What is the family life cycle?
Personal Financial Planning Final Exam

Quiz
•
Life Skills
•
11th Grade
•
Easy
Evangelina Arriaga
Used 4+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 mins • 5 pts
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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