Exam (elaborations)
Personal Finance Building your Future By Robert Walker - Test Bank
- Module
- Personal Finance
- Institution
- Personal Finance
Personal Finance Building your Future By Robert Walker - Test Bank
[Show more]
Content preview
,Personal Finance, 2e (Walker)Chapter 1 Money Matters: Values, Vision, Mission, and You
1) Identify the importance of a financial plan.
A) You may discover your passion and a sense of purpose in your life.
B) You establish priorities in your life.
C) You gain control over your time and your money.
D) All of the options are correct.
Answer: D
Difficulty: 1 Easy
Topic: Financial plan development
Learning Objective: 01-01 Evaluate your spending and saving habits and define what financial
success means to you.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
2) The rule for allocating your money that takes into account community responsibility and
retirement is called the ________ rule.
A) 90-5-5
B) 82-8-10
C) 60-20-20
D) 80-10-10
Answer: D
Difficulty: 1 Easy
Topic: Personal values
Learning Objective: 01-01 Evaluate your spending and saving habits and define what financial
success means to you.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
1
Copyright © 2018 McGraw-Hill
,3) Which term best describes Ben Franklin's adage: "Waste not, want not."?
A) Greedy
B) Envious
C) Cheap
D) Frugal
Answer: D
Difficulty: 1 Easy
Topic: Personal values
Learning Objective: 01-01 Evaluate your spending and saving habits and define what financial
success means to you.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
4) Which of the following plans is not incorporated in a financial plan?
A) Budget plan
B) Investment plan
C) Estate plan
D) Education plan
Answer: D
Difficulty: 1 Easy
Topic: Components of financial planning
Learning Objective: 01-01 Evaluate your spending and saving habits and define what financial
success means to you.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
5) To be frugal includes all of the following except
A) being resourceful when satisfying your need for goods and services.
B) buying all the things you want.
C) using already-owned items.
D) practicing restraint in how you consume goods and services.
Answer: B
Difficulty: 1 Easy
Topic: Personal values
Learning Objective: 01-01 Evaluate your spending and saving habits and define what financial
success means to you.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
2
Copyright © 2018 McGraw-Hill
, 6) All the following are examples of being frugal except
A) using coupons.
B) spending 100% of your paycheck.
C) shopping for gently-used items on Craigslist.
D) buying items you need of value.
Answer: B
Difficulty: 3 Hard
Topic: Personal values
Learning Objective: 01-01 Evaluate your spending and saving habits and define what financial
success means to you.
Bloom's: Apply
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
7) Money personality is
A) the point at which spending more money has a diminishing rate of fulfillment.
B) sufficient means to support oneself.
C) your style and habits of money management.
D) income from your investments.
Answer: C
Difficulty: 1 Easy
Topic: Personal values
Learning Objective: 01-01 Evaluate your spending and saving habits and define what financial
success means to you.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
8) Which is not an example of being frugal?
A) Buying a used car
B) Hiring someone to paint your living room
C) Buying the things you need
D) All of the options are correct.
Answer: B
Difficulty: 3 Hard
Topic: Personal values
Learning Objective: 01-01 Evaluate your spending and saving habits and define what financial
success means to you.
Bloom's: Apply
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
3
Copyright © 2018 McGraw-Hill
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller evileye251. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £20.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73314 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now
