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WorksheetsPersonal Finance 1.03
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
Which is the "R" in SMART Goal?
a)
Realistic
b)
Required
2.
Which is the "M" in SMART Goal?
a)
Measurable
b)
Magnificent
3.
Kamryn's academic adviser has asked her to set 3 academic goals for this semester. These goals are MOST LIKELY to be accomplished if:
a)
Amber writes down her goals.
b)
Amber thinks about her goals weekly.
c)
Amber discusses her goals with her parents.
d)
Amber lets her friends set her goals.
4.
Kaylee will save her allowance of $25 per month to purchase a $150 mp3 player in six months. This is an example of what type of goal?
a)
Short-Term Goal
b)
This is not an example of a goal.
c)
Mid-Term Goal
d)
Long-Term Goal
5.
Which part of the SMART goal is missing? "Instead of signing up for cell phone plan, I will save that money to buy a new computer in one year. I will do this by saving $50 I would have spent on the cell phone bill every month."
a)
Attainable
b)
Time Bound
c)
Specific
d)
Measurable
6.
Changing your goal from "I will work out daily" to "I will work out for an hour daily" adds what part of SMART to your goal?
a)
Specific
b)
Attainable
c)
Measurable
d)
Realistic
7.
Adding a step-by-step plan to show how your goal will be reached creates a(n) __________ SMART Goal.
a)
Time-Bound
b)
Attainable
c)
Measurable
d)
Specific
8.
Something a person intends to acquire, achieve, or accomplish in the future
a)
Opportunity Cost
b)
Financial Planning
c)
Goal
d)
Trade-Off
9.
Which is the "A" in SMART Goal?
a)
Acquired
b)
Attainable
10.
Something a person intends to acquire, achieve, or accomplish that will be attained in LESS than one year
a)
Long-Term Goal
b)
Trade-Off
c)
Short-Term Goal
d)
Financial Planing
11.
Which is the "T" in SMART Goal?
a)
True
b)
Time Bound
12.
Which part of the SMART goal is missing? "I plan to save $1500 to buy a used car. I will do this by canceling my home cable service and saving that $75 each month instead."
a)
Attainable
b)
Realistic
c)
Measurable
d)
Time-Bound
13.
Which one is the "S" in SMART Goal?
a)
Spectacular
b)
Specific
14.
Which part of the SMART goal is missing? "I plan to save $2500 by automatically depositing $105 from my paycheck into a savings account each month for 2 years."
a)
Realistic
b)
Measurable
c)
Time bound
d)
Specific
15.
One element of a financial goal is missing in this example: "I will save $150 each month to go on a vacation in one year." Which one is it?
a)
Time-bound
b)
Specific
c)
Measurable
d)
Attainable
16.
Which part of the SMART goal requires you to think through the trade-offs and opportunity costs to analyze the consequences of your goal to make sure it isn't unattainable?
a)
Time bound
b)
Realistic
c)
Measurable
d)
Attainable
17.
Bobby and Betty, a recently married couple, set a goal of putting $350 in savings every month to make a down payment on a home in five years. What type of goal have they set?
a)
Unrealistic
b)
Short-Term Goal
c)
Intermediate
d)
Long-Term
18.
Something a person intends to acquire, achieve, or accomplish that will take longer than one year to attain
a)
Short-Term goal
b)
Financial Planning
c)
Long-Term Goal
d)
Trade-Off
19.
You have $50 to spend that is left over from your paycheck. You are trying to decide between filling up your gas tank or a pair of nice headphones. You choose to get gas. What was the opportunity cost of your decision?
a)
There was no opportunity cost.
b)
The headphones
c)
The $50 worth of gas.
d)
$50.00
20.
Which part of the SMART Goal requires you to clearly define your end result?
a)
Measurable
b)
Time-Bound
c)
Specific
d)
Realistic
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