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Personal Finance Final Review-Dave Ramsey Flashcards | StudBud
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Personal Finance Final Review-Dave Ramsey
Personal Finance Final Review-Dave Ramsey
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A #personal #finance #review based on #DaveRamsey's #FoundationsinPersonalFinance
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Which statement is true about liquidity?
The more liquid the investment, the less the return
The more liquid the investment, the greater the return
The less liquid the investment, the less the return
Both a and b
2
Wealth-building habits include all of the following except
Replacing ugly, outdated appliance with newer ones
Living on less than you make
Writing a monthly budget
Paying yourself first by saving and investing
3
A piece of ownership in a company
Mutual fund
Share of stock
IRA
Risk
4
When it comes to managing money, success is about ___% behavior and it is ____% head knowledge.
80, 20
20, 80
60, 40
50, 50
5
Responsible banking includes all of the following except
Overdraft protection using your bank-issued credit card
Reconciling your checking account each month
Keeping accurate records
Balancing your checking account regularly
6
Refers to financial opportunity given up when choosing to do something else with your money
Branding
Buyer's remorse
Opportunity cost
Caveat emptor
7
All of the decisions & activities of an individual or family regarding their money.
Personal finance
Economy
Interest
Consumerism
8
The zero-based _________gives every dollar a name on paper, on purpose, before the month begins
Loan
Bank statement
Budget
Income
9
A measure of an individual's credit risk; calculated from a credit report.
Credit disclosure
Loan term
Credit score
Depreciation
10
Federal insurance program that provides benefits to people who are retired.
Earned income program
Income tax
Social Security
Excise tax
11
This type of expense changes every month.
Fixed expense
Discretionary expense
Intermittent expense
Variable expense
12
The knowledge and skill set necessary to be an informed consumer & manage finances effectively.
Financial literacy
Consumer finance
Consumer industry
Marketing
13
A life insurance policy that covers a specific period of time
Level
Universal
Term
Whole life
14
Which of the following is a good investment option?
Mutual funds
Futures
Gold
Single Stocks
15
The offer of "easy financing" is often used by companies as a
Marketing tool
Form of brand recognition
Way to serve you better
Form of personal selling
16
It is important to do this analysis when considering raising your deductible.
Liability
Break-even
Out-of-pocket
Claim
17
Unfortunately, statistics show that most Americans
Live paycheck to paycheck
Pay cash for large purchases
Save more than enough for retirement
Avoid using credit cards
18
One way in which you lose financially when buying a new car is
Your first two oil changes are free
Your friends buy fancier and newer rides of their own
That new car smell
Depreciation when you leave the lot
19
Life insurance provides monetary payout to whom?
Premium members
Claim recipients
Mutual funds
Beneficiaries
20
Which statement is true about diversification when it comes to investing?
Diversification means that your investments are complex
Diversification increases risk
Diversification lowers risk
Diversification guarantees zero risk
