CM Chapter 1 Test

What association made borrowing money to attend college much easier than it had been?

• The Federal Student Approval Associatio

• The Student Federal Funding Association

• The Student Loan Marketing Association

• The Student Loan Approval Association

Your money personality impacts

• How you handle money

• Your financial literacy level

• Your understanding of bank transactions

• What you plan for as an adult

The best way to avoid running out of money is…

• Plan and set goals for your money

• Wake up early every morning to count your money

• Imagine yourself in a room full of money

• Make a lot of money

If you have a positive net worth, your liabilities total...

• more than your assets

• less than your assets

• the same as your assets

• twice as much as your assets

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.2

CCSS.HSA.CED.A.3

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

Banks got into the credit business before ______ because charging exceptionally high interest rates was legal.

• 1910

• 1920

• 1930

• 1940

Match the following Foundations

• Save a $500 Emergency Fund

• Foundation 5

• Build wealth and give

• Foundation 2

• Pay cash for your car

• Foundation 4

• Get out of debt and stay out of debt

• Foundation 3

• Pay cash for your college

• Foundation 1

Tags

CCSS.K.CC.A.3

CCSS.K.CC.B.4

CCSS.K.CC.B.5

CCSS.K.CC.C.6

CCSS.K.MD.B.3

Your net worth is your ________ minus your ________

• assets; liabilities

• liabilities; assets

• stocks; bonds

• paycheck; deductions

Tags

CCSS.HSA.SSE.A.1

Personal finance is...

• 20% head knowledge, 80% behavior

• 80% head knowledge, 20% behavior

• 50% head knowledge, 50% behavior

• 100% head knowledge 0% behavior

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

You can be ________________ if you don't have any debt.

• outrageously generous

• outrageously hard working

• married in one year

• divorced in one year

Your financial goals should be which of the following?

• specific and measurable

• time-sensitive and yours

• written down

• all of these together