Personal Finance Final Review

Front

Jenna is wondering how she can improve her financial well-being. Which of the following would contribute the most to her financial well-being?
- Take a personal finance class to learn how to manage her money.
- Pay her grandma back the money she borrowed to take a school trip last year.
- Talk to her friends about how to manage her money better.
- Open another checking account to help her organize her money.

Back

Take a personal finance class to learn how to manage her money.

Front

Megan experienced a trade-off regarding her decision to purchase a new dress for a school dance. Which situation best represents a trade-off?

Back

Megan found a dress she loved. She has the money to pay for it but she also needs to replace the tires on her car. She does not have the money for both.

Front

Amber's academic advisor has asked her to set 3 academic goals for this semester. These goals are MOST LIKELY to be accomplished if: Amber writes her goals down and sets a plan and timeline for them

Back

Amber writes her goals down and sets a plan and timeline for them

Front

To increase his net worth, Jackson could… Increase his liabilities, Decrease his assets, Increase his market value, Increase his assets

Back

Increase his assets

Front

Which aspect of security at a depository institution is NOT true?

Back

Depository institutions have insurance protection. Depositors can have multiple accounts insured at the same institution as long as each account has no more than $100,000.

Front

Amanda and Marcus just finished their income and expense statement for last month. They discovered that they have a net gain. What does this mean and what should they do?

Back

Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it on other expenses.

Front

Which group of expenses best fit the category of non-contractual expenses?
Cell phone bill, gasoline, and car payment
Internet bill, entertainment, and clothing
Motorcycle payment, food, and cell phone bill
Gasoline, food, and entertainment

Back

Gasoline, food, and entertainment

Front

Michael wants to develop a spending plan for himself to use during his final year of high school. What will he need to do as his FIRST step?

Back

Track his current income and expenses. If he has already created an income and expense statement then he has completed this step.

Front

Eric is writing a paper on the importance of investing in yourself and he is trying to add a key idea. Which of the following would be the best choice? Education pays in higher earnings and lower unemployment rates.

Back

Education pays in higher earnings and lower unemployment rates.

Front

Lora is a high-school computer teacher. She enrolls in a computer class at least twice a year to stay current on recent technology changes and updates. By continuing her education, Lora is investing in her…

Back

Human capital