Dave Ramsey Final Exam Practice

The interest rate on a savings account determines . . .

What does living paycheck to paycheck mean

A long-term rental agreement on a car; a form of secured long-term debt.

. The best way to budget is...

Why is budgeting so important?

Pick 3 questions that you should ask yourself before you spend your emergency fund

Which of the following affects a credit score?

When is the right time to start creating and living by a budget?

An interest rate charged during the early stages of a loan; it goes up after a period of time.

Before you invest, you should make sure a mutual fund has done well for 5-10 years.

The first step in finding your dream job is ______

Commission is when you make money based on _______.

Your resume should NOT include ____

Your money personality impacts

Social Security benefits are meant to ________ your income.

While saving money isn't easy at first, it will make your life a lot _________ in the future if you make it a habit now.

What is the Third Foundation?

You can obtain a free copy of your credit report

The only place you should keep your emergency fund money is..

What is the First Foundation?

What is the 5th Foundation?

What is the 5th foundation

Diversification reduces your __________ by using a mix of investment types in your portfolio.

What factor/s would help get a mortgage without a credit score

If you're over the age of ___, you need a will.

Once you're out of school, have started your career, and have zero debt, your emergency fund should have _____________.

What is the envelope system?

You need to track everything that involves money (your bank account), including...

A loan where the collateral will be taken if a person defaults on the loan.

The very best investment you can make is in ___

______ is an example of a soft skill.

It's your responsibility to know about all of the ___ before choosing a bank

A person that starts his or her own business.

If you really want to save money, you've got to . . .

____________ is the process of figuring out how much money you'll need in retirement and creating a plan to get there.

How often should you create a budget?

The top three careers reported among millionaires were:

Roth IRA, 401(k), 403(b), 457, and Simplified Employee Pension are all examples of ______________.

Proximity Principle: In order 2 do what U want 2 do, U need 2 be _ people who are doing it & in __ where it‘s happening.

A loan based on a person's financial resources or ability to repay.

What is an example of putting the Proximity Principle into practice?

How many months does it usually take for one's budget to start working as a budget should?

When you set financial goals, they should be

Which of the following is NOT a component of a budget?

The average repayment period for a student loan making minimum payments is

To know your net worth, subtract your liablitlies from your

____________ is the process of figuring out how much money you'll need in retirement and creating a plan to get there.

If you're over the age of ___, you need a will.

A form of financial aid the does not need to be paid back based on need.

A form that all students complete to determine their eligibility for financial aid.

What is the key to failure?

Make sure your bank has plenty of _____ and _____.

______ is key when it comes to compound growth.

How do banks make money

The FDIC and NCUA keep your money n the bank insured up to ____ per account

The process of balancing your account means

What is the Third Foundation?

Mutual funds are less risky and can outperform the stock market because . . .