1st Practice Final Exam in Public Policy and Personal Finance

Front

According to IF YOU CAN, you should invest in how many mutual funds?

Back

Three

Front

According to IF YOU CAN: HOW MILLENNIALS CAN GET RICH SLOWLY, what is the most important word in the entire booklet?

Back

if

Front

What is described as the first hurdle people face when trying to save and invest for retirement on their own?

Back

Spending too much money

Front

What can be equated to learning the basics of finance according to the text?

Back

Learning to fly without grasping the basics of aerodynamics

Front

What is referred to as the 'biggest enemy' in managing long-term risks according to the text?

Back

The investor themselves

Front

According to the text, how do self-deluded monsters in the financial industry often appear?

Back

As friendly advisors

Front

Minimum percentage of salary to save for retirement (as mentioned in the text)?

Back

15%

Front

According to "The Millionaire Next Door," what is a common characteristic of millionaires mentioned in the text?

Back

They drive F-150 trucks.

Front

What does Bernstein imply about the relationship between spending habits and wealth accumulation?

Back

Inverse correlation between spending and saving.

Front

Why is a stock considered riskier than a bond?

Back

Stocks are more dependent on business success.