Exam 15: Personal Finances

To find your net cash flow,add your expenditures to your income and divide by 12.

For every $1 that you spend on your college education,you can expect to earn about $35 during the course of your financial life cycle.

When there is a difference between an amount in the "budget" column and the corresponding amount in the "actual" column,the difference,whether plus or minus,is recorded as a(n)_____.

Credit bureaus compile a numerical credit score called a FDIO score for each credit user.

Credit cards _____.

Extrafax,Expertion,and TransAtlantic are the three national credit bureaus.

A general job search would include all of the following approaches except:

Non-current liabilities are debts that must be paid within one year.

Failing to pay debts can ultimately cause you to serve time in prison.

What you own exceeds the amount you owe and so you have a positive net worth.

A budget shows the income received for the past year and the amounts one expects to spend in the next year for each cash outflow item.

The majority of FICO scores fall into the 700-900 range.

Life stages and events play a big part in the determination of financial planning.

In entrepreneurship as in most other walks of adult life,the better your education,the more promising your financial future.

Net worth and cash-flow statements are most valuable when used together.

Because of _____ a dollar received today is worth more than a dollar received in the future.

The purpose of a résumé is to get an interview.

The financial planning process consists of three steps:

Basically all credit cards are the same in terms of interest rates,fees and payment schedules.

The first step in getting a good job offer is the interview.