Financial Literacy Chapter 1 Quiz Review

What does NOT affect a person’s well-being?

• Owning a big house

• Good Sleep

• Exercise

• Balanced Diet

Standard of living is the level of material necessities enjoyed or desired by an individual.

• True

• False

You are _____ more likely to achieve your goals if you write them on paper.

• 17%

• 25%

• 42%

• 65%

Which was not a type of goal we discussed:

• Professional

• Athletic

• Financial

• Personal

The SMART GOALS is an acronym for setting quality goals. The A________ stands for:

• Awesome

• Actionable

• Attainable

• Accurate

Which of these goals is specific?

• John will eat healthy

• John will exercise

• John will exercise for 30 minutes 4 times per week

• John will sleep more

In terms of the acronym SMART, what does it mean when a goal is measurable?

• You can meet the goal

• You can collect data on the goal

• Has a deadline

The average propensity to consume is defined as the necessities, comforts, and luxuries enjoyed or desired by an individual or family.

• True

• False

Utility describes the amount of satisfaction received from purchasing/utilizing goods or services.

• True

• False

Which of these are things that can influence your attitude about money? Check all that apply.

• Family

• Experience

• Media