Duplicate of Foundations in Personal Finance Chapter 1

Question 1

What money personality is someone who has negative emotions about money

Accepted Answer

frustrated

Question 2

Which of the following is NOT a benefit of understanding your own money personality?

Accepted Answer

you can excuse excessive spending because it is part of you.

Question 3

Learning the language of money is not important because you can depend on financial planners

Accepted Answer

False

Question 4

all decisions and activities of a person or family regarding their $ (spending, saving, etc)

Accepted Answer

personal finance

Question 5

Most Americans avoid using credit when buying big-ticket items (car, furniture, home)

Accepted Answer

false

Question 6

Since you are a teenager, what you do now with money will have little effect on your future.

Accepted Answer

false

Question 7

the granting of a loan and the creation of debt; any form of deferred payment

Accepted Answer

credit

Question 8

a fee paid by a borrower to a lender for the use of the borrowed money

Accepted Answer

interest

Question 9

Key components of financial planning include all of the following except

Accepted Answer

Allow a financial planner to make all major money decisions

Question 10

Which of the following is not a factor in becoming money smart?

Accepted Answer

Learn how to read your credit card statements

Question 11

What are some of the mistakes Americans often make when it comes to money?

Accepted Answer

all of the above

Question 12

Having debt keeps you from building wealth.

Accepted Answer

true

Question 13

what money personality knows there is more to life than money?

Accepted Answer

money isn't everything

Question 14

Personal financial success is primarily the result of

Accepted Answer

Managing your money behavior

Question 15

Which of the following is a reason credit is marketed heavily to consumers in the USA?

Accepted Answer

All of the above

Question 16

a system by which goods and services are produced and distributed

Accepted Answer

economy

Question 17

Does managing your money well mean that you canʹt have fun with your money?

Accepted Answer

no

Question 18

how can marketing affect your decisions when it comes to spending money

Accepted Answer

A and B

Question 19

When it comes to personal finance, the math is easy. Whatʹs challenging is managing your...

Accepted Answer

Behavior

Question 20

the knowledge and skills necessary to be an informed consumer and manage finances effectively

Accepted Answer

financial literacy

Question 21

Which of the following best describes how Americans are being outsmarted by banks and lenders?

Accepted Answer

A and C

Question 22

True financial security is achieved when your money begins to generate an income-

Accepted Answer

true

Question 23

When it comes to managing money, success is about ________% knowledge and ________%behavior.

Accepted Answer

20, 80

Question 24

During the Great Depression, New Deal policymakers came up policies that convinced banks that

Accepted Answer

Consumer credit could be profitable

Question 25

person or organization that uses a product or service

Accepted Answer

consumer

Question 26

how did teen money attitudes change with the recession?

Accepted Answer

all of the above

Question 27

Expensive houses and new cars are a true indication of wealth.

Accepted Answer

false

Question 28

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

Accepted Answer

can eliminate financial mistakes and promote future benefits

Question 29

Which of the following is a consequence of spending more than you make?

Accepted Answer

All of the above

Question 30

The widespread financial insecurity of Americans is primarily because:

Accepted Answer

A and C

Question 31

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

Accepted Answer

The $ you make does not dictate spending/saving behavior

Question 32

Why was the use of credit uncommon prior to 1917?

Accepted Answer

All of the above.

Question 33

What percentage of Americans are living paycheck to paycheck?

Accepted Answer

70

Question 34

Which of the following is NOT a true statement?

Accepted Answer

The credit industry in America has not changed since 1917.

Question 35

The credit system today accommodates instability, using high interest rates and fees for profit

Accepted Answer

true

Question 36

Understanding your personal strengths and weaknesses when it comes to money will

Accepted Answer

A and B

Question 37

what money personality involves those who already have tips for saving and budgeting

Accepted Answer

pragmatic

Question 38

Everyone should have the same financial plan. A budget that works for one will be good for all

Accepted Answer

false

Question 39

A debt evidenced by a "note" specifying principle amount, interest rate, and date of repayment

Accepted Answer

loan

Question 40

Most Americans today are wealthy and will have financial security when they retire.

Accepted Answer

false

Question 41

What money personality involves criticizing those who you do not want to be like

Accepted Answer

role models

Duplicate of Foundations in Personal Finance Chapter 1

Questions 41

Duplicate of Foundations in Personal Finance Chapter 1

Questions 41