wayground logo

Free Printable Worksheets

NEW

Font size

S
M
L
XL
Worksheets

Final post test review - Personal Foundations Dave Ramsey

Total questions: 73

Worksheet time: 41mins

Name
Class
Date
1.
What is Dave Ramsey's First Foundation of Personal Finance?
a)
Save Money
b)
Don't spend money
c)
$25 Emergency Fund
d)
$500 Emergency Fund
2.
What is an example that you can use the $500 Emergency Fund for?
a)
Groceries
b)
Car broke down
c)
Your friend needs $50
d)
Black Ops III
3.
Is it a good idea to keep your Emergency Fund mixed with your everyday spending money?
a)
Yes
b)
No
4.
What is the Second foundation of personal finance?
a)
Get out of Debt
b)
Buy Stuff
c)
$100 Emergency Fund
d)
Finance your Car
5.
What is the Third foundation of Personal Finance?
a)
Pay cash for stuff
b)
5 year financing on car purchases
c)
Pay cash for your car
d)
4 year financing on car purchases
6.
What is the Fourth foundation of Personal Finance?
a)
Go to a cheap college
b)
Avoid Private Schools
c)
Get financial aid
d)
Pay cash for college
7.
What is the Fifth foundation of Personal Finance?
a)
Build Wealth and Give
b)
Pay cash for your boat
c)
Spend, Spend, Spend
d)
Pay cash for vacation home
8.
What is it that helps your 401(k) grow so much?
a)
Compound Interest
b)
Good Brokers
c)
Working Really Hard
9.
1)  Which of the following would not be a huge financial risk (and, therefore would not require insurance) if you had a full emergency fund of $500 or more?
a)
You lose your cell phone
b)
A medical emergency
c)
Your identity gets stolen
d)
A car accident
10.
1)  The time between the disabling event and the beginning of payments in your disability coverage is called:
a)
Decutible
b)
Out of Pocket
c)
Elimination Period
d)
Stop Gap
11.
ife insurance policy for a specific period of time is called:
a)
Universal
b)
Level
c)
Term
d)
Whole Life
12.
 Which of the following is not a recommended way of lowering your car insurance premiums?
a)
  Get good grades and take a driver education class
b)
  Drop your auto insurance altogether
c)
  Increase your deductible
d)
Shop Around
13.
  Which of the following types of insurance is not recommended for a young single adult?
a)
Auto Insurance
b)
Identity Theft Insurance
c)
Health Insurance
d)
Life Insurance
14.
Which of the following is not a recommended way to save on your health insurance premium?
a)
Increase your deductible
b)
  See if a Health Savings Account would make sense for your situation.
c)
A)  If you are young and healthy, you do not need health insurance.
d)
Increase your stop-loss or your maximum out-of-pocket expense
15.
Comprehensive coverage takes care of damage to your car that is not caused by a collision.
a)
True
b)
False
16.
Renterʹs insurance is not necessary if you donʹt have a lot of expensive things.
a)
True
b)
false
17.
Which of the following is a FIXED expense?
a)
Water Bill
b)
Car Payment
c)
Electric
d)
Food
18.
Which of the following is considered a FLEXIBLE expense?
a)
Rent
b)
Car Payment
c)
Electric Bill
19.
How often should you complete a budget?
a)
Hourly
b)
Daily
c)
Weekly
d)
Monthly
20.
What is a typical overdraft fee charged by a bank?
a)
$1.50
b)
$5
c)
$11
d)
$35
21.
What is the cost to you for using a credit card?
a)
Interest
b)
Late Fees
c)
Annual Fees
d)
All of the above
22.
What percentage of families now have a negative net worth?
a)
10%
b)
25%
c)
50%
d)
75%
23.
What is the #1 reason people don't finish college?
a)
Too much partying
b)
College is too hard
c)
Financial Reasons
d)
Airplane
24.
What does it hurt to try and negotiate with someone on price?
a)
Nothing
b)
You could get fined
c)
They might remove you from their location
25.
When is it okay to get a deal?
a)
When you don't lie or misrepresent yourself to get it.
b)
When you tell them you're poor, but you're actually not.
c)
When you say you're broke, but you have plenty of money.
d)
When you steal the product.
26.
Which of the following is not a good idea for getting out of debt?
a)
Quit borrowing money
b)
Get a part-time job or work overtime
c)
Sell something
d)
Borrow money from your parents to pay for the debt
27.
Which of the following is not a factor in determining a FICO score?
a)
Getting a personal loan from a bank
b)
Using credit cards
c)
Paying cash for all purchases
d)
Taking out a mortgage on a house
28.
What factors affect a credit score?
a)
Type of debt
b)
New debt
c)
Duration of debt
d)
All of the above
29.
A credit score is intended to measure:
a)
Your financial success
b)
The risk of you not repaying debt
c)
Your income level
d)
The amount of money you have in the bank
30.
If you are a victim of identity theft, you are only responsible for paying back half of the debt.
a)
True
b)
False
31.
You need to have a credit card to rent a car or check in to a hotel.
a)
True
b)
False
32.
Teens are a huge target of credit card companies today.
a)
True
b)
False
33.
Co-signing a loan is a good way to help a friend or relative.
a)
True
b)
False
34.
Cost of borrowing money on an annual basis; takes into account the interest rate and other related fees on a loan.
a)
annual percentage rate (APR)
b)
annual fee
35.
A card issued by a bank that allows users to finance a purchase.
a)
credit card
b)
debit card
36.

An decrease or loss in value.

a)

inflation

b)

deflation

37.

If you rented a couch for $5,650 and could have bought it at The Dump for $2,325, how much did you overpay?

a)

$1,530

b)

$2,325

c)

$3,325

d)

$3,515

38.
Which of the following is NOT a good option to pay for your education?
a)
Plan ahead
b)
Fill out the FAFSA
c)
Ask your parents to take out a loan
d)
Get a part-time job
39.
You should visit your college's financial aid office if:
a)
Your parents' financial situation has changed
b)
You have any problems with the financial aid application process
c)
A medical situation has come up
d)
All of the above
40.
The average repayment period for a student loan is:
a)
15 years
b)
5 years
c)
20 years
d)
10 years
41.
Percentage of college students that graduate with student loans
a)
90%
b)
66%
c)
30%
d)
25%
42.
The average millionaire reads one nonfiction book a month
a)
True
b)
False
43.
The academic and financial choices you make in the next few years will affect the next 40 years of your life
a)
True
b)
False
44.
A program that allows students to work part time while continuing their studies
a)
work study
b)
overtime
45.
Allows students to learn basic professional skills in two years or less; typically cut out many of the general courses required by traditional universities
a)
trade school
b)
self-education
46.

Which of the following is not a true statement?

a)

After 1970, consumer debt skyrocketed.

b)

Americans learned to borrow amidst post WW-II prosperity

c)

The credit industry in America has not changed much since 1917

d)

As banks made higher profits, they were willing to lend more money to consumers.

47.

When it comes to managing money, success is about _% knowledge and _ % behavior.

a)

50, 50

b)

20, 80

c)

60, 40

d)

80, 20

48.

Which of the following is a consequence of spending more than you make?

a)

Stress

b)

Missed opportunity to save and invest

c)

A cycle of debt

d)

All of these

49.

When it comes to Personal Finance the Math is easy. What's challenging is managing your

a)

Income

b)

Behavior

c)

Friends

d)

Bank Account

50.

At your age, a fully funded emergency fund should be:

a)

100

b)

500

c)

1000

d)

5000

51.

Americans typically maintain a very high savings rate

a)

True

b)

False

52.

Groceries are a _____________________ expense

a)

fixed expense

b)

discretionary expense

c)

variable expense

d)

intermittent expense

53.

Car repairs are a:

a)

Fixed expense

b)

intermittent expense

c)

variable expense

d)

discretionary expense

54.

Percentage of Americans living paycheck to paycheck.

a)

70

b)

20

c)

50

d)

40

55.

Which of the following is not a good idea for getting out of debt?

a)

Quit borrowing money

b)

Get a part time job or work overtime

c)

Sell something

d)

Borrow money from your parents to pay for the debt.

56.

The total estimated student loan debt outstanding(unpaid) is over:

a)

10 thousand

b)

1 trillion

c)

7 trillion

d)

1 billion

57.

Which of the following is not a need:

a)

utilities

b)

housing

c)

eating out

d)

food

58.

Which concept is best explained by the statement, "money spent here cannot be spent there?"

a)

Law of diminishing return

b)

Opportunity cost

c)

Significant Purchases

d)

Delayed gratification

59.

Being married(or emotionally attached) to a purchase will cause you to lose bargaining power.

a)

true

b)

false

60.

Using cash gives you more bargaining power than using credit.

a)

True

b)

False

61.

A reason that people need to save and invest is to:

a)

Enable their money to make money

b)

Increase the money supply

c)

Be able to get anything they want

d)

Have an opportunity to talk with financial advisors

62.

Company Xʹs board of directors has decided to issue a portion of its earnings to its shareholders. If you own stock in Company X, you can expect to receive a(n):

a)

investment

b)

dividend

c)

buy out

d)

yield

63.

The benefit of diversification in your investments is:

a)

reduced risk

b)

increased return

c)

reduced tax liability

d)

increased risk

64.

In some cases, employers will match the employee contribution, but you should fund your plan whether your company matches or not. This statement refers to:

a)

single stocks

b)

401k

c)

Roth IRA

d)

bond funds

65.

When communicating with your parents about money, you should:

a)

Communicate your wants, needs, and money goals

b)

Be honest

c)

Be a good listener

d)

All of these

66.

A written plan gives the single person empowerment, self -accountability and control.

a)

true

b)

false

67.

When a company hires you, you will fill out a _________ form. The information on this form is the basis for determining how much income tax should be withheld from your paycheck.

a)

1040 EZ

b)

W-4

c)

W-2

d)

I-9

68.

Since the job market constantly changes, odds are that you will work in more than one career field in your lifetime.

a)

True

b)

False

69.

After an interview, you should be patient and wait for the employer to contact you so that you don’t appear overly eager for the position.

a)

True

b)

False

70.

Money is not the only way to give.

a)

True

b)

False

71.

There is nothing that distinguishes your values and interests from those of other teenagers.

a)

True

b)

False

72.

You have to wait until you have a large income before you can help others.

a)

True

b)

False

73.

One of the most important and rewarding things you can do is give.

a)

True

b)

False

Similar Resources on Wayground

Sharks Final Assessment 6 8 2023

70 questions

Sharks Final Assessment 6 8 2023

quiz

Worksheet

•

9th - 12th Grade

FORM 4 EDPM EXAM DEC 2025

70 questions

FORM 4 EDPM EXAM DEC 2025

quiz

Worksheet

•

12th Grade

Principles of Business Fall Midterm Review 25-26

70 questions

Principles of Business Fall Midterm Review 25-26

quiz

Worksheet

•

9th - 12th Grade

Unit 1 Questions

70 questions

Unit 1 Questions

quiz

Worksheet

•

10th Grade

Section 2: People in Business

70 questions

Section 2: People in Business

quiz

Worksheet

•

10th Grade

Entrepreneurship Cert

75 questions

Entrepreneurship Cert

quiz

Worksheet

•

9th - 12th Grade

Web Design final

71 questions

Web Design final

quiz

Worksheet

•

9th - 12th Grade