when creating a financial future timeline, where should the end of the timeline be set?

Never – it is an ongoing process.

Which following statement about our interactions with money is NOT considered to be true?

Investment increases risk and reduces your ability to cope.

Erica wants her class project to reflect her values. Which items would be best to include?

Things that reflect her beliefs about what are important.

Which of the following factors is not influenced by values?

An individual’s life cycle position.

Which of the following would contribute the most to intellectual well‐being?

Taking on a new project at work.

Which of the following would contribute the most to financial well‐being?

Take a personal finance class to learn how to manage money.

Which of the following activities would contribute the most to well‐being?

An activity that makes you lose track of time.

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Unit 1 Test Review

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Review for Summative Evaluation Unit 1 Financial Well Being

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Questions 16

Answers

1
Saving $25 per month to purchase an mp3 player in six months. What type of goal is this?
This is not an example of a goal
Short‐term goal
Long‐term goal
Mid‐term goal
2
This symbol is from what band?
The Grateful Dead
Metallica
Pink Floyd
Molly Hatchet
3
when creating a financial future timeline, where should the end of the timeline be set?
Never – it is an ongoing process.
When he is 70‐years‐old.
When money management plan has established high well‐being.
When his financial goals have been established.
4
Which of the following is likely to have the least influence on an individual’s values?
Media
Grade average
Religious affiliations
Family
5
Which following statement about our interactions with money is NOT considered to be true?
Your present self impacts your future self.
Investment increases risk and reduces your ability to cope.
You are responsible for present self & future self.
You are better off in a community than by yourself.
6
Erica wants her class project to reflect her values. Which items would be best to include?
Things that reflect her beliefs about what are important.
Things that are essential for life and survival.
Things that are unnecessary but desired.
Things that she intends to accomplish in the near future.
7
Which of the following factors is not influenced by values?
An individual’s financial decisions.
An individual’s life cycle position.
An individual’s choice of friends.
An individual’s daily decisions.
8
Which of the following would contribute the most to intellectual well‐being?
Join a local service organization.
Take a vacation from work.
Go to the gym three times per week.
Taking on a new project at work.
9
Setting 3 academic goals for this semester are MOST LIKELY to be accomplished if:
You write the goals down.
You let friends set the goals.
You think about her goals weekly.
You discuss the goals with your parents.
10
“I will save $150 a month to go on a vacation in one year.” What part of the goal is missing?
Specific
Attainable
Measurable
Time Bound
11
Which of the following would contribute the most to financial well‐being?
Open another checking account to help organize money.
Take a personal finance class to learn how to manage money.
Pay back money borrowed to take a school trip last year.
Talk to friends about how to manage money better.
12
Putting $200 in savings a month for house down payment in five years. What type of goal?
Unrealistic
Long‐term
Short‐term
Intermediate
13
Which is not part of a SMART Goal
Specific
Attainable
Financial
Measurable
14
Which of the following activities would contribute the most to well‐being?
An activity friends like to participate in.
An activity that doesn’t cost much money.
An activity that makes you lose track of time.
An activity that a teacher suggests.
15
Ozzy will save $20 a month for 5 months for concert tickets that cost $100. This goal is:
Long Term Goal
Short Term Goal
16
Implementing a goal that takes 1 year or more is:
short term goal
long term goal

Unit 1 Test Review Flashcards | StudBud