Final Exam Review (Part 4))

Front

What does Kai mean by making a budget and using his values to decide how to use his money?

Back

Kai identified what is important to him and used that knowledge to decide how to use his money.

Front

Michael is preparing for a big presentation at work. He notices that he tends to favor information that supports his initial idea, ignoring data that contradicts it. Which of the following is TRUE about cognitive biases in this scenario?
Options:
It is easy to recognize when cognitive biases are influencing our own decisions,
There is rarely anything you can do to combat a cognitive bias’ influence,
There are only a handful of cognitive biases that exist,
Awareness is often the first step to overcoming the influence of a cognitive bias.

Back

Awareness is often the first step to overcoming the influence of a cognitive bias.

Front

All of the following are things Mina can do to overcome cognitive biases when deciding whether to use a new fitness app EXCEPT...
Take time to reflect and identify why she is so eager to use the app
Watch a positive video about the app, download the app, and start using it that day
Ask people outside her friend group for their opinions and perspectives
Seek out reviews that talk about the disadvantages of using the app

Back

Watch a positive video about the app, download the app, and start using it that day

Front

Anika often finds herself making decisions based on her initial impressions, even when presented with new information. This is an example of...

Back

An error in the way we think that can influence our decisions

Front

Abigail is planning her monthly budget. Which list below portrays her expense categories in the most responsible order?
All of your needs, high priority wants, low priority wants, savings
All of your needs, savings, high priority wants, low priority wants
All of your needs, high priority wants, savings, low priority wants
Savings, high priority wants, low priority wants, all of your needs

Back

All of your needs, savings, high priority wants, low priority wants

Front

Liam is reviewing his paycheck. Which of the following situations is an example of net pay? Brian multiplies his hourly wage by his total hours worked, Chrissy multiplies their hourly wage by their total hours worked and subtracts taxes, Timothy multiplies his hourly wage by his total hours worked then subtracts taxes and deductions, Helene multiplies her hourly wage by her total hours worked then subtracts taxes, deductions, and budgeted needs.

Back

Timothy multiplies his hourly wage by his total hours worked then subtracts taxes and deductions.

Front

Which of the following is a recurring expense? Graduation present for your sister, A large car repair bill, A concert ticket, Daily Starbucks latte

Back

Daily Starbucks latte

Front

What is the purpose of an apartment lease?

Back

It outlines the amount of rent you'll pay, when it is due, and key obligations and rights of living in the property.

Front

Ava and Aiden are considering whether to rent or buy a home. They decide to rent because...

Back

They're graduating with a lot of student debt they must pay off, so it takes longer to save a down payment

Front

Avery and Evelyn are discussing why their generation is buying fewer homes compared to previous ones. They mention several reasons EXCEPT...

Back

They find apartments to be trendier and more fun.