Exam (elaborations)
CSM 204 Module 1 Questions with Correct Answers
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Exam of 6 pages for the course Certified Scrum Master at Certified Scrum Master (CSM 204 Module 1)
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CSM 204 Module 1Adult Life Cycle - answer the stages in the family and financial needs of an adult
Values - answer ideas and principles that a person considers correct, desirable, and
important
Personal Financial Planning - answer the process of managing your money to achieve
personal economic satisfaction
Bankruptcy - answer the legal status of a person who is not able to pay debts owed
Economics - answer the study of how wealth is created and distributed
Financial Plan - answer a formalized report that summarizes your current financial
situation, analyzes your financial needs, and recommends future financial activities
Future Value - answer the amount to which current savings will increase based on a
certain interest rate and a certain time period
Inflation - answer a rise in the general level of prices
Liquidity - answerthe ability to readily convert financial resources into cash without a
loss in value
Opportunity Cost - answerwhat you give up by making choices
Present Value - answerthe current value for a future amount based on a certain time
period
Time Value of Money - answerincreases in an amount of money as a result of interest
earned
Cafeteria style employee benefits - answerprograms that allow workers to base their job
benefits on a credit system and personal needs
Job - answeran employment position obtained mainly to earn money, without regard for
interests or opportunities for advancement
Career - answera commitment to a profession that requires continued training and
offers a clear path for occupation growth.
, Resume - answera summary of a persons education, training, experience, & other job
qualifications
Cover Letter - answera letter that accompanies a resume and is designed to express
interest in a job and obtaining an interview
Informational Interview - answera company visit or meeting at which one gathers
information about a career or an organization
Job Creation - answerthe development of an employment position that matches your
skills with the needs of an organization
Mentor - answeran experienced employee who serves as a teacher and counselor for a
less experienced person in a career field
Networking - answerthe process of making and using contacts for obtaining and
updating career information
Money Management - answerthe day-to-day financial activities necessary to manage
current personal economic resources while working toward long-term financial security
Safe Deposit Box - answera private storage area @ a financial institution w/maximum
security for valuables
Balance Sheet - answera financial statement that reports what you own or what you
owe (net worth statement)
Assets - answercash & other tangible property with a monetary value
Liabilities - answeramounts owed to others
Liquid Assets - answercash & items of value that can easily be converted to cash
Current Liabilities - answerdebts that must be paid in a short time, usually less than a
year
Long-term Liabilities - answerdebts that aren't required to be paid in full until more than
a year from now
Net Worth - answerthe difference between total assets and total liabilities
Insolvency - answerthe inability to pay debts when they are due because liabilities far
exceed the value of assets
Cash Flow - answerthe actual inflow & outflow of cash during a given period
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