The Road to Financial Freedom Pretest

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15 Questions - Developed by: - Developed on: - 6,304 taken

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  • 1
    A “budget” is:
  • 2
    Which of the following is NOT a consideration in decision making?
  • 3
    Overspending on food one month and having to use the gas allowance to pay the other bills is considered….

  • 4
    What is a consumer?
  • 5
    Which of the following is considered a need?
  • 6
    What is the first step in the financial planning process?

  • 7
    A “value” is:
  • 8
    Cody has $372.00 after combing his cash and checking account together. He does not have a saving account, and does not get paid for 2 more weeks. If he decides to spend $370.000 for a second stereo, what can he do this weekend?
  • 9
    Smart goals are:
  • 10
    What is the purpose of Form W2?

  • 11
    Many people put aside money to take care of unexpected expenses. If Sue and Joe have money put aside for emergencies, in which of the following forms would be of LEAST benefit to them if they needed it right away?
  • 12
    Ron and Molly are the same age. At age 25, Money began saving $2,000 a year while Ron saved nothing. At age 50, Ron realized that he needed money for retirement and started saving $4,000 per year while Molly kept saving her $2,000. Now they are both 75 years old. Who has the most in his or her retirement account?
  • 13
    Which of the following credit card users is likely to pay the GREATEST DOLLAR amount in finance charges per year if each charges the same amount per year on his or her cards?
  • 14
    Annual Percentage Rate (APR) is:
  • 15
    Most of the time when items are bought on credit and paid for over a long period of time, the cost to the buyer:

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