Quiz 1 Personal Finance

Which is the "R" in SMART Goal?

• Realistic
• Required

Which is the "M" in SMART Goal?

• Measurable
• Magnificent

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
• This is not an example of a goal.
• Mid-Term Goal
• Long-Term Goal

Something a person intends to acquire, achieve, or accomplish in the future

• Opportunity Cost
• Financial Planning
• Goal
• Trade-Off

Which is the "A" in SMART Goal?

• Acquired
• Attainable

Something a person intends to acquire, achieve, or accomplish that will be attained in LESS than one year

• Long-Term Goal
• Trade-Off
• Short-Term Goal
• Financial Planing

Which is the "T" in SMART Goal?

• True
• Time Bound

Which part of the SMART goal is missing? "I plan to save $1500 to buy a used car. I will do this by canceling my home cable service and saving that $75 each month instead."

• Attainable
• Realistic
• Measurable
• Time-Bound

Which one is the "S" in SMART Goal?

• Spectacular
• Specific

Bobby and Betty, a recently married couple, set a goal of putting $350 in savings every month to make a down payment on a home in five years. What type of goal have they set?

• Unrealistic
• Short-Term Goal
• Intermediate
• Long-Term