1.00 Prime Time Quiz

Whitney is shopping with her mom and they are deciding on clothing to purchase. Which scenario best represents the purchase of a need?

• Whitney found jeans that really fit her well while shopping. Her mom feels they need to purchase a pair.

• Whitney has been selected to attend a national leadership conference and will need to dress ‘professionally’ for one of the tours. She plans to wear jeans and a T-shirt, but her mother thinks she needs to purchase something more appropriate.

Megan’s mother suggested that she was experiencing the consequences of her trade-off regarding a decision she made to purchase a dress for prom. Which situation does Megan most likely find herself in?

• Megan found the prom dress of her dreams and purchased it. She used the money she had saved for the prom dress plus most of the money she had saved for replacing the tires on her car. Now the tires need replacing and Megan is short on the cash needed to do the job.

• Megan had shopped in several stores and found six prom dresses she liked a lot. She brought 2 friends shopping with her to tell her which one looked best on her. After much deliberation, she chose the dress that was the least expensive of the 3 she liked best.

Which of the following is likely to have the least influence on an individual’s values?

• Family

• Grade average

• Religion

One element of a financial goal is missing in this example. “I will save $150 each month to go on a vacation in one year.” Which one is it?

• Measurable

• Specific

• Attainable

Kaylee will save her allowance of $25 per month to purchase a $150 MP3 player in six months. This is an example of what type of goal?

• Short‐term goal

• Long‐term goal

Jenna wants to improve her financial well-being. Which would contribute the most to her financial well-being?

• Talking to her friends about how to manage her money better

• Taking a personal finance class to learn how to manage her money

Jacob is wondering how he can improve his intellectual well-being. Which would contribute the most to his intellectual well-being?

• Going to the gym three times per week

• Challenging himself by taking on a new project at work

Sylas is studying financial planning in one of his classes. His teacher has assigned him to create a timeline of his financial future. Where should the end of his financial planning timeline be set?

• Never – it is an ongoing process

• When his money management plan has established high well-being

Amber’s academic adviser has asked her to set 3 academic

goals for this semester. These goals are most likely to be

accomplished if:

• Amber lets her friends set her goals

• Amber writes her goals down.

Carter wants to participate in an activity that will improve his well-being. Which activity would contribute the most to his well-being?

• An activity that makes him lose track of time

• An activity that does not cost much money