PF Test

Front

What type of people likes to plan for the future and are prepared for any type of financial situation?

Back

Security seekers

Front

What is considered to be a short-term financial goal?

Back

Saving for a family vacation

Front

What does the 'M' in the SMART goal setting acronym stand for?

Back

Measurable

Front

What is considered to be a long-term financial goal?

Back

Saving for a retirement fund

Front

How do you calculate net worth?

Back

Net worth = Total assets - Total liabilities

Front

If an individual has total assets of $120,000 and total liabilities of $80,000, what is their net worth?

Back

$40,000

Front

What is the definition of a financial goal?

Back

A financial goal is a specific objective that a person aims to achieve with their finances.

Front

What is the difference between short-term and long-term financial goals?

Back

Short-term goals are typically achieved within a year, while long-term goals take several years to achieve.

Front

What is an example of a long-term financial goal?

Back

Saving for a retirement fund.

Front

What is an example of a short-term financial goal?

Back

Saving for a family vacation.