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PersonalFinance-C10
PersonalFinance-C10
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Personal Finance - Test Review - Chapter 10 Money & Relationships
Flashcards
34 cards
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Practice quiz
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Questions
34
Answers
1
VOCAB A process by which information is exchanged between individuals
Communication
Telepathy
Shouting
Secret notes
2
VOCAB A situation in which a person is lacking time, which leads to stress
Conflicting schedule
Stress bomb
Time poverty
Tight schedule
3
VOCAB The quality or state of being responsible, liable or answerable
honesty
loser
accountability
old-fashioned
4
Communication with your parents about money helps you to become responsible with your money
False
True
5
A written plan gives the single person empowerment, self-accountability and control.
False
True
6
When communicating with your parents about money, you should:
Be honest
Communicate your wants, needs, and money goals
All of these
Be a good listener
7
Communicating with others about money is the other person hearing and following your wishes.
True
False
8
Which of the following statements regarding marriage and money is FALSE?
Managing finances in a marriage takes teamwork.
Agreeing on spending,means you also have the same values
Marriage partners are financially accountable to each other
Hiding a purchase from your spouse is ok, if you paid cash.
9
When married couples do not share goals and values in how they manage money, what can occur?
Stress
All of these
Conflict
Divorce
10
Agree or not with your parents money decisions, always respect and honor their decisions.
False
True
11
VOCAB A personʹs priorities, beliefs and standards that affect how he or she views the world
Prejudices
Goals
Personality
Value System
12
The number-one cause of divorce in America is?
The in-laws
Religious difference
Raising children
Money fights
13
Communication, teamwork and consistency are all important elements in handling family finances.
False
True
14
The flow of money in a family reveals this about the family's operations.
Security
Income Level
Sophistication
Value System
15
In a marriage, you are financially accountable to each other.
True
False
16
VOCAB A confidence and satisfaction in oneself
Self-esteem
Prideful
Community
Money Personality
17
It is easier to manage money when you are accountable to no one.
False
True
18
You should communicate your money goals with your parents and others close to you because:
They can provide financial support in case you make mistakes
They provide accountability and encouragement along the way
They can write your monthly budget
Your goals are your goals. There is no need to share them
19
If there are money fights in a marriage, money management is a way to improve the marriage.
False
True
20
For women, this is the most important key to financial security.
Job Promotion
Checking Account
Envelope system
Emergency Fund
21
When managing money, oneʹs value system is of no importance
False
True
22
What can be a challenge when managing money on your own as a young single adult?
Not keeping a written budget
Impulse buying due to lack of an accountability partner
Time poverty and fatigue
All of the above
23
Men tend to get good deals by:
Going to the mall
Finding Sales
Clipping Coupons
Negotiating
24
VOCAB A person who is picky about budgeting and details
Ms. Oleksa
Nerd
Free Spirit
Mr. Rodgers
25
VOCAB The state of being free from danger or threat
Jeopardy
Avoidance
Security
Insecurity
26
Since men and women are different, the financial decision maker in a marriage should be?
Both Spouses
The husband
The wife
They should each manage their own money
27
A great way for a young person to avoid making money mistakes is to:
Let a parent manage their finances
Seek advice from a trusted adult
It is unlikely that a young person will make money mistakes
Realize that mistakes are unavoidable
28
Discussing important financial matters with household members can reduce conflict
True
False
29
VOCAB Effort of cooperative and coordinated people acting together for a common goal
Gang
Troupe
Teamwork
Isolation
30
VOCAB The result of achievement toward which effort is directed
Award
Competition
Goal
Money
31
VOCAB A person who thinks that everything will work out fine and hates to deal with the details
An idiot
A free spirit
A nerd
A spender
32
Which of the following is
not
a rule for the ʺbudget committee meetingʺ?
Write a zero-based budget where every dollar has a purpose
The budget meeting continues until a complete budget is done
The Nerd should be the one to prepare the budget.
The decision making must be done by both people.
33
When it comes to communicating with others about money, you should NOT:
Pick the right time and place
Listen
Manipulate
Be Honest
34
If you value security, you are more likely to:
Save money
Spend money
Make Impulse buys
All of the above
