
Personal Finance Quiz 1 Midterm
Quiz
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Instructional Technology
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Professional Development
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Practice Problem
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Medium
Renz Hector
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best defines financial success?
Accumulating as much wealth as possible
Balancing financial goals with personal happiness
Earning a high income
Living a frugal lifestyle
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in achieving financial freedom?
Investing in the stock market
Creating a financial plan
Eliminating all debt
Setting financial goals
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT considered a building block for financial success?
Proper budgeting
Adequate insurance coverage
Winning the lottery
Strategic investments
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The financial planning process begins with:
Developing a plan of action
Evaluating current finances
Setting measurable financial goals
Monitoring and reassessing the plan
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key characteristic of financial happiness?
Avoiding all forms of debt
Living below your means
Aligning spending with personal values
Having multiple income sources
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Financial values primarily influence:
Investment decisions
Spending and saving habits
Tax obligations
Employment choices
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
SMART goals in financial planning refer to goals that are:
Simple, Measurable, Achievable, Realistic, Time-bound
Specific, Manageable, Accurate, Reliable, Timely
Specific, Measurable, Achievable, Relevant, Time-bound
Strategic, Meaningful, Attainable, Rational, Targeted
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