Personal Finance: Objective 1 Financial Well-Being

Question 1

Which has the LEAST influence on individual values?

Accepted Answer

Grade Average

Question 2

What SMART goal is missing? "Instead of new cell phone plan, I will buy computer in one year."

Accepted Answer

Measurable

Question 3

Education, reading, Internet, and puzzles are all examples impacting which well-being domain?

Accepted Answer

Intellectual

Question 4

Which is NOT influenced by values?

Accepted Answer

Everything is influenced by values.

Question 5

Listening to music to improve your mood is an example of which well-being domain?

Accepted Answer

Emotional

Question 6

Which statement about money interaction is NOT true?

Accepted Answer

Investment increases risk and reduces your coping ability.

Question 7

Which action would contribute MOST to financial well-being?

Accepted Answer

Personal Finance Class

Question 8

Which situation represents a trade off?

Accepted Answer

Bought prom dress but now has no money for tires

Question 9

Which type of goal is achieved in less than a year?

Accepted Answer

Short Term Goal

Question 10

What is a fundamental belief about what is worthwhile and important to an individual?

Accepted Answer

Value

Question 11

Which would contribute the MOST to financial well-being?

Accepted Answer

Take a Personal Finance Class

Question 12

What is the value of the next best alternative that must be forgone as a result of a decision?

Accepted Answer

Opportunity Cost

Question 13

Which activity would MOST improve intellectual well-being?

Accepted Answer

New project at work

Question 14

What SMART goal is missing? "I will save $600 for college by spending $25 less on junk food."

Accepted Answer

Time-bound

Question 15

Which SMART goal is missing? "I will save $150 each month to go on a vacation in one year."

Accepted Answer

Attainable

Question 16

Food, shelter, gym, and doctor visits are all examples of activities impacting which domain?

Accepted Answer

Physical

Question 17

Shopping with friends is an example of which well-being domain?

Accepted Answer

Social

Question 18

When is the end of the financial planning process?

Accepted Answer

Never--ongoing process

Question 19

What is a desire for goods and services not necessary for survival?

Accepted Answer

Want

Questions 19