
PFL FINAL
Quiz
•
Other
•
12th Grade
•
Practice Problem
•
Easy
Whytnee Shattuck
Used 5+ times
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39 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money Management refers to:
Trade-offs that occur with financial decisions
Day-to-Day financial activities
Storing financial records for easy access
Spending money on current living expenses
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How long should you keep your current will?
Three Years
Seven Years
Until you find a lawyer
Permanently
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Current liabilities are the debts you must pay within a short amount of time, usually less than a year.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When creating a personal balance sheet, which of the following is an investment asset?
Personal possessions
Retirement accounts
Vacation property
Checking account
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount you would have left if all assets were sold and all debts were paid in full is called:
Net assets
Total income
Net worth
Total liabilities
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The inability to pay debts when they are due because liabilities far exceed the value of assets is called:
Liabilities
Cash Flow
Insolvency
Net Worth
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