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Personal Finance Literacy Exam 6
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Personal Finance Literacy Exam 6
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25 Questions

1. Diana prepares bills and invoices for her company. Her career is in the area of
2. A person who uses a decision-making model is able to
3. The desire for an item that has monetary value is a(n) _________ want.
4. Nina needs to buy her textbooks for college. Instead of getting them from the school bookstore, she finds a way to rent them online for much less money. Nina is
5. Regulatory agencies in the security and investment industry aim to keep markets fair by
6. Which of the following is an example of an individual's occupation:
7. When Armand is comparing his checkbook balance with his bank statement, he must make sure that he has subtracted the __________ from his checkbook.
8. Marvin is drawing up his will. He wants to leave all of his money to his daughter, so he claims her as his
9. Before choosing securities in which to invest your money, your first step is to
10. Which of the following best explains how income taxes reduce your net income:
11. Why is it important for individuals to establish investment goals?
12. You received a check on your birthday for $2,000. If you invest it at an annual rate of 3%, how much will it be worth in a year?
13. When you study a company's business model, product mix, competition, and brand, you are studying
14. Why is it important for individuals to periodically validate their credit histories?
15. Which of the following statements is true of legally binding contracts:
16. Financial managers who are legally responsible for their clients' investments must demonstrate fiduciary responsibility, which involves
17. The collaborative negotiating style benefits both parties and often results in a _____-_____ outcome.
18. Which of the following is a way to evaluate financial advisors:
19. Immediately contacting the credit card company if credit cards are lost is one way to protect against
20. Althea just received her first paycheck at work. She's excited, but as she looks at her pay stub she gets confused. She wants to know how much money she made in this pay period, but there are so many different numbers. If Althea wants to know how much money will actually be deposited in her bank account, she should look at the
21. How can you show that you're actively listening in a negotiation?
22. Brandon is developing a financial plan, and one of his goals is to save enough money to buy a new car in two years. Has Brandon set a SMART goal?
23. What can you do to prevent identity thieves from getting your personal information?
24. Lauren wants to get credit through a financial institution that is owned by its members. Which source of credit is she most likely to use?
25. When developing a personal budget and determining net cash flow, it is important to keep detailed records of all

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