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Personal finance 1

Total questions: 15

Worksheet time: 4mins

Name
Class
Date
1.

Having a(n) __________ means the amount of your liabilities is larger than the value of your assets.

a)

Personal Finance

b)

Asset

c)

Negative Net Worth

d)

Interest

2.

_________ means having the knowledge and skills to manage your personal finances.

a)

Interest

b)

Financial Literacy

c)

Paycheck to Paycheck

d)

Interest Rate

3.

_________ relates to all of the different money decisions you make each day

a)

Personal Finance

b)

networth

c)

Income

d)

Liabilities

4.

Knowing your __________ is the starting point for a financial plan.

a)

Financial plan

b)

networth

c)

income

d)

liabilites

5.

Living on less than you make means not . .

a)

Buying a car at 16 years old

b)

Budgeting to eat out with friends

c)

Going to college after high school

d)

Spending all of your money

6.

Once you have established your financial plan, please write it down.

a)

true

b)

false

7.

Learning the language of money is not that important because you will be able to depend on financial planners to manage your money

a)

True

b)

False

8.

Level of investors- Those who borrow and consume, shop, and go into deep debt

a)

Level 0

b)

Level 1

c)

Level 2

d)

Level 3

9.

Level of investors- Sophisticated investors seek aggressive strategies and know how to play the game of investing.

a)

Level 3

b)

Level 4

c)

Level 5

d)

Level 6

10.

Social media affect one's personal decisions

a)

True

b)

False

11.

Some long-term investments, such as a house, can be difficult to convert quickly.

a)

True

b)

False

12.

Behavioral finance is about meeting your personal financial goals.

a)

True

b)

False

13.

Income left after spendin

a)

budget

b)

savings

c)

investment

d)

deficit

14.

It includes life and health insurance and estate and retirement planning.

a)

Protection

b)

insurance

c)

equity

d)

liabilities

15.

Being able to manage spending is a critical aspect of personal finance.

a)

True

b)

False