PFL-E Unit 3 Exam

_______ includes wages, salaries, commissions, tips, bonuses and self- employment income.

• Investment income
• Rental income
• Earned income
• Unearned income

_______ is an individual’s earnings after taxes and deductions have been applied.

• Gross income
• Net income
• Total income
• Adjusted income

Employers often offer _______, such as health insurance and retirement plans, in addition to a wage or salary.

• benefits
• vacations
• promotions
• bonuses

The _______ phase of financial management involves identifying goals, obstacles, and resources.

• planning
• execution
• monitoring
• controlling

Well-thought-out _______ can help you direct your dollars to those things you consider most important.

• Terms

• Thoughts

• Executions

• Goals

The five aspects of S.M.A.R.T. goals are that they are _______, measurable, achievable, relevant and time-based.

• Specific
• Simple
• Satisfactory
• Super

Examples of _______ include: Cash, Checks, Credit Cards, Debit Cards, Mobile Payment Apps and Electronic Transfers

• Financial Exchange

• Investment Options
• Loan Types
• Insurance Policies

A _______ can help you make smart decisions with your money and avoid problems like overspending, debt, or running out of money.

• budget
• credit card
• loan
• investment

Accurate financial records are integral for achieving personal spending goals.

• True

• False

The _______ flow statement goes beyond the budget to reflect actual money inflow and outflow for the month.

• cash
• income
• expense
• revenue