Naresh started a new job and is having some of his paycheck deposited directly into a savings account. Which of the following values BEST explains why Naresh does this on a regular basis?

FCEE Ch1 Quiz

Quiz
•
Financial Education
•
10th Grade
•
Easy
Mawiyah Skinner
Used 10+ times
FREE Resource
16 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Inner
Social
Physical
Financial
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You overhear your friend Ginny say, "I made a budget for myself in my personal finance class and used my values to decide how I want to use my money." What does Ginny mean by this?
Ginny used the value of her bank account balance to decide how to use her money
Ginny asked her friends and family for advice to decide how to use her money
Ginny followed recommendations she saw on social media to decide how to use her money
Ginny identified what is important to her and used that knowledge to decide how to use her money
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are social values, as they pertain to money?
How you, personally, care and think about finances
How your family, friends, and community members impact your feelings about money
How companies and advertisement make you feel about money
How banks and other financial institutions treat you and your money
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Behavioral economics...
Is a field of economics that studies people who make rational and objective decisions
Analyzes how different economies around the world behave over time
Tracks and examines stock market trends over a certain period of time
Combines economics and psychology to study why people behave the way they do in the real world
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The belief that our abilities are better than they actually are is an example of...
Overconfidence
Mental accounting
Hedonic adaptation
Cognitive dissonance
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is TRUE about cognitive biases?
Awareness is often the first step to overcoming the influence of a cognitive bias
It is easy to recognize when cognitive biases are influencing our own decisions
There is rarely anything you can do to combat a cognitive bias’ influence
There are only a handful of cognitive biases that exist
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Andrew wants to buy a specific model of a new car. He conducts research and finds many resources that highlight the benefits of that car model. Which cognitive bias might be influencing Andrew’s decision making?
Confirmation bias
Hedonic Adaptation
The Sunk Cost Fallacy
Overconfidence
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