Foundations Fall Final Ch. 1,2,3, 4, 11

Question 1

When it comes to personal finance, the math is easy, what's challenging is managing your:

Accepted Answer

Behavior

Question 2

You should save money for three basic reasons: emergency fund, purchases and wealth building.

Accepted Answer

True

Question 3

When it comes to mentoring, you should NOT:

Accepted Answer

Find and keep a single mentor

Question 4

The day that income tax filings are due in the United States:

Accepted Answer

April 15

Question 5

Which of the following account records would have the most current balance?

Accepted Answer

Your own account register

Question 6

Which of the following best explains why students should learn about personal finance?

Accepted Answer

Can Eliminate $ Mistakes & Promote $ benefits in future

Question 7

Co-signing a loan is a good way to help a friend or relative

Accepted Answer

False

Question 8

Preferred method of debt repayment:

Accepted Answer

Debt snowball

Question 9

A written budget, if followed, removes ________ from your finances.

Accepted Answer

All of the above

Question 10

Americans typically maintain a very high savings rate.

Accepted Answer

False

Question 11

The zero-based budget is the best method of budgeting because:

Accepted Answer

Ensures that every $ u make is assigned a specific purpose

Question 12

Personal financial success is primarily the result of:

Accepted Answer

Managing your money behavior

Question 13

Which of the following statements best explains why income alone does not determine wealth?

Accepted Answer

How much $a prsn makes does not dictat his spending n saving

Question 14

Which statements best describes how Americans are being outsmarted by banks and other lenders?

Accepted Answer

Credit is marketed so well that we dismiss int rates n fees

Question 15

You need to have a credit card to rent a car or check into a hotel

Accepted Answer

False

Question 16

The number-one cause of divorce in North America today is stress and disagreements over money.

Accepted Answer

True

Question 17

Which of the following is a consequence of overdrawing your checking account?

Accepted Answer

All of the above

Question 18

For which of the following should you save?

Accepted Answer

All of the above

Question 19

Which of the things cannot be done with a debit card but can be done with a credit card?

Accepted Answer

Go into debt

Question 20

A credit score is intended to measure:

Accepted Answer

The risk of your not repaying debt

Question 21

When applying for a job, you should:

Accepted Answer

All of the above

Question 22

At your age, a fully funded emergency fund should be:

Accepted Answer

$500

Question 23

Which of the following is not a credit myth?

Accepted Answer

Borrowing money can have serious consequences.

Question 24

Percentage of Americans living paycheck to paycheck:

Accepted Answer

70

Question 25

Which of the following are characteristics of an effective personal goal?

Accepted Answer

It should be measurable and specific.

Question 26

A card issued by a bank that allows users to finance a purchase

Accepted Answer

Credit card

Question 27

If you are a victim of identity theft,you are only responsible for paying back half of the debt

Accepted Answer

False

Question 28

You must establish credit in order to by a house

Accepted Answer

False

Question 29

A long term rental agreement on a car form secured a long term debt

Accepted Answer

Lease

Question 30

Which of the following steps is the First Foundation?

Accepted Answer

Save a $500 emergency fund

Foundations Fall Final Ch. 1,2,3, 4, 11

Questions 30

Foundations Fall Final Ch. 1,2,3, 4, 11

Questions 30