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WorksheetsDave Ramsey
Total questions: 52
Worksheet time: 26mins
Name
Class
Date
1.
The first foundation
Save a $500 _____ fund.
Save a $500 _____ fund.
a)
Checkings
b)
Savings
c)
Emergency
d)
Spending
2.
Building wealth is a ________, not a sprint.
a)
Boat Race
b)
Foot Race
c)
Race
d)
Marathon
3.
The second foundation
Get out of _______.
Get out of _______.
a)
Debt
b)
A Hole
c)
The ditch
d)
Wealth
4.
Never invest purely for ______ ______.
a)
Money Savings
b)
Tax Savings
c)
Borrowing Money
d)
Money
5.
The third foundation
Pay _______ for your car.
Pay _______ for your car.
a)
Credit
b)
A loan
c)
Cash
6.
Never invest using _______ _______.
a)
Your Money
b)
Borrowed Money
7.
A CD is a?
a)
Color Display
b)
Call Data
c)
Concept Definition
d)
Certificate of Deposit
8.
The fourth foundation
Pay cash for _______.
Pay cash for _______.
a)
A lawn mower
b)
College
c)
A Bike
d)
A Loan
9.
A money market account is what type of bank savings account?
a)
A Low Risk Savings Account
b)
A High Risk Savings Account
c)
A Super High Risk Savings Account
d)
A Medium Risk Savings Account
10.
The fifth foundation
Build _____ and _____.
Build _____ and _____.
a)
Wealth and Take
b)
Wealth and Give
c)
Money and Borrow
d)
Loans and Take
11.
A qualified plan is a?
a)
Investment
b)
A Loan
c)
Tax-Favored Investment
12.
What is an annuity?
a)
A savings account sold by an insurance.
b)
Money held by a bank.
c)
Money stored in the bank for long term.
13.
You should have lots of ____ before using real estate as an investment.
a)
Houses
b)
Land
c)
Food
d)
Money
14.
A retirement savings plan offered by a corporation to its employees.
a)
403(b)
b)
457
c)
401(k)
d)
IRA
15.
Real Estate is the ____ liquid consumer investment.
a)
Least
b)
Most
c)
Neither
d)
All of the above
16.
What does IRA stand for?
a)
Inventory Record Accuracy
b)
Internal Revenue Allotment
c)
Import Risk Analysis
d)
individual retirement account
17.
Mutual Funds are good for ____ investments.
a)
Mid Term
b)
Long Term
c)
Short Term
18.
Save Money for Three Basic Reasons
a)
Emergency Fund, Purchases, Wealth Building
b)
Debt, Money, Savings
c)
Cars, Clothes, Shoes
19.
What do you save money for?
a)
More Money
b)
Wealth Building
c)
A Car
d)
A House
20.
Which of the following is NOT one of the 5 foundations of personal finance?
a)
Pay cash for your car
b)
Get out of debt
c)
Use 5 year financing to buy your car
d)
Build wealth and give
21.
Which of the following is a FIXED expense?
a)
Water Bill
b)
Car Payment
c)
Electric
d)
Food
22.
Which of the following is considered a FLEXIBLE expense?
a)
Rent
b)
Car Payment
c)
Electric Bill
23.
Interest earned on interest is known as:
a)
Simple Interest
b)
True Interest
c)
Compounded Interest
d)
Variable Interest
24.
How many credit card offers were mailed out last year?
a)
100
b)
1,000,000
c)
15,000,000
d)
6,000,000,000
25.
What is the yearly fee charged for having credit called?
a)
Annual Fee
b)
Credit Card
c)
Over the Limit Fee
d)
User Fee
26.
What percentage of people are living 'paycheck to paycheck' (before they get their next paycheck, they are struggling and almost out of money)?
a)
10%
b)
30%
c)
50%
d)
70%
27.
What was the first credit card?
a)
Diner's Club
b)
Visa
c)
Discover
d)
Chevrolet
28.
What is a late fee?
a)
A fee charged by a credit agency when you pay your bill late
b)
A fee that is charged late at night
c)
An amount charge for letting you borrow money
d)
A delicious coffee like beverage
29.
What is the range of a credit score?
a)
0 to 500
b)
0 to 1000
c)
100 to 200
d)
300 to 850
30.
In the Dave Ramsey video we just watched, who is Toby Cocker?
a)
Dave's client
b)
Man who invented credit cards
c)
Sears' CEO
d)
A guy's dog
31.
What is the difference between a credit card and a debit card?
a)
A debit card is subtracted from your checking account. A credit card is not attached to your checking account.
b)
A credit card is subtracted from your checking account. A debit card has a credit limit.
32.
The least amount that must be paid on a credit card each month is:
a)
Minimum Payment
b)
Late Fee
c)
Credit Limit
d)
money time
33.
How can a cardholder avoid paying interest on a credit card?
a)
Pay the balance in full every month
b)
Pay the minimum payment after its due date
c)
Do not pay anything
d)
Pay the minimum balance every month
34.
A credit report is a report showing a borrower's history of how well they paid their bills.
a)
True
b)
False
35.
___________ is a risk-management technique that mixes a wide variety of investments within a portfolio.
a)
Investing
b)
Diversification
c)
Risk Return Ratio
d)
Liquidity
36.
A money market account carries what type of risk?
a)
No risk
b)
Medium risk
c)
High risk
d)
Low risk
37.
Which one has the highest degree of risk?
a)
Bonds
b)
Single stocks
c)
Mutual funds
d)
Money markets
38.
Mutual funds are good short-term investments.
a)
True
b)
False
39.
Your return in bonds is the fluctuation of price and the interest rate paid.
a)
True
b)
False
40.
After five years, you can make tax free penalty free withdrawals of earnings under what conditions?
a)
Over 65 and half years old
b)
Because of death or disability
c)
Renting or leasing a home
41.
An annuity is a savings account sold by who?
a)
Commercial banks
b)
Insurance companies
c)
Retail banks
42.
Which of the following is a commodity?
a)
Dollar bills
b)
Debit/Credit cards
c)
Agricultural products
d)
Stocks
43.
Which of the following is not a common employee benefit?
a)
Day Care
b)
Savings plan
c)
Insurance
d)
Educational reimbursement
44.
Which of the following is a retirement savings plan offered by a corporation to its employees?
a)
403(b)
b)
401(k)
c)
457
d)
GIC
45.
What is the First Foundation?
a)
Get out of debt
b)
Pay cash for your car
c)
Build wealth and give
d)
Save a $500 emergency fund
46.
Debt can sometimes solve problems
a)
True
b)
False
47.
You should keep your emergency fund in the same savings account as your spending money.
a)
True
b)
False
48.
What is not a reason to save money?
a)
Emergency Fund
b)
Purchases
c)
NONE
d)
Wealth Building
49.
Always say yes to all wants and needs.
a)
True
b)
False
50.
Building wealth is a _______.
a)
Marathon
b)
Struggle
c)
Piece of cake
d)
Sprint
51.
When is the best time to start saving?
a)
Early 20s
b)
First Job
c)
Now
52.
An account that generates interest income on the available balance in the account.
a)
Interest-Bearing Account
b)
Merger Account
c)
Savings Account
d)
Checking Account
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