Take Charge of Your Financial Well-Being Unit 1 Summative cloned 8/22/2019
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Last updated over 3 years ago
20 questions
2
Which of the following statements about our interactions with money is NOT
considered to be true?
Which of the following statements about our interactions with money is NOT
considered to be true?
2
Carter wants to participate in an activity that will improve his well-being.
Which of the following activities would contribute the most to his well-being?
Carter wants to participate in an activity that will improve his well-being.
Which of the following activities would contribute the most to his well-being?
2
Jenna wants to improve her financial well-being. Which of the following would
contribute the most to her financial well-being?
Jenna wants to improve her financial well-being. Which of the following would
contribute the most to her financial well-being?
2
Jacob is wondering how he can improve his intellectual well-being. Which of the
following would contribute the most to his intellectual well-being?
Jacob is wondering how he can improve his intellectual well-being. Which of the
following would contribute the most to his intellectual well-being?
2
Sylas is studying financial planning in one of his classes. His teacher has
assigned him to create a timeline of his financial future. Where should the end
of his financial planning timeline be set?
Sylas is studying financial planning in one of his classes. His teacher has
assigned him to create a timeline of his financial future. Where should the end
of his financial planning timeline be set?
2
Erica wants her class project to reflect her values. Which items would be best
to include?
Erica wants her class project to reflect her values. Which items would be best
to include?
2
Which of the following is likely to have the least influence on an individual’s
values?
Which of the following is likely to have the least influence on an individual’s
values?
2
Which of the following factors is not influenced by values?
Which of the following factors is not influenced by values?
1
Megan’s mother suggested that she was experiencing the consequences of her
trade-off regarding a decision she made to purchase a dress for prom. Which
situation does Megan most likely find herself in for her mother to have made
this comment?
Megan’s mother suggested that she was experiencing the consequences of her
trade-off regarding a decision she made to purchase a dress for prom. Which
situation does Megan most likely find herself in for her mother to have made
this comment?
1
Ian has been shopping for a different vehicle for the past several months. He
needs something reliable and would really like something with a nice sound
system. He and his parents have talked about how much he can afford and he plans
to stay within the price guidelines he and his family have set. Ian was
analyzing the opportunity cost of a trade-off regarding which car to purchase.
Which situation best represents what he might be thinking through?
Ian has been shopping for a different vehicle for the past several months. He
needs something reliable and would really like something with a nice sound
system. He and his parents have talked about how much he can afford and he plans
to stay within the price guidelines he and his family have set. Ian was
analyzing the opportunity cost of a trade-off regarding which car to purchase.
Which situation best represents what he might be thinking through?
1
Whitney is shopping with her mom and they are deciding on clothing to purchase.
Which scenario BEST represents the purchase of a NEED?
Whitney is shopping with her mom and they are deciding on clothing to purchase.
Which scenario BEST represents the purchase of a NEED?
2
Kaylee will save her allowance of $25 per month to purchase a $150 mp3 player in
six months. This is an example of what type of goal?
Kaylee will save her allowance of $25 per month to purchase a $150 mp3 player in
six months. This is an example of what type of goal?
2
One element of a financial goal is missing in the example below. Which one is it? “I will save $150 each month to go on a vacation in one year.”
One element of a financial goal is missing in the example below. Which one is it? “I will save $150 each month to go on a vacation in one year.”
2
Mark and Susan, a recently married couple with full‐time jobs, set a goal of
putting $200 in savings every month to make a down payment on a home in five
years. What type of goal have they set?
Mark and Susan, a recently married couple with full‐time jobs, set a goal of
putting $200 in savings every month to make a down payment on a home in five
years. What type of goal have they set?
2
Amber’s academic adviser has asked her to set 3 academic goals for this
semester. These goals are MOST LIKELY to be accomplished if:
Amber’s academic adviser has asked her to set 3 academic goals for this
semester. These goals are MOST LIKELY to be accomplished if:
2
What Part of the Smart Goal is missing from the following goal: Instead of signing up for a cell phone plan, I will save that money to buy a new computer in one year. I will do this by saving the $50 I would have spent on the cell phone bill every month.
What Part of the Smart Goal is missing from the following goal: Instead of signing up for a cell phone plan, I will save that money to buy a new computer in one year. I will do this by saving the $50 I would have spent on the cell phone bill every month.
2
What Part of the Smart Goal is missing from the following goal: I plan to save $2,500 by automatically depositing $105 from my paycheck into a savings account each month for 2 years.
What Part of the Smart Goal is missing from the following goal: I plan to save $2,500 by automatically depositing $105 from my paycheck into a savings account each month for 2 years.
2
What Part of the Smart Goal is missing from the following goal: I plan to save $1,500 to buy a used car. I will do this by canceling my home cable service and saving that $75 each month instead.
What Part of the Smart Goal is missing from the following goal: I plan to save $1,500 to buy a used car. I will do this by canceling my home cable service and saving that $75 each month instead.
2
What Part of the Smart Goal is missing from the following goal: I plan to save $5,000 for college living expenses in four years.
What Part of the Smart Goal is missing from the following goal: I plan to save $5,000 for college living expenses in four years.
2
Which decision would it be best to write down a SMART goal for.
Which decision would it be best to write down a SMART goal for.