What is the primary purpose of personal financial planning?
Personal Financial Planning - Multiple Choice Test

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Other
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9th Grade
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Medium
Jonathan Gennace
Used 5+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
To limit personal spending
To ensure an individual’s financial goals are achieved
To avoid paying taxes
To increase wealth at all costs
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following best describes the term "goals" in personal financial planning?
Short-term or long-term objectives a person wants to achieve
Financial principles that guide decision-making
Investments that generate income
Economic resources for building wealth
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What are "values" in the context of financial planning?
The amount of money needed for future expenses
Principles that guide your decisions on how to allocate resources
Loans taken for educational purposes
The cost of living
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Opportunity cost refers to:
The amount of money lost on an investment
The next best alternative forgone when making a decision
The total interest paid on a loan
The future value of a financial decision
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following defines "liquidity" in financial terms?
The ability to easily convert an asset into cash
The amount of interest charged on loans
The long-term profitability of an investment
The total supply of money in the economy
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A “service” can be defined as:
A) A physical product that can be bought or sold
B) An intangible activity provided to satisfy needs or wants
C) A tangible asset that holds its value over time
D) A method of financing personal goals
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A "good" refers to:
A) A physical product that can be bought or sold
B) An intangible activity provided to satisfy needs or wants
C) A tangible asset that holds its value over time
D) A method of financing personal goals
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