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Financial Literacy TRUE and FALSE Exam Questions and Answers
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  • Course
  • Financial Literacy
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  • Financial Literacy

True - Answer-True or False: True financial security is achieved when your money begins to generate an income- your money starts working for you False - Answer-True or False: The amount of money a profession brings should be your first priority in selection your career path True - Answer-True...

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  • October 13, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • financial literacy true and false exam questions a
  • true answer true or false true financial securi

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  • Financial Literacy
  • Financial Literacy

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lectknancy

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Financial Literacy TRUE and FALSE
Exam Questions and Answers
True - Answer-True or False: True financial security is achieved when your money
begins to generate an income- your money starts working for you

False - Answer-True or False: The amount of money a profession brings should be your
first priority in selection your career path

True - Answer-True or False: since the job market constantly changes, odds are that
you will work in more than one career field in your lifetime

True - Answer-True or False: people who fall under the "stabilizing" characteristics in
the DISC Profile are likely to be calm and dislike conflict

True - Answer-True or False: Even though your knowledge and work experience will
change throughout your life, you will never outgrow who you are

False - Answer-True or False: you should only make and focus on one goal at a time

False - Answer-True or False: Since you are a teenager, what you do now with money
will have little effect on your financial future

False - Answer-True or False: Most Americans today are wealthy and will have financial
security when they retire

False - Answer-True or False: Most Americans avoid the use of credit when it comes to
buying big-ticket items like a car or furniture for their home

True - Answer-True or False: Without contentment, your whole life will just be jumping
from one thing to another

False - Answer-True or False: after an interview, you should be patient and wait for the
employer to contact you so that you do not appear overly eager for the position

False - Answer-True or False: expensive houses and new cars are a true indication of
wealt

True - Answer-True or False: When developing a personal financial plan, one of the first
things you should do is assess your current situation.

False - Answer-True or False: Everyone should have the same financial plan

False - Answer-True or False: The first thing you should save for is your retirement plan

, False - Answer-True or False: Your income level greatly affects your saving habits

False - Answer-Americans typically maintain a very high savings rate

False - Answer-True or False: Learning the language of money isn't that important
because you will be able to depend on financial planners to manage your money

True - Answer-True or False: You should save money for three basic reasons:
emergency funds, purchases, and wealth building

False - Answer-True or False: When it comes to saving money, the amount you save is
determined by how much you have left at the end of the month once all of your
spending is done

True - Answer-True or False: when your high school, you wont have the same
emergency fund as your parents

True - Answer-True or False: You should hold off on investing for retirement until you
have college or other post-secondary education paid for

True - Answer-True or False: The number one cause in North America today is stress
and disagreements over money

True - Answer-True or False:The envelope system works great for managing spending
on things that dont normally have a fixed monthly expense

False - Answer-True or False: If you write a zero based budget every month, it is not
necessary to reconcile your account

True - Answer-True or False: Budgeting is crucial to your financial success

True - Answer-True or False: Writing and following a zero based budget will help you
avoid overspending and impulse purchases

False - Answer-True or False: A debit card cannot be used for online purchases

True - Answer-True or False: "Pay yourself first" means you should assign a portion of
your income to saving and investing every month

True - Answer-True or False: Setting up automatic account transfers is the easiest way
to build your savings for your emergency fund or large purchases

False - Answer-True or False: You must establish credit in order to buy a house

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