QUIZ 1 MGF2243

Personal finance is also known as

• money market
• money management
• monetary decision
• monetary resources

The followings are the financial goals EXCEPT:

• savings
• current consumption
• future consumption
• insurance protection

The financial goals should be 'SMART'. 'R' indicates for

• relevant
• reliable
• realistic
• reasonable

There are seven (7) components of financial planning areas.

• True
• False

The principal goal of _____________ planning is to identify and analyze risk factors in life.

• debt planning
• insurance planning
• retirement planning
• investment planning

Paying off small debts by the end of the year is example of

• short-term goals
• medium-term goals
• long-term goals
• attainable goals

You can benefit from personal financial planning if you are

• an employee
• a self-employed
• a student
• any of these

The most important personal finance goal is

• financial independence
• financial interdependence
• current consumption
• future consumption

If we plan to buy a new laptop, we need to set aside a certain amount of money in any temporary investment. This action is suitable in which of the personal financial planning process?

• Review current financial situation
• Set financial goals
• Identify courses of action
• Develop financial plan

The whole process of calculating the _________ is known as 'compounding'.

• present value
• future value