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Dave Ramsey Chapter 1 Post Test Exam Questions and Answers
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Dave Ramsey Chapter 1 Post Test Exam Questions and Answers
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Dave Ramsey Chapter 1 Post TestExam Questions and Answers
B. short term - -A _____ financial goal takes up to two years to reach.
A. five-level
B. short term
C. Medium-term
D. Long term
- B. keep managing your money as a priority - -As a single adult, you should
A. Never seek financial advice from others
B. keep managing your money as a priority
C. beware of planned and budgeted buying
D. Seek a financial counselor or advisor by age 25
- A. You can make it a habit to plan and set goals for your money - -What is
the best way to avoid running out of money too quickly
A. You can make it a habit to plan and set goals for your money
B. You can avoid making any purchases for the next 30 days
C. You can put your money in a safe place
D. You can invest in college
- A. To promote economic recovery and social reform - -Franklin D.
Roosevelt passed the New Deal because of the Great Depression in the
1930s. What was the purpose of this program?
A. To promote economic recovery and social reform
B. To create a borrowing system within the country
C. To divide the national budget in half and distribute it
- True - -T/F It is possible to pay for college with cash.
- C. Build wealth and give - -What is The Fifth Foundation?
A. Pay cash for your car
B. Get out and stay out of debt
C. Build wealth and give
- A. a personal financial action plan - -What are The Five Foundations?
A. a personal financial action plan
B. a financial literacy technique
C. a common conclusion for debt
- True - -T/F Avoiding debt can lead to financial freedom and hope.
, - A. The Student Loan Marketing Association (SLMA) - -In 1972, what
association made borrowing money to attend college much easier than it had
been?
A. The Student Loan Marketing Association (SLMA)
B. The Student Loan Association (SLAA)
C. The Federal Student Approval Association (FSAA)
- A. specific, measurable, time-sensitive, yours, and written - -When you set
financial goals, they should be . . .
A. specific, measurable, time-sensitive, yours, and written
B. Only time sensitive
C. Timely, bank-based, specific, and yours
- C. assets - -To know your net worth, subtract your liabilities from your
A. other liabilities
B. net income
C. assets
- A. Living paycheck to paycheck occurs when a person's income is devoted
to expenses, which means that little to no money is put in savings - -What
does living paycheck to paycheck mean?
A. Living paycheck to paycheck occurs when a person's income is devoted to
expenses, which means that little to no money is put in savings
B. hen a person chooses to not deposit their paycheck, they are living
paycheck to paycheck
C. Living paycheck to paycheck is an expression used to describe a situation
when someone eagerly awaits their next paycheck to plan for the month's
expenses
- D. earning, budgeting, saving, spending, and giving affect your money - -
Making the right choices with your money—managing your money—involves
knowing how . . .
A. consumer decisions will affect your accounts
B. planning, saving, spending, and investing will define your financial
portfolio
C. To make bank deposits using registers with the appropriate transactions
listed
D. earning, budgeting, saving, spending, and giving affect your money
- False - -T/F You are either only a natural saver or a natural spender. You
cannot have a balance of both.
- A. normal in american culture - -Using credit has not always been a
socially accepted practice, but it has become . . .
A. normal in american culture
B. a practice used by the wealthy
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