Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Paula Gordon just completed an important job interview as an applicant.She is home now.What should she do?

Accepted Answer

A) Call the company and thank the interviewer. 
B) Call the company and ask if she got the job. 
C) Send a thank-you note (or thank-you email) to the interviewer/company. 
D) Send the receptionist a thank-you card and small gift. 
A) Call the company and thank the interviewer. 
B) Call the company and ask if she got the job. 
C) Send a thank-you note (or thank-you email) to the interviewer/company. 
D) Send the receptionist a thank-you card and small gift.

Question 3

A defined benefit plan allows a specified amount of pretax dollars to be used to pay for qualified expenses, including health care and childcare.

Accepted Answer

A) True 
 B)False

Question 4

_____ is the risk that poor management of an organization with which you're dealing may adversely affect your personal?finances planning, while _____ is the risk associated with a product that you've chosen to buy.

Accepted Answer

A) Business risk / financial risk 
B) Management risk / financial risk 
C) Business risk / personal risk 
D) Management risk / business risk 
A) Business risk / financial risk 
B) Management risk / financial risk 
C) Business risk / personal risk 
D) Management risk / business risk

Question 5

Disability insurance pays an income to an insured person when he or she is unable to work for a few days.

Accepted Answer

A) True 
 B)False

Question 6

If for some reason you can't pay your debt you should:

Accepted Answer

A) try to return anything you've purchased. 
B) stop making your house and car payment and concentrate on your credit card bills. 
C) change your phone to an unlisted number. 
D) call your lenders and explain the situation. 
A) try to return anything you've purchased. 
B) stop making your house and car payment and concentrate on your credit card bills. 
C) change your phone to an unlisted number. 
D) call your lenders and explain the situation.

Question 7

What should you consider when evaluating a job offer?

Accepted Answer

In addition to salary, you sho

Question 8

John Creighton just received a financial aid package that includes several forms of support.Which of the following type of aid is based on his financial need and does not have to be repaid?

Accepted Answer

A) Athletic scholarship 
B) Pell Grant 
C) Work study 
D) Both b and c 
A) Athletic scholarship 
B) Pell Grant 
C) Work study 
D) Both b and c

Question 9

In order to get out of debt, it is recommended that you do all of the following except:

Accepted Answer

A) cut up your credit cards. 
B) start living on a cash-only basis. 
C) try to lower your monthly bills. 
D) take out a cash advance on one card and pay off the others with the cash received. 
A) cut up your credit cards. 
B) start living on a cash-only basis. 
C) try to lower your monthly bills. 
D) take out a cash advance on one card and pay off the others with the cash received.

Question 10

A(n)_____ is a document that itemizes expected sources of income and expenditures for the coming year, along with the relevant money amounts for each.

Accepted Answer

A) income statement 
B) statement of net-worth 
C) budget 
D) cash-flow statement 
A) income statement 
B) statement of net-worth 
C) budget 
D) cash-flow statement

Question 11

Management risk is the risk that poor management of an organization with which you're dealing may adversely affect the outcome of your personal?finances planning.

Accepted Answer

A) True 
 B)False

Question 12

If you find errors in your credit report, it is nearly impossible to get them corrected.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is not true about debit cards?

Accepted Answer

A) If you spend or take out more money through an ATM machine than you have in your account, banks do not charge fees if you are in the overdraft protection program. 
B) Debit cards are accepted by most merchants. 
C) Debit cards can help you to control spending. 
D) Banks need to get your permission before enrolling you in an overdraft protection program. 
A) If you spend or take out more money through an ATM machine than you have in your account, banks do not charge fees if you are in the overdraft protection program. 
B) Debit cards are accepted by most merchants. 
C) Debit cards can help you to control spending. 
D) Banks need to get your permission before enrolling you in an overdraft protection program.

Question 14

Banks and other institutions that made mortgage loans were the first sector of the financial industry to be hit by the financial meltdown in 2006-2007, largely because of mortgage?loan defaults.

Accepted Answer

A) True 
 B)False

Question 15

Budgeting is the application of financial principles to the monetary decisions that you make either for your individual benefit or for that of your family.

Accepted Answer

A) True 
 B)False

Question 16

A personal balance sheet lists the value of what you own, the amounts you owe, and the difference between the two, which is called _____.

Accepted Answer

A) total net worth 
B) change in cash 
C) variance 
D) net assets 
A) total net worth 
B) change in cash 
C) variance 
D) net assets

Question 17

The principle whereby a dollar received in the present is worth more than a dollar received in the future is called compound interest.

Accepted Answer

A) True 
 B)False

Question 18

The first step in getting a job offer is to prepare a(an) _____.

Accepted Answer

A) financial plan 
B) résumé 
C) cover letter 
D) reference list 
A) financial plan 
B) résumé 
C) cover letter 
D) reference list

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

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) _____.

Accepted Answer

A) gain 
B) loss 
C) variance 
D) discrepancy 
A) gain 
B) loss 
C) variance 
D) discrepancy

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

Paula Gordon just completed an important job interview as an applicant.She is home now.What should she do?

A defined benefit plan allows a specified amount of pretax dollars to be used to pay for qualified expenses, including health care and childcare.

_ is the risk that poor management of an organization with which you're dealing may adversely affect your personal?finances planning, while _ is the risk associated with a product that you've chosen to buy.

Disability insurance pays an income to an insured person when he or she is unable to work for a few days.

If for some reason you can't pay your debt you should:

What should you consider when evaluating a job offer?

John Creighton just received a financial aid package that includes several forms of support.Which of the following type of aid is based on his financial need and does not have to be repaid?

In order to get out of debt, it is recommended that you do all of the following except:

A(n)_____ is a document that itemizes expected sources of income and expenditures for the coming year, along with the relevant money amounts for each.

Management risk is the risk that poor management of an organization with which you're dealing may adversely affect the outcome of your personal?finances planning.

If you find errors in your credit report, it is nearly impossible to get them corrected.

Which of the following is not true about debit cards?

Banks and other institutions that made mortgage loans were the first sector of the financial industry to be hit by the financial meltdown in 2006-2007, largely because of mortgage?loan defaults.

Budgeting is the application of financial principles to the monetary decisions that you make either for your individual benefit or for that of your family.

A personal balance sheet lists the value of what you own, the amounts you owe, and the difference between the two, which is called _____.

The principle whereby a dollar received in the present is worth more than a dollar received in the future is called compound interest.

The first step in getting a job offer is to prepare a(an) _____.

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

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) _____.

The Foundations of Business

Entrepreneurship

Selecting a Form of Business Ownership

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Business in a Global Environment

Marketing: Providing Value to Customers

Operating in a Digital Marketing and Social Networking

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Managing Information and Technology

The Legal and Regulatory Environment of Business

Filters

Exam 15: Personal Finances

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

Paula Gordon just completed an important job interview as an applicant.She is home now.What should she do?

A defined benefit plan allows a specified amount of pretax dollars to be used to pay for qualified expenses, including health care and childcare.

_____ is the risk that poor management of an organization with which you're dealing may adversely affect your personal?finances planning, while _____ is the risk associated with a product that you've chosen to buy.

Disability insurance pays an income to an insured person when he or she is unable to work for a few days.

If for some reason you can't pay your debt you should:

What should you consider when evaluating a job offer?

John Creighton just received a financial aid package that includes several forms of support.Which of the following type of aid is based on his financial need and does not have to be repaid?

In order to get out of debt, it is recommended that you do all of the following except:

A(n)_____ is a document that itemizes expected sources of income and expenditures for the coming year, along with the relevant money amounts for each.

Management risk is the risk that poor management of an organization with which you're dealing may adversely affect the outcome of your personal?finances planning.

If you find errors in your credit report, it is nearly impossible to get them corrected.

Which of the following is not true about debit cards?

Banks and other institutions that made mortgage loans were the first sector of the financial industry to be hit by the financial meltdown in 2006-2007, largely because of mortgage?loan defaults.

Budgeting is the application of financial principles to the monetary decisions that you make either for your individual benefit or for that of your family.

A personal balance sheet lists the value of what you own, the amounts you owe, and the difference between the two, which is called _____.

The principle whereby a dollar received in the present is worth more than a dollar received in the future is called compound interest.

The first step in getting a job offer is to prepare a(an) _____.

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

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) _____.

The Foundations of Business

Entrepreneurship

Selecting a Form of Business Ownership

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Business in a Global Environment

Marketing: Providing Value to Customers

Operating in a Digital Marketing and Social Networking

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Managing Information and Technology

The Legal and Regulatory Environment of Business

Filters

_ is the risk that poor management of an organization with which you're dealing may adversely affect your personal?finances planning, while _ is the risk associated with a product that you've chosen to buy.