Question 1

According to the Keown book,in 2014,the average interest rate on a credit card was around 15.6 percent-expensive borrowing,to be sure.

Accepted Answer

A) True 
 B)False  True

Question 2

Which of the following statements is correct?

Accepted Answer

A)  You should spend less than you earn and budget your money. 
B)  You should know the costs of borrowing. 
C)  You should understand the difference between good and bad debt. 
D)  You should make sure that you can repay what you borrow. 
E)  All of the above statements are correct. 
A)  You should spend less than you earn and budget your money. 
B)  You should know the costs of borrowing. 
C)  You should understand the difference between good and bad debt. 
D)  You should make sure that you can repay what you borrow. 
E)  All of the above statements are correct. E

Question 3

What is the importance of understanding the financial life cycle?

Accepted Answer

A)  It allows you to be proactive in financial planning to prepare for your changing needs. 
B)  It allows you to take advantage of the time-value-of-money. 
C)  It helps you in achieving your long-term financial goals. 
D)  All of the above are correct. 
E)  Only A and C are correct. 
A)  It allows you to be proactive in financial planning to prepare for your changing needs. 
B)  It allows you to take advantage of the time-value-of-money. 
C)  It helps you in achieving your long-term financial goals. 
D)  All of the above are correct. 
E)  Only A and C are correct. D

Question 4

There are always positive things you can do to change your credit score so it is worth the time to try and manage it.

Accepted Answer

A) True 
 B)False

Question 5

Tracking your spending for a month or so will help you plan savings.

Accepted Answer

A) True 
 B)False

Question 6

The key to keeping the cost of home and auto insurance down is to keep your deductibles as high as you can afford.

Accepted Answer

A) True 
 B)False

Question 7

List the main "life events" as discussed in your textbook.

Accepted Answer

1. Getting started
2. Marriage
3. Buying

Question 8

According to your text,is it recommended that couples have a joint credit card or not?

Accepted Answer

A)  No, it is best for couples to have their own credit cards. 
B)  Yes, it is important for couples to have joint credit cards. 
A)  No, it is best for couples to have their own credit cards. 
B)  Yes, it is important for couples to have joint credit cards.

Question 9

For a married couple with opposite spending habits,one checking account for the family is the ideal strategy.

Accepted Answer

A) True 
 B)False

Question 10

What is a smart thing for married women to do regarding their personal financial situation?

Accepted Answer

A)  Make sure their plan recognizes that women live longer than men and that half of all marriages end in divorce. 
B)  Be involved in decisions regarding their husband's employee benefits and retirement plans. 
C)  See a financial planner about any specific concerns. 
D)  All of the above are correct. 
E)  Only A and C are correct. 
A)  Make sure their plan recognizes that women live longer than men and that half of all marriages end in divorce. 
B)  Be involved in decisions regarding their husband's employee benefits and retirement plans. 
C)  See a financial planner about any specific concerns. 
D)  All of the above are correct. 
E)  Only A and C are correct.

Question 11

What challenges to personal financial planning does marriage present?

Accepted Answer

A)  Setting common goals 
B)  Establishing a common household budget 
C)  Asset ownership and estate planning 
D)  All of the above are correct. 
E)  Only B and C are correct. 
A)  Setting common goals 
B)  Establishing a common household budget 
C)  Asset ownership and estate planning 
D)  All of the above are correct. 
E)  Only B and C are correct.

Question 12

In spite of the fact that many younger couples have high living expenses at first,it's is still vitally important to start a savings plan.

Accepted Answer

A) True 
 B)False

Question 13

Insurance planning becomes much more important when a person gets married.

Accepted Answer

A) True 
 B)False

Question 14

Living below your means deals with buying what you need versus buying what you want.

Accepted Answer

A) True 
 B)False

Question 15

Carrying debt today is limiting your financial options in the future.

Accepted Answer

A) True 
 B)False

Question 16

Debt is being marketed to adults as much as toys are to children.What are some of the results of this?

Accepted Answer

A)  People are encouraged to borrow more than they should. 
B)  Almost 60% of those aged 30 and under do not pay off their credit card bills every month. 
C)  Students are limited in their capacity to obtain debt. 
D)  All of the above 
E)  Only A and B 
A)  People are encouraged to borrow more than they should. 
B)  Almost 60% of those aged 30 and under do not pay off their credit card bills every month. 
C)  Students are limited in their capacity to obtain debt. 
D)  All of the above 
E)  Only A and B

Question 17

College graduates should be prepared to make many financial decisions during their first decade after graduation.

Accepted Answer

A) True 
 B)False

Question 18

Part of the getting started stage is to begin saving for your goals.What are the critical steps to doing so?

Accepted Answer

A)  Make savings automatic. 
B)  Live within your means. 
C)  Catch your matches. 
D)  All of the above are correct. 
E)  Only A and C are correct. 
A)  Make savings automatic. 
B)  Live within your means. 
C)  Catch your matches. 
D)  All of the above are correct. 
E)  Only A and C are correct.

Question 19

On average,married men earn 26% more money than unmarried men.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is considered to be a key element to effective debt management?

Accepted Answer

A)  Know and understand the costs of debt. 
B)  Complete a budget: always spend more than you earn. 
C)  Take the largest possible loan you can obtain. 
D)  Accept credit whenever it is offered. 
E)  None of the above 
A)  Know and understand the costs of debt. 
B)  Complete a budget: always spend more than you earn. 
C)  Take the largest possible loan you can obtain. 
D)  Accept credit whenever it is offered. 
E)  None of the above

According to the Keown book,in 2014,the average interest rate on a credit card was around 15.6 percent-expensive borrowing,to be sure.

Which of the following statements is correct?

What is the importance of understanding the financial life cycle?

There are always positive things you can do to change your credit score so it is worth the time to try and manage it.

Tracking your spending for a month or so will help you plan savings.

The key to keeping the cost of home and auto insurance down is to keep your deductibles as high as you can afford.

List the main "life events" as discussed in your textbook.

According to your text,is it recommended that couples have a joint credit card or not?

For a married couple with opposite spending habits,one checking account for the family is the ideal strategy.

What is a smart thing for married women to do regarding their personal financial situation?

What challenges to personal financial planning does marriage present?

In spite of the fact that many younger couples have high living expenses at first,it's is still vitally important to start a savings plan.

Insurance planning becomes much more important when a person gets married.

Living below your means deals with buying what you need versus buying what you want.

Carrying debt today is limiting your financial options in the future.

Debt is being marketed to adults as much as toys are to children.What are some of the results of this?

College graduates should be prepared to make many financial decisions during their first decade after graduation.

Part of the getting started stage is to begin saving for your goals.What are the critical steps to doing so?

On average,married men earn 26% more money than unmarried men.

Which of the following is considered to be a key element to effective debt management?

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: The Role of Open Credit

Student and Consumer Loans: The Role of Planned Borrowing

The Home and Automobile Decision

Life and Health Insurance

Property and Liability Insurance

Investment Basics

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: An Easy Way to Diversify

Retirement Planning

Estate Planning: Saving Your Heirs Money and Headaches

Filters

Exam 17: Financial Life Events Fitting the Pieces Together

According to the Keown book,in 2014,the average interest rate on a credit card was around 15.6 percent-expensive borrowing,to be sure.

Which of the following statements is correct?

What is the importance of understanding the financial life cycle?

There are always positive things you can do to change your credit score so it is worth the time to try and manage it.

Tracking your spending for a month or so will help you plan savings.

The key to keeping the cost of home and auto insurance down is to keep your deductibles as high as you can afford.

List the main "life events" as discussed in your textbook.

According to your text,is it recommended that couples have a joint credit card or not?

For a married couple with opposite spending habits,one checking account for the family is the ideal strategy.

What is a smart thing for married women to do regarding their personal financial situation?

What challenges to personal financial planning does marriage present?

In spite of the fact that many younger couples have high living expenses at first,it's is still vitally important to start a savings plan.

Insurance planning becomes much more important when a person gets married.

Living below your means deals with buying what you need versus buying what you want.

Carrying debt today is limiting your financial options in the future.

Debt is being marketed to adults as much as toys are to children.What are some of the results of this?

College graduates should be prepared to make many financial decisions during their first decade after graduation.

Part of the getting started stage is to begin saving for your goals.What are the critical steps to doing so?

On average,married men earn 26% more money than unmarried men.

Which of the following is considered to be a key element to effective debt management?

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: The Role of Open Credit

Student and Consumer Loans: The Role of Planned Borrowing

The Home and Automobile Decision

Life and Health Insurance

Property and Liability Insurance

Investment Basics

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: An Easy Way to Diversify

Retirement Planning

Estate Planning: Saving Your Heirs Money and Headaches

Filters