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WorksheetsFoundations in Finance Ch 1 Revi
Total questions: 10
Worksheet time: 8mins
Name
Class
Date
1.
Which statement is false
a)
Americans learned to borrow right after WWII when business was booming
b)
The credit industry is just like it was in 1917
c)
After 1970 people went spending crazy!
d)
Because lending money is good profit, banks are more willing to lend money.
2.
When it comes to personal finance the hard part is
a)
making enough money
b)
listening to your friends
c)
getting a good bank account
d)
changing your behavior
3.
Which is NOT a reason credit card companies try to get everyone to have credit.
a)
Being a credit company is super profitable.
b)
Americans want big ticket items
c)
Credit laws have relaxed so that people other than loan sharks can lend money.
d)
Using credit is not acceptable and is shameful.
4.
When it comes to winning with money its __% knowledge and __% behavior
a)
50% knowledge, 50% behavior
b)
60% knowledge, 40% behavior
c)
80% knowledge, 20% behavior
d)
20% knowledge, 80% behavior
5.
Which of these is NOT a factor in being smart with your money?
a)
Understanding basic math.
b)
Understanding the language of money.
c)
Managing your behavior.
d)
learning how to read your credit card statements.
6.
Why was credit so uncommon before the 1900's?
a)
Laws made it hard for banks to charge low interest rates.
b)
Borrowing money was acceptable.
c)
Lending was not profitable because they couldn't charge high interest rates.
d)
People didn't need as much stuff.
7.
Having stable finances is a result of
a)
winning the lottery
b)
managing your spending habits
c)
generous government programs like welfare
d)
inheriting a lot of money from your family
8.
Which statement BEST describes how banks and lenders take advantage of people
a)
They make credit so attractive and easy that we want it and don't care about consequences
b)
We are taught that money buys happiness.
c)
Buying things on credit is accepted by everyone.
d)
We want lots of STUFF.
9.
Your financial plan should include all of these EXCEPT
a)
Writing a detailed plan to get your goals
b)
Learning the truth versus the myths
c)
Allowing your financial planner to make all your decisions
d)
Regularly re-check your plan.
10.
Americans struggle with being financially secure because
a)
We don't make much money
b)
We don't save much money and we borrow too much
c)
There are no governmental programs to help people.
d)
We save a lot.
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