Financial Literacy 150 Q's

Front

Which of the following refers to personal belongings which have value? Net Worth, Assets, Net Profit, Liabilities

Back

Assets

Front

Which of the following is an example of a personal asset? Credit Card Balance, Cash, Rent, Mortgage

Back

Cash

Front

An individual has total assets of $120,000 and total liabilities of $80,000. What is his net worth?

Back

$40,000

Front

Which of the following is considered to be a short-term goal?
Saving for a retirement fund,
Saving for a family vacation,
Saving for a college education,
Starting a new career

Back

Saving for a family vacation

Front

Which type of people like to plan for the future and are prepared for any type of financial situation? Options: Spenders, Flyers, Risk Takers, Security Seekers

Back

Security Seekers

Front

Which answers refer to individuals who do not consider money a necessity and don't have much of an opinion on money? Spenders, Flyers, Risk Takers, Security Seekers

Back

Flyers

Front

What does "A" represent in SMART goal setting practices?

Back

Attainable

Front

Which of the following is considered to be a long-term financial goal?
Options: Saving for a retirement fund, Buying a new car, Paying a specific amount on a credit card bill, Saving for a family vacation

Back

Saving for a retirement fund

Front

Which step of the financial planning process involves devising strategies to help accomplish financial goals?

Back

Identifying courses of action

Front

Which of the following is the last step in creating a financial plan?
Options:
Creating financial goals
Balancing income and expenses
Revising the plan
Implementing the budget

Back

Revising the plan