What's the best first step toward building my skill set now?

Find out the skills you need to reach your personal goals.

What are the functions of a business plan?

An initial marketing and income plan, setting goals later.

What is the safest initial step that I can take to start building my credit?

Create a plan with a budget, money aside, steps to pay loans

Which of the following states the five important components of a good goal?

Specific, measurable, achievable, realistic, time-driven.

How can I start setting personal goals now?

Think about the type of lifestyle you want to live.

Choose the answer that best describes how to automate your finances.

Use direct deposit, set up automatic bill-pay and transfers.

Choose the most important factors in determining the amount of money you earn.

The skills you possess and who you know.

What is my best first step to start a social enterprise?

Think about passions, do research, and talk with people.

Choose the two best suggestions for building and maintaining a good credit rating.

Keep your debt low and pay your bills on time.

What is the first thing I should do before searching for a job in my chosen career path?

Research jobs similar to what you enjoy and your strengths.

Building relationships with people within your work.

How do I begin the process of creating a long-term financial plan?

Write down goals for your career, finances, and life.

How can volunteering and supporting a nonprofit or cause I believe in benefit me?

Both answers “A” and “C”.

What first step should I take to automate my finances?

Open a checking and savings account.

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Real Game of Life

30 termsStudBud Administration19 plays

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Questions 30

Answers

1
What are the benefits of networking?
To create opportunities to serve others.
It allows you to meet new friends with similar interests.
Networking provides a source for future jobs.
All.
2
How can understanding risk management topics help me in everyday life?
You can avoid large medical bills incurred.
All.
It can help safeguard credit and protect from lawsuits.
Evaluating risks involved with various situations.
3
What's the best first step toward building my skill set now?
All.
Find out the skills you need to reach your personal goals.
Focus on building as many skills in as many different areas.
Enroll in college and figure it out along the way.
4
What are the functions of a business plan?
An initial guide, and detailed information on all aspects.
Provides a detailed plan focused on marketing and income.
A confidential document that establishs business goals.
An initial marketing and income plan, setting goals later.
5
Which of the following represents a skill-building method(s)?
All.
Being with people who have the skills you want to develop.
Attending college, trade school, or other education.
Surfing the web, reading articles, and watching videos.
6
How do I decide how much coverage I need when selecting car insurance?
All.
Ask someone with a high level of insurance expertise.
Ask salespeople from several different insurance companies.
Do research to find out your state's minimum requirement.
7
What is the safest initial step that I can take to start building my credit?
Take a cash advance on a card and put the money in savings.
Get a credit card or student loan and pay the bill on time.
Both “B” and “C”.
Create a plan with a budget, money aside, steps to pay loans
8
Which of the following states the five important components of a good goal?
None
Written, clear timeline, research-based.
Specific, measurable, achievable, realistic, time-driven.
General, revised, active, safe, sound.
9
Why do successful people set goals?
To progress toward accomplishments or lifestyle changes.
Both "A" and “B"
Setting goals provides them with direction.
To give them an opportunity to show off to others.
10
How can I start setting personal goals now?
Both “A” and “C”
Think about the type of lifestyle you want to live.
Organize all of your past accomplishments into a timeline.
Create a folder for school and extracurricular activities.
11
Which of the following worst-case scenario risks are possible when making investments?
All.
You can lose your entire investment.
Your real estate investment is not liquid so you can't sell.
Your stock investment loses all its value overnight.
12
Why would I want to improve my credit score?
To save money when purchasing a car with a loan.
To help you get a job, because many employers check credit.
To earn more interest on investments.
Both "A" and "C"
13
If at 21 I invest $100 per month with a 7% annual return, how much will I have after 70 years?
None.
More than 1.5 million dollars.
$138,957.
Between $150,000 and $225,000 depending on life expectancy.
14
Which of the following is NOT a good way to network?
All are good ways to network.
Social media sites (like Facebook or LinkedIn).
While in college, trying to meet many students in your major
Attending industry-specific trade shows.
15
Which of the following financial products can help you lower your personal risk?
None.
Mutual funds.
401k and retirement plans.
Insurance.
16
Choose the answer that best describes how to automate your finances.
Use direct deposit, set up automatic bill-pay and transfers.
Deduct monthly payments directly from your checking account.
None.
Track of bills, write budget, set up bank or credit account.
17
Choose the most important factors in determining the amount of money you earn.
The skills you possess and who you know.
High school diploma and volunteer work.
Both "B" and "C"
Your GPA and ACT score.
18
What is my best first step to start a social enterprise?
Think about passions, do research, and talk with people.
Form a company name, domain name, and logo.
Find friends or family to invest in your business.
Save up money to invest in your business.
19
Which of the following steps should I take to be prepared to invest and get my money growing?
Save toward an emergency fund of 6 months of your bills.
Start looking for a team of trusted advisors and mentors.
All.
Start learning about investing and potential investments.
20
If I do NOT have a written long-term financial plan, which of the following might I experience?
Running out of money after you retire, and having to work.
Having the freedom to live the lifestyle you want.
Both “A” and “B".
Being unable to afford fun activities you want to enjoy.
21
Choose the two best suggestions for building and maintaining a good credit rating.
Keep your debt low and pay your bills on time.
Have money in savings and protect against identity theft.
Make safe investments and set clear financial goals.
None.
22
What is the first thing I should do before searching for a job in my chosen career path?
Complete a clean, professional résumé
None.
Research jobs similar to what you enjoy and your strengths.
Earn a college degree.
23
What is networking?
None.
Meeting people you contact only when you need something.
Getting recommendations from former teachers and employers.
Building relationships with people within your work.
24
How do I begin the process of creating a long-term financial plan?
Start investing immediately.
Write down goals for your career, finances, and life.
Check your credit.
Open a savings account.
25
How can volunteering and supporting a nonprofit or cause I believe in benefit me?
It just helps others, which is a good thing.
Can improve your chances of getting into college and a job.
Makes you feel good while you build your skills and résumé.
Both answers “A” and “C”.
26
What first step should I take to automate my finances?
Open a checking and savings account.
Check your credit scores.
Graduate high school.
Write a budget.
27
How can automating my finances save me time, protect my credit, and earn me extra money?
Automating finances cannot protect credit or earn money.
Both “A” and “C"
Organizes your accounts so they can be reviewed and updated.
Reduces time on accounting, protects credit, earns interest.
28
Before I begin investing, what systems should I have in place?
Risk capital (money you can afford to lose).
All.
A trusted team of professionals who can give you advice.
Expert-level knowledge about any investment.
29
What steps can I take now to increase my chances of getting the job I want?
Network with others working in the field.
Build your skill set by doing volunteer work in your area.
Practice your job interviewing skills.
All.
30
Why should I develop a professional résumé and practice my interview skills?
So you can take the first job offer presented to you.
To save time and get the job you want.
To receive a salary at the upper end of the range.
Both “A” and “B”.

Real Game of Life Flashcards | StudBud