PF- Quiz 1
The most important financial planning for young people concerns a. career. b. insurance. c. investment. d. taxes. e. retirement.
a. career.
Money is a. the reason for all transactions. b. a medium of exchange. c. the purpose of our economy. d. a medium of consumption. e. a measure of propensity to consume.
b. a medium of exchange.
The amount of money we set aside for future consumption will be determined by a. our level of current wealth. b. how much we currently earn and spend. c. our education level. d. the current needs of our family. e. the cost of life's necessities.
b. how much we currently earn and spend.
Financial planning can help us to a. control inflation. b. spend wisely. c. control unemployment rates. d. a and b. e. a, b, and c.
b. spend wisely.
Financial goals should be a. specific. b. attainable. c. prioritized. d. all of these e. none of these
d. all of these
Your income is directly related to your a. geographic location. b. age. c. education. d. all of these e. none of these
d. all of these
The main reason to do personal financial planning is to a. minimize overall costs. b. minimize overall utility. c. assign monetary value to consumption. d. maximize overall utility. e. stabilize overall utility.
d. maximize overall utility.
The last step in the financial planning process is to a. develop financial plans and strategies to achieve goals. b. use financial statements to evaluate results of plans and budgets, taking corrective action as required. c, implement financial plans and strategies. d. redefine goals and revise plans and strategies as personal circumstances change e. periodically develop and implement budgets to monitor and control progress toward goals.
d. redefine goals and revise plans and strategies as personal circumstances change
Employee benefits may include a. retirement plans b. health insurance c. employee discounts d. tuition reimbursements e. all of the above
e. all of the above
The four stages of an economic cycle would not include a. depression. b. expansion. c. recession. d. recovery. e. stagnation.
e. stagnation.
