PFL Quiz #5

What is the role of a Financial Advisor?

• To provide medical insurance

• To manage and plan financial investments

• To sell consumer goods

• To offer legal advice

What does Medicare provide?

• Auto insurance

• Educational loans

• Financial advice

• Health insurance for the elderly

What is an Impulse Purchase?

• A planned investment

• A spontaneous buying decision

• A type of insurance

• A financial plan

What is the purpose of Auto Insurance?

• To protect against vehicle-related damages

• To cover health expenses related to an auto accident

• To manage wealth

• To provide educational funding

What is Generational Wealth?

• Wealth accumulated in one generation

• Wealth passed down through generations

• Wealth used for impulse purchases

• Wealth used for auto insurance

What is Inherited Wealth?

• Wealth earned through personal effort

• Wealth received from previous generations

• Wealth used for consumer goods

• Wealth used for capital goods

Who is a Self Made Person?

• Someone who inherits wealth

• Someone who advises on finances

• Someone who builds wealth independently

• Someone who purchases impulsively

What is the purpose of Form W-4?

• To apply for Medicare

• To determine tax withholding

• To purchase auto insurance

• To apply for financial aid

What does FAFSA stand for?

• Free Application for Federal Student Aid

• Financial Aid for Senior Adults

• Federal Assistance for Student Applications

• Free Aid for Student Activities

What are Capital Goods?

• Goods used for personal consumption

• Goods used to produce other goods

• Goods related to Medicare

• Goods purchased impulsively