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HDFS 3050-Resource Management Exam Questions with Complete Answers
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HDFS 3050-Resource Management Exam Questions with Complete Answers
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HDFS 3050-Resource Management ExamQuestions with Complete Answers
Wealthy Barber Returns chapter 1 has to do with the "harsh reality" about accumulating
wealth. Which statement below best summarizes the harsh reality? - Answer-Unless
you are born into or marry into wealth, you will need to learn about financial matters in
order to be secure in later life.
From the class notes on myths, which of the following myths was NOT discussed in
class? - Answer-Only people who earn a business degree in college will be financially
stable.
Financial Stability is a bit like a basic math problem. What advice does the Wealthy
Barber returns offer on this topic? - Answer-You must spend less than you earn in order
to become financial stable.
What are the four words that everyone should learn how to use that were discussed in
the Wealthy Barber Returns and discussed in class? - Answer-I can't afford it
The Wealthy Barber Returns suggests that everything in life is relative. The implication
of this lesson is that when we think about our financial circumstances in life we should
remember that - Answer-When you think about the circumstances of people all over the
world, it helps us with perspective taking.
When the cost of things like houses, cars and the cost of spending a day in the hospital
goes up over time, that is known as an issue with ______________ (hint: this is also
related to the myths we discussed)? - Answer-inflation
Which statement below best summarizes how we measure an economy and what
causes economies to change over time? - Answer-The size of an economy is
determined by gross domestic product and the economy moves in cycles.
The formal definition of a recession is: - Answer-Two or more consecutive quarters of
negative GDP growth.
The Dow Jones Industrial Average currently is closest to which of the following numbers
(or levels)? - Answer-26,000
The pyramid that we are using as an organizational tool was developed as part of a 4-H
curriculum. The topics are organized into three broad categories. Which one of the
following categories is not part of the pyramid model?
- Wealth Management
- Wealth Distribution
- Wealth Accumulation
, - Wealth Protection - Answer-Wealth Management
Chapter 4 of Suze Orman is about student debt. The question is often raised, "Is a
College Education Worth It?" The conclusion of the chapter and the class Power Point
reveals what overall conclusion can be drawn about this question? - Answer-Yes, in
most cases, the expense of a college education pays off during a life time of earnings.
The first three chapters of Suze Orman, YF&B, wealth with what topics? - Answer-
Managing your credit,
working in a filed you love and managing your credit card spending
In Chapter 2 of Suze Orman, YF&B, she offers suggestions for about early career
management. She makes the case for the importance of people starting their careers
with ____________ as a central tenant? - Answer-Passion for the work
Based on the readings from Suze Orman, Young, Fabulous and Broke, a poor credit
score might impact your ability to: - Answer-Buy a house
Buy a car
get a job
T OR F: The chapter 1 of Suze Orman YFB on credit scores offer very practical tips and
suggestions. There are dozens of practical tips and suggestions in this chapter. And,
you read every word of the chapter - Answer-True
The book Happy Money suggests that people are the happiest when they spend money
on ____________ instead of _____________. - Answer-experiences; things
How did the sisters in the Good Morning America film clip, get rid of $200,00 in debt? -
Answer-They moved in together and consolidated all income and expenses. By doing
this, they cut their debt very quickly.
According to Suze Orman, Chapter 3, if a parent dies with heavy credit card debt, is the
child responsible for paying the credit card debt? - Answer-No, the child is not
responsible for the credit card debt but the parent's estate is responsible
T or F : Suze Orman says that the in an entry level position, the new employees job is to
make his/her boss look good. Is this statement true or false? - Answer-True
What financial habit sits as the foundation for successful financial management
according to the pyramid concept? - Answer-Cash Management
When it comes to investing, which is true about the correlation between the riskiness of
an investment and the return? - Answer-Risk & return run in parallel (Higher risk, higher
return)
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