Module 1 Money Management

Question 1

MISSING? I plan to save $2,000 for a new computer by saving my whole paycheck for 6 months.

Accepted Answer

realistic

Question 2

WHAT'S MISSING I plan to save for a new computer by saving $150 a month for one year.

Accepted Answer

measurable

Question 3

The purpose of goal setting in financial planning process is to

Accepted Answer

provide direction for plans and action

Question 4

Saving money for the holiday is an example for a long-term goal.

Accepted Answer

FALSE

Question 5

Which of the following is a need

Accepted Answer

a place to sleep

Question 6

WHATS MISSING I plan to save $2,500 by saving $105 a month for two years.

Accepted Answer

specific

Question 7

The trade-off made by making one choice instead of another is known as

Accepted Answer

opportunity cost

Question 8

After creating your financial plan you should never make any changes.

Accepted Answer

FALSE

Question 9

A value can be describes as

Accepted Answer

a belief or idea you consider important

Question 10

Spending, saving and investing to the kind of life you want and security can be achieved by

Accepted Answer

financial planning

Question 11

You should list alternative for major decisions and review the pros and cons.

Accepted Answer

TRUE

Question 12

An expensive new car is an example of a need.

Accepted Answer

FALSE

Question 13

Saving for vacation you are taking in 6 months is

Accepted Answer

an intermediate goal

Question 14

You need shelter, but you don't need a mansion.

Accepted Answer

TRUE

Question 15

WHAT'S MISSING I plan to save 5,000 for college in four years

Accepted Answer

Attainable

Question 16

In order to prepare a budget, you don't need to track your spending habits.

Accepted Answer

FALSE

Question 17

Each person has different values which guide them through life.

Accepted Answer

TRUE

Question 18

It isn't necessary to evaluate your results once you've made a decision.

Accepted Answer

FALSE

Question 19

Decisions made on a daily basis are called routine decisions.

Accepted Answer

TRUE

Question 20

An X-box gaming system is an example of a want.

Accepted Answer

TRUE

Question 21

Often a major decision leads to several smaller ones called

Accepted Answer

satellite decisions

Question 22

Financial plans that are more than five years off are called

Accepted Answer

long term goal

Question 23

Which of the following factors can influence decisions?

Accepted Answer

All of these

Question 24

Which of the following could not be called income?

Accepted Answer

interest paid on loan

Module 1 Money Management

Questions 24

Module 1 Money Management

Questions 24