Assessment 3 Budgets, Borrowing & Savings and Invest 10/24/24

Marcus is considering investing in different types of assets. __________ refers to land, as well as any physical property affixed to the land.

• Real estate

• Stocks and bonds

• Precious metals

• Mutual fund

Which of the following is an expense which stays relatively the same from month to month, such as a car payment or rent?

• Fixed expense

• Estimated expense

• Equity expenses

• Variable expense

__________ is an example of a variable expense.

• Car payment

• Electricity

• Entertainment

• Rent

Tiffany loves going out with her friends and often buys gifts for them. She prefers spending her money on experiences and things she enjoys rather than saving it. Which of the following money personalities best describes Tiffany?

• Saver

• Flyer

• Spender

• Security seeker

__________ is a personal asset.

• Rent

• Cash

• Credit card balance

• Mortgage

__________ is the first step an individual should take when creating a financial plan.

• Determining the financial situation

• Setting long-term goals

• Consulting a financial advisor

• Investing in stocks

Which of the following is the last step in creating a personal financial plan?

• Revising the plan

• Creating financial goals

• Balancing income and expenses

• Implementing the budget

The Maisel family is creating a monthly family budget. Joel earns $4,000 every month from his job as a lawyer. Miriam earns $250 a week at her retail job. What is the Maisel family's monthly income?

• $5,000

• $4,000

• $3,750

• $4,250

__________ is an example of a variable expense.

• Entertainment

• Rent

• Insurance

• Mortgage

Which of the following is not an asset?

• Cash

• Utilities

• Automobiles

• Stock and bonds