Financial Aptitude

Many celebrities, professional athletes, and entrepreneurs—people who can afford to live their desired lifestyles—have goals for their personal and professional achievements. Why do these successful people set goals?

• A. Goal-setting allows them to measure progress toward accomplishments or lifestyle changes they desire.

• B. Setting goals provides them with direction.

• C. Goal-setting gives them an opportunity to show off to others.

• D. Both “a” and “b.”

Which of the following states the five important components of a good goal?

• A. General, revised, active, safe, sound.

• B. Written, clear timeline, research-based, influenced by family, influenced by friends.

• C. Specific, measurable, achievable, realistic, time-driven.

• D. None of the above.

How can I start setting personal goals now?

• A. Daydream, think about and/or research the type of lifestyle you want to live, and write down ideas.

• B. Organize all of your past accomplishments into an organized timeline.

• C. Create a folder for school and extracurricular activities.

• D. Both “b” and “c”

How can automating my finances save me time, protect my credit, and earn me extra money?

• A. Having bills paid automatically will reduce time spent on accounting; paying bills on time protects credit; and setting up direct deposit from your employer means you will earn maximum interest each month.

• B. Automating your finances cannot protect your credit or help you earn money.

• C. Automating your finances organizes all your accounts in one place that can easily be reviewed and updated online.

• D. Both “a” and “c.”

Choose the answer that best describes how to automate your finances.

• A. Keep track of all the bills you pay on a spreadsheet, have a written budget, and set up an account with a bank or credit union.

• B. Have your employer direct deposit your paycheck, set up automatic bill-pay, set up automatic transfers to your savings account, and track all your finances on the mint.com website.

• C. Have all the companies you owe deduct their monthly payments directly from your checking account.

• D. None of the above.

What first step should I take to automate my finances?

• A. Graduate High School

• B. Write a budget

• C. check your credit scores

• D. open a checking & savings account

Why would I want to improve my credit score?

• A.To save money when purchasing a car loan

• B. to earn more interest on investments

• C. to help you get a job because many employers check their prospective employees' credit scores

• D. both "a" and "c"

From the following list, choose the two best suggestions for building and maintaining a good credit rating.

• A. Have money in savings and protect against identity theft

• B. keep your debt low and pay your bills on time

• C. make safe investments and set clear financial goals

• D. None of the above

What is the safest initial step that I can take to start building my credit?

• A. Get a credit card or student loan and pay the bill on time.

• B. Create a credit plan that includes a budget, money set aside for emergencies, and the steps you'll take to prove to the credit bureaus that you can repay money you borrow.

• C. Take a cash advance on a credit card and put the money in savings where it will earn interest.

• D. Both "b" and "c"

Why should I develop a professional résumé and practice my interview skills?

• A. To save time and get the job you want instead of wasting time unemployed or in a dead-end job.

• B. To receive a salary at the upper end of the range for your position.

• C. So you can take the first job offer presented to you.

• D. Both “a” and “b”.