Personal Financial Literacy Test Review

Front

The budgeting process starts with monitoring current spending

Back

false

Front

Most short-term goals are based on activities over the next 2 or 3 years

Back

false

Front

A common long-term goal may involve saving for college for parents of a newborn child.

Back

true

Front

Is rent considered a fixed expense?

Back

true

Front

Do flexible expenses stay about the same each month?

Back

False

Front

Is an electric bill commonly considered a fixed living expense?

Back

false

Front

A security deposit covers the rent for the first month when moving into an apartment.

Back

false

Front

A roommate may reduce the financial burden of renting an apartment.

Back

true

Front

Saving money for a down payment to buy a house is usually considered a short-term goal.

Back

false

Front

A lease is designed to protect the rights of both a tenant and landlord.

Back

true