Worksheetsfinal exam review travis riba
Total questions: 25
Worksheet time: 13mins
Name
Class
Date
1.
which of the following factors is not influenced by values?
a)
individuals choice of friends
b)
individuals daily decisions
c)
individuals life cycle position
d)
individuals financial decisions
2.
which of the following is likely to have the least influence on an individuals values?
a)
media
b)
family
c)
religious affiliations
d)
grade average
3.
common fees that may be charged by a depository institution include all exept
a)
overdraft fee
b)
late fee
c)
ATM fee
d)
minimum balance fee
4.
who is medicare designed to help?
a)
low income families
b)
single parents
c)
senior citizens
d)
children of unemployed parents
5.
ones lifestyle is to their standard of living as present is to
a)
past
b)
recent
c)
future
d)
gift
6.
gross income - deductions=
a)
social security
b)
medicare
c)
net income
d)
employee benefits
7.
which federal program assists low income families in purchasing nutritious foods?
a)
SNAP
b)
TANF
c)
social security
d)
medicare
8.
due to unexpected circumstances, Ariel is temporarily receiving income from a government assistance program. the funds she receives through the government program are most likely funded by
a)
small fees proportional to income of clients
b)
fees that are charged to some, but not all, clients using the programs
c)
taxes are the local, state, and federal levels
d)
donations from large corporations
9.
which statement is true of mutual funds?
a)
speculative investments
b)
diversified investments
c)
form of real estate investment
d)
superior purchasing to a single stock
10.
it is vest to have the rate of return on an investment _______ than the rate of inflation.
a)
lower, in order to minimize taxes
b)
lower, in order to minimize risk
c)
higher, to maintain purchasing power,
d)
higher, to minimized risk
11.
which of the following is not included in an individuals credit report?
a)
current and past addresses
b)
account balances
c)
bankruptcies and foreclosures
d)
medical information
12.
which is not an example of a data furnisher
a)
landlord
b)
credit card company
c)
utility company
d)
medical provider
13.
which of the following is an actof identity theft?
a)
receiving permission to use a parents credit card for chool clothes
b)
wrongfully acquiring and using someones personal identification
c)
taking the identify of another individual as inspiration for a costume
d)
having the same name as another person
14.
it is recommended that life insurance be purchased when the
a)
reaches the age of 50
b)
flies in an airplane
c)
gets their first job
d)
has dependents
15.
what is not and example of a durable good
a)
automobile
b)
cell phone
c)
food
d)
clothing
16.
a rental agreement is often referred to as
a)
a lease
b)
amenity
c)
renters insurance
d)
mortgage
17.
which of the following is not considered part of the steps of estate planning?
a)
goal setting
b)
family info
c)
selling off assets
d)
legal and tax analysis
18.
planned giving can occur through
a)
estate planning activities
b)
buying girl scout cookies on your way out of the grocery store
c)
paycheck deductions for retirement accounts
d)
pulling over to help someone with car trouble
19.
which of the following statements about our interactions with money is not considered to be true?
a)
you are responsible for your present self and your future self
b)
your present self impacts your future
c)
you are better off in a community than by yourself
d)
investment increases risk and reduces your ability to cope with risk and uncertainty
20.
to calculate her net worth jordyn should use the following formula
a)
assets-liabilities=net worth
b)
assets*liabilities=net worth
c)
assets+liabilities=net worth
d)
assets/liabilities=net worth
21.
which of the following statements is not true?
a)
most people have sereveral careers though out their lifetime
b)
jobs are paid positions
c)
people can develop human capital in a variety of ways
d)
transferable skills can be applied to many personal and professional roles
22.
when a goal has been set to save $100.00 a month for an emergency fund of $2000 giving up food from the vending machine to achieve that goal is the
a)
opportunity cost
b)
interest
c)
specific part of the smart goal
d)
trade off
23.
edward wants to develop a positive credit history. how should he do this?
a)
maintain reasonable amounts of available credit
b)
have one type of credit account
c)
pay cash for the majority of purchases
d)
open credit accounts in their parents name
24.
matt wants to guard his personal info. which personal info is least likely to be used by scammers?
a)
phone #
b)
credit card #
c)
bank account #
d)
drivers license #
25.
why is investing in product research an important part of the planned buying process?
a)
enhances satisfacation
b)
decreases satisfacation
c)
too time consuming
d)
only necessary for big purchases
100 %
