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

Quiz
•
Other
•
9th Grade
•
Medium
Jonathan Gennace
Used 5+ times
FREE Resource
20 questions
Show all answers
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
Create a free account and access millions of resources
Similar Resources on Wayground
20 questions
Banking

Quiz
•
9th - 12th Grade
20 questions
Financial cybercrime and fraud

Quiz
•
9th - 12th Grade
20 questions
BTEC Business Unit 2

Quiz
•
9th - 11th Grade
20 questions
Personal Finance Chapter 3

Quiz
•
9th - 12th Grade
20 questions
Financial Literacy

Quiz
•
9th Grade
20 questions
Components of a College Application

Quiz
•
9th Grade
20 questions
Wellness Wheel

Quiz
•
8th - 12th Grade
20 questions
Insurance Terms

Quiz
•
7th - 9th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade