Personal finance mod 1
about what percent of americans have no emergency fund?
25%, 1 in 4
With an inflation rate of 9 percent, prices would double in about ___________ years.
8
which one of the following is a professional association that can assist in career planning for a specific career area?
American Marketing Association
the Fed refers to:
Federal Reserve System
a personal balance sheet presents:
Items owned and amounts owed
Compared to a job, a career:
Requires continued training.
The stages in the family and financial needs of an adult are called the:
adult life cycle
Natural abilities that people possess are called
aptitudes
mathematical abilities, problem-solving skills, and physical dexterity are examples of:
aptitudes
who is most likely to benefit from inflation?
borrowers
which one of the following is defined as a commitment to a profession that requires continued training and offers a clear path or occupational growth?
career
an example of a liquid asset is
cash value of life insurance
career opportunities are based on which social influence:
demographic trends
the Occupational Outlook Handbook would be most useful for determining:
detailed information on various career clusters
in the career planning and advancement process, after identifying specific job opportunities, a person should:
develop a resume and cover letter
changes in the demand for goods and services are an example of ________ influence on the job market.
economic
The study of how wealth is created and distributed is
economics
common long term liabilities include:
educational loans
when it comes to savings, most americans:
find saving difficult
which of the following economic conditions can affect career opportunities?
high interest rates, decreased global demand for goods and services, price increase, all of these.
increased consumer spending will usually cause:
higher employment levels
Higher consumer prices are likely to be accompanied by
higher interest rates
The final step of the career planning process is to:
implement a program for career development
higher prices are likely to result from:
increased demand by consumers without increased supply
which of the following is an example of an industry trend that could affect the job market?
increased use of computers in manufacturing
the main economic influence that causes inflation is:
increases in demand without increases in supply
which of the following would increase the risk of a loan to the lender
inflation rate greater than loan rate
a ________ is an employment position that is obtained mainly to earn money.
job
Some savings and investment choices have the potential for higher earnings. However, these may also be difficult to convert to cash when you need the funds. This problem refers to:
liquidity risk
one of the main purposes of a budget includes:
live within your income
higher interest rates can be caused by:
lower money supply
the main responsibility of the Fed is to:
maintain an adequate supply of money
The main goal of personal financial planning is
managing your money to achieve personal economic satisfaction
you may identify a satisfying career using guidance tests that:
measure your interests, abilities, and personal qualities
Bill Evans is concerned about the effect of current economic conditions on various career fields. Which one of the following would be most useful to Bill as he addresses his concerns?
newspaper and tv
A decrease in net worth could be the result of:
outflows exceeding inflows for a month
which of the following can be minimized through budgeting?
overusing credit, failing to ensure future financial security, lacking a regular savings program.
a common deduction from a person's paycheck is for:
taxes
The risk premium you receive as a saver is based in part on:
the uncertainty associated with getting your money back and the expected rate of inflation