Financial Health

10 Questions | Total Attempts: 1958

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Financial Management Quizzes & Trivia

Read the two articles on Financial Health. Answer the questions, score 80% or better and receive 10 MHP points.


Questions and Answers
  • 1. 
    The best way to  create a budget is to buy an expensive software package.
    • A. 

      True

    • B. 

      False

  • 2. 
    Setting goals is an important element of financial wellness.  Setting goals...
    • A. 

      Could cover the short term which is within the year

    • B. 

      Could cover an intermediate term which is up to five years

    • C. 

      Could cover long term which is more than five years away

    • D. 

      Gives you an objective view of spending

    • E. 

      All of the above

  • 3. 
    Cash flow is the movemnet of money in and out of your household.  True or False?
    • A. 

      True

    • B. 

      False

  • 4. 
    The way to measure cash flow is to : There are two correct answers
    • A. 

      Track all of your income and expenses

    • B. 

      Track your spend and savings based on your pay schedule

    • C. 

      Leave out what you put into savings

  • 5. 
    Special purchases, such as presents and holiday gifts, need to be figured into the budget.  The best way to do this is figure the total amount of the purchases and divide it by 12 months.
    • A. 

      True

    • B. 

      False

  • 6. 
    If your expenses are running high you could, Check all that apply.
    • A. 

      Look for ways to spend less.

    • B. 

      Cut back on eating out.

    • C. 

      Give up on tracking

  • 7. 
    Once a budget is determined, it should always remain as is.
    • A. 

      True

    • B. 

      False

  • 8. 
    You can adjust your buget by making small changes in your habits.  True or false?
    • A. 

      True

    • B. 

      False

  • 9. 
    It's never too late to start saving.  True or False.
    • A. 

      True

    • B. 

      False

  • 10. 
    Overspending can cause a stressful situation.  By looking at your spending and your saving and setting goals you are on the right track to feeling more confident about your financial health.  True or False.
    • A. 

      True

    • B. 

      False