'23 Benchmark Study Guide 2

The quality of an education is based on how expensive it is.

• FALSE

• TRUE

How long does it take for bankruptcy filings to be removed from your financial records?

• 10 years

• 15 years

• 7 years

• 3 years

If you have low credit, your interest rate will be high.

• False

• True

What is found in areas of high college attendance?

• Higher crime rates and lower cost of living

• Low job opportunity and people living outside their means

• Higher Illness, higher welfare, high unemployment

• Decrease in crime, illness and lower welfare enrollment

What does deferment mean in regards to loans?

• Pause paying your loans

• The loan is forgiven

• Someone else pays your loan

• Your interest rate raised

Deferring your loan pauses the occurrence of interest.

• True

• False

How do you define a recession?

• A temporary decrease in the prices of goods and services

• A decline in economic activity that lasts for two quarters or a year

• A sudden increase in consumer spending and investment

• A period of economic growth and increased employment

What are the three circles of the locus of control?

• Internal, external, and influence

• Self, society, and nature

• Personal, social, and environmental

• Individual, collective, and universal

Which circle of the locus of control refers to the belief that individuals have control over their own actions and outcomes?

• Internal

• External

• Circumferential

• None of the above

When setting a SMART goal, why is it important for the goal to be time-focused?

• It provides a clear deadline for achieving the goal.

• It allows for flexibility in the goal's timeline.

• It increases the complexity of the goal.

• It decreases the motivation to achieve the goal.