Personal Finance Quiz

What is personal finance?

• The management of money and financial decisions for a person or family

• The study of economics and market trends

• The process of investing in stocks and bonds

• The act of saving money in a bank account

What are the three types of financial goals?

• Short-term, medium-term, long-term

• Immediate, delayed, future

• Basic, advanced, expert

• Simple, complex, intricate

What are the two types of money personalities?

• Saver and spender

• Investor and borrower

• Planner and procrastinator

• Earner and lender

What is the key to winning with money according to the study guide?

• Creating a budget

• Investing in stocks

• Saving all income

• Spending wisely

What are the four parts of a budget?

• Income, giving, saving, spending

• Earning, investing, saving, spending

• Income, expenses, savings, investments

• Earning, spending, saving, borrowing

What are the four types of expenses?

• Fixed, variable, intermittent, discretionary

• Necessary, optional, luxury, essential

• Basic, advanced, premium, deluxe

• Short-term, medium-term, long-term, immediate

What are the Four Walls mentioned in budgeting?

• Food, utilities, shelter, transportation

• Food, entertainment, clothing, travel

• Utilities, clothing, travel, savings

• Shelter, savings, entertainment, food

What does a cash-flow statement summarize?

• Future investments

• Money that comes in and goes out over a period of time

• Monthly savings

• Annual income

What percentage of Americans actually use a budget?

• 50%

• 75%

• 35%

• 90%

What is a FICO score?

• A measure of monthly income

• A three-digit number calculated using five components

• A type of savings account

• A budgeting method