'23 Benchmark Study Guide 1

What is Dave Ramsey's First Foundation of Personal Finance?

• Save Money

• Don't spend money

• $25 Emergency Fund

• $500 Emergency Fund

Answer explanation

Dave Ramsey's First Foundation of Personal Finance is to have a $500 Emergency Fund. This fund provides a safety net for unexpected expenses and helps avoid going into debt.

What percentage of families in America now have a negative net worth?

• 10%

• 25%

• 50%

• 75%

Answer explanation

The correct answer is 75%. This means that 75% of families in America now have a negative net worth.

What is the #1 reason people don't finish college?

• Too much partying

• College is too rigorous

• Financial Reasons

• Time Management

Answer explanation

The #1 reason people don't finish college is financial reasons.

Percentage of Americans living paycheck to paycheck.

• 70

• 20

• 50

• 40

Answer explanation

The correct answer is 70. This percentage represents the number of Americans who live paycheck to paycheck. It indicates a significant financial struggle for a large portion of the population.

What is an example that you can use the $500 Emergency Fund for?

• Groceries

• Car broke down

• Your friend needs $50

• Fortnite Skins

Answer explanation

The $500 Emergency Fund can be used for unexpected expenses like when your car breaks down.

What does it mean to reframe?

• Change your perspective on something

• Changing other people's perspective on something.

• Your influence on others

• Buying a new frame

Answer explanation

Reframing means changing your perspective on something. It involves looking at a situation from a different angle or with a different mindset.

What percentage of your message is perceived through body language?

• 50

• 55

• 65

• 75

Answer explanation

Body language accounts for approximately 55% of message perception, making it a crucial aspect of communication.

How long does it take to make a first impression in seconds?

• 2

• 22

• 3

• 30

Answer explanation

A first impression is made in 30 seconds. This is the correct choice.

How many additional POSITIVE encounters does it take to change a first impression?

• 2

• 20

• 3

• 30

Answer explanation

It takes 20 additional POSITIVE encounters to change a first impression.

What does it mean to think "Win-Win?"

• It means I get what I want, but other people are not happy.

• It means that we both get what we want.

• It means that I am not happy, but other people are happy.

• It means if I can't have it, neither can you.

Answer explanation

Thinking 'Win-Win' means that both parties involved get what they want, making it a mutually beneficial outcome.