Personal Finance Final Review Part 1

Front

Personal Finance can be defined as knowing how to manage your money.

Back

True

Front

Creating a budget ensures you will not overspend?

Back

True

Front

A mortgage is a loan that is used to secure financing for the purchase of a house.

Back

True

Front

Variable expenses may differ in amount every period?

Back

True

Front

The document that gives a person's credit history and current credit status is called a credit score.

Back

False

Front

The first thing you should save for is your retirement fund.

Back

False

Front

Murphy's Law states anything that can go wrong, will go wrong.

Back

True

Front

Short term disability can cover up to five years of pay if you've been hurt.

Back

False

Front

In personal finance, liquidity means how valuable an asset is (the higher the liquidity, the greater the value).

Back

False

Front

A person's age can affect their credit score.

Back

False