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Money Matters-- Chapter 1 Review

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9th - 12th Grade

Used 4+ times

Money Matters-- Chapter 1 Review
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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best explains why students should learn about personal finance?

Learning to manage money at this stage can eliminate financial mistakes and promote huge financial benefits for the future.
Personal finance skills are better learned through trial and error.
Personal finance skills are highly complex and require a great deal of time to learn.
Learning to manage money will help you achieve a profitable career.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Key components of financial planning include all of the following except:

Write out a detailed plan for accomplishing your goals
Replace money myths with money truths
Allow your financial planner to make all of your major money decisions
Regularly monitor and reassess your financial plan

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements best describes how Americans are being outsmarted by banks and other lenders?

Credit is marketed so well that we desire to have it while completely dismissing the fact that interest rates and fees continue to destroy our financial well-being.
We are taught that we can buy happiness.
Buying things on credit has become acceptable in our culture.
We are driven by consumerism.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Personal financial success is primarily the result of:

Managing your money behavior
Winning the lottery
Generous welfare and unemployment programs
Inheriting money from your parents

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements best explains why income alone does not determine wealth?

Investing is the only factor that contributes to wealth building.
Income alone does determine a personʹs wealth.
Only people who are natural savers can become wealthy.
How much money a person makes does not dictate his or her spending and saving behavior.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a consequence of spending more than you make?

Missed opportunity to save and invest
Stress
A cycle of debt
all of the answers are correct

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a true statement?

Americans learned to borrow amidst post-WWII prosperity.
The credit industry in America has not changed much since 1917.
After 1970, consumer debt skyrocketed
As banks made higher profits, they were willing to lend more money to consumers.

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