Test Review Chapter 4: Personal Finance
What should you do if your budget does not balance?
All of These
Doing without an item you would like to buy now in order to save money for a long term goal is an example of ...
Delayed Gratification
The amount of money a person has to spend after needs are met is called ...
Discretionary Income
Which of the following is a common internet scam in which an email is sent posing as someone from your bank?
Phishing
Your net worth is computed as ...
Assets - Liabilities
Standards against which progress is measured in reaching goals are called ...
Benchmark
Which of the following would not be included in a persons listing of assets?
Car Loan
A ... contains personal and financial goals.
Financial Plan
A ... is a professional consultant who provides advice to help people develop plans to meet their financial goals.
Financial Planner
... includes money or other forms of value that people can use to acquire goods and services.
Financial Resource
... occurs when someone uses your personal information without your permission.
Identity Theft
Goals you wish to achieve in the next 2-5 years.
Intermediate
A personal net worth statement shows all of the following EXCEPT:
Net Cash Flow
Which of the following would be considered a fixed expense?
Rent
True or False
True: 4, 5, 7, 8, 9, 11, 15 False: 1, 2, 3, 6, 10, 12, 13, 14
A utility bill is an example of ...
Variable Expense
