
PFL Quiz 1: Chapter 1
Authored by SAMARA VAIL
Financial Education
12th Grade
Used 16+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Personal finance is all the financial decisions an individual or family
must make in order to earn, budget, save, spend, and give money over time.
True
False
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A person or organization that uses a product or service.
Accountant
Economist
Consumer
Financial Advisor
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Debt is....
Money owed to you.
Money owed to another person or company.
Money in your savings account.
good to have.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit is the granting of a loan and the creation of debt;
any form of deferred payment.
False
True
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Prior to 1920, the only way for banks to make money by loaning money was to charge sky-high ________.
credit
debt
interest rates
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the additional cost a lender charges for borrowing their money called?
assets
interest
dividends
fees
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Net worth is the .....
amount by which the value of a person's assets exceeds or falls behind the value of their liabilities.
financial debt or obligations
anything owned by an individual
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