Personal Financial Planning Final Exam

Personal Financial Planning Final Exam

11th Grade

20 Qs

quiz-placeholder

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Personal Financial Planning Final Exam

Personal Financial Planning Final Exam

Assessment

Quiz

Life Skills

11th Grade

Easy

Created by

Evangelina Arriaga

Used 4+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 mins • 5 pts

What is the family life cycle?

A series of stages a family goes through over time

A financial plan for retirement

A method to calculate taxes

A type of savings account

2.

MULTIPLE CHOICE QUESTION

10 mins • 5 pts

What is budgeting?

A type of investment

A way to avoid paying taxes

A process of creating a plan to spend your money

A method to increase income

3.

MULTIPLE CHOICE QUESTION

10 mins • 5 pts

How are the family life cycle and budgeting related?

They both are unrelated to personal finance

They both focus on short-term financial goals

They both require constant updating due to changes in life stages

They both involve planning for vacations

4.

MULTIPLE CHOICE QUESTION

10 mins • 5 pts

What is a short-term financial goal?

Going on a vacation

Planning for retirement

Saving for a child's education

Buying a house

5.

MULTIPLE CHOICE QUESTION

10 mins • 5 pts

Which stage is NOT part of the family life cycle?

Couple, retired

Middle-aged, married with children

Older, single

Younger, single

6.

MULTIPLE CHOICE QUESTION

10 mins • 5 pts

What is the primary purpose of a budget?

To avoid paying bills

To increase debt

To track expenses and income

To eliminate all spending

7.

MULTIPLE CHOICE QUESTION

10 mins • 5 pts

What should you do if expenses exceed income?

Take a vacation

Increase spending

Cut down on unnecessary expenses

Ignore the problem

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