* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download File
Survey
Document related concepts
Modified Dietz method wikipedia , lookup
Internal rate of return wikipedia , lookup
Investment fund wikipedia , lookup
Land banking wikipedia , lookup
Greeks (finance) wikipedia , lookup
History of pawnbroking wikipedia , lookup
Stock selection criterion wikipedia , lookup
Financial economics wikipedia , lookup
Money supply wikipedia , lookup
Global saving glut wikipedia , lookup
Interest rate wikipedia , lookup
Public finance wikipedia , lookup
Continuous-repayment mortgage wikipedia , lookup
Business valuation wikipedia , lookup
Mark-to-market accounting wikipedia , lookup
Corporate finance wikipedia , lookup
Financialization wikipedia , lookup
Transcript
Claxton Spring 2016 DUE: A-Day, 3/07/16 TAKE-HOME QUIZ: Chapter 3 and Chapter 5 Personal Financial Planning and Money Management 1. The trade-off when you make a choice is called a. cost of choice b. a financial goal c. opportunity lost d. opportunity cost 2. Future value is a. the amount to which your original deposit will increase based on a certain interest rate and a certain amount of time b. the gross national product forecasted over a ten-year period c. the current interest rate d. the result of supply and demand 3. Inflation refers to a. a balloon payment b. a general rise in prices of goods and services c. the rise in the price of a stock d. the cost of intangible goods 4. The ability to easily convert your financial resources into cash without loss in value is called a. inflation b. compounding c. liquidity d. present value 5. A series of equal deposits is a. serial deposits b. an annuity c. time deposits d. annual deposits 6. Present value is a. the amount spent to provide someone with a gift b. last year’s inflation rate adjusted to today’s dollar c. the amount of money you need to deposit now to attain a desired future amount d. the current value of a past investment 7. Time value of money is best described as a. an increase in an amount of money as a result of interest or dividends earned b. what one hour of your time is worth in today’s dollars c. the current value of the dollar d. the amount of work time needed to make up for inflation Claxton Spring 2016 8. Which of the following is not part of the financial planning process? a. determining your current financial situation b. developing financial goals c. acquiring consumable and durable goods on credit d. identifying and evaluating alternative courses of action 9. The term used to define the price that is paid for the use of another’s money is a. a price tag b. money market value c. interest d. face value 10. The amount that your original deposit will be worth on a specific date, based on a specific interest rate over a specific period of time is called a. present value b. increased value c. future value d. dollar value 11. A plan for using your income in a way that best meets your wants and needs a. personal balance sheet b. budget c. cash flow statement d. installment payments 12. Items of value that you own, including cash, real estate, personal possessions, and investments are a. debts b. assets c. liabilities d. net worth 13. Your net worth is the difference between your a. liquid assets and your real estate’s market value b. personal possession’s market value and your investment assets c. assets and liabilities d. current liabilities and long-term liabilities 14. Jewelry falls into the category of a. liquid assets b. personal possessions c. real estate d. 1investments 15. The condition that occurs when a person’s liabilities are greater than his or her assets is called a. long-term liability b. low cash flow c. insolvency d. bankruptcy Claxton Spring 2016 16. An example of cash outflow is a. a paycheck b. an allowance c. interest on savings d. a credit card payment 17. The amount of income left after taxes and other deductions are taken out of your paycheck is called a. net pay b. gross pay c. discretionary income d. cash flow 18. An example of a variable expense is a. a mortgage payment b. an auto insurance premium c. school tuition d. clothing purchases 19. Your budget shows a surplus when you a. spend more money than budgeted on entertainment b. receive a cut in pay c. spend money budgeted for emergencies on car repairs d. spend less than you earn 20. The key to establishing a sound financial future is to a. increase your savings b. keep track of every expense c. buy whatever you want d. run a budget deficit