PFL Test 1

Personal Finance is __% head knowledge and __% behavior

Personal Finance is

The normal American family is broke

A car note is an example of ____

Which is NOT one of the 3 levels of Financial Well-being

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

The best way to manage money is to learn how to manage yourself

The legislative program that helped the middle class get mortgages is The New Deal

Why was credit uncommon prior to 1917?

Successful money management is ___% head knowledge and __% behavior

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

Knowing the language of money allows you to tell your money what to do

Which is NOT a principle of being Money Smart

A debt evidenced by a note specifying payment amount, interest rate, and payment date

The knowledge/skillset needed to be informed consumer & manage finances

I need to keep everything Ms. E gives me for my study guide

Consumerism in America today is caused by

Young people shouldn’t be concerned with money management because it won’t affect their financial future

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

Winning with money is complicated and requires extensive knowledge