
All of the above
$3600
$4500
$7200
$14,400
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