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    Personal Finance: Prelim Quiz 1 15/15

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    Baduday Sicat
    This document contains questions from two personal finance prelim quizzes. It includes multiple choice and true/false questions testing knowledge of topics like inflation, GDP, budgeting, assets, capital markets, and opportunity costs. The document provides the questions and correct answers to 15 questions from each quiz for a total of 30 questions.

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    Personal Finance: Prelim Quiz 1 15/15

    Uploaded by

    Baduday Sicat
    119 views6 pages
    This document contains questions from two personal finance prelim quizzes. It includes multiple choice and true/false questions testing knowledge of topics like inflation, GDP, budgeting, assets, capital markets, and opportunity costs. The document provides the questions and correct answers to 15 questions from each quiz for a total of 30 questions.

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    Original Title

    PRELIM-PERSONAL-FINANCE

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    This document contains questions from two personal finance prelim quizzes. It includes multiple choice and true/false questions testing knowledge of topics like inflation, GDP, budgeting, assets, capital markets, and opportunity costs. The document provides the questions and correct answers to 15 questions from each quiz for a total of 30 questions.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    119 views6 pages

    Personal Finance: Prelim Quiz 1 15/15

    Uploaded by

    Baduday Sicat
    This document contains questions from two personal finance prelim quizzes. It includes multiple choice and true/false questions testing knowledge of topics like inflation, GDP, budgeting, assets, capital markets, and opportunity costs. The document provides the questions and correct answers to 15 questions from each quiz for a total of 30 questions.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 6

    Personal Finance

    Prelim Quiz 1 15/15

    Question 1
    A process of management and planning the anticipates or keeps at least with
    changes.
    - Personal Finance

    Question 2
    When the value of a currency decreases, an economy has ________.
    Select one:
    a.None of the Above
    b.Depression
    c.Deflation
    d.Inflation
    e.Recession

    Question 3
    A part of the capital market, capital is loaned and borrowed rather than
    bought and sold.
    - Credit Market

    Question 4
    CPA means...
    - Certified Public Accountant

    Question 5
    If the rate of GDP increases the expansion is _______.
    Select one:
    a.High
    b.Positive
    c.Negative
    d.Low
    e.Neutral
    Question 6
    According to a popular model, to be truly useful, goals must be
    -  Specific, Measurable, Attainable, Realistic, Timely

    Question 7
    Patterns that are developed by the price action experience by all securities.
    - Peaks and Troughs

    Question 8
    Unemployment Rate is a measure of an economy’s shortcomings because it
    shows the proportion of people who want to work but don’t because the
    economy cannot provide them jobs.
    Select one:
    True 
    False

    Question 9
    Factors that affects personal financial concerns:

    Select one or more:


    a.Career Choices
    b.Family Structure
    c.Health
    d.Age
    e.Assets

    Question 10
    It generally occurs after the business cycle peaks, but before it becomes a
    trough.
    Select one:
    a.Contraction
    b.Peaks and Troughs
    c.Growth
    d.Growth and Contraction
    e.Peaks
    Question 11
    Assessing the current situation
    is a matter of organizing personal financial information into summaries that
    can clearly show different and important aspects of financial life.
    Question 12
    Resources that can be used to create income, decrease expenses, or store
    wealth as an investment.

    Select one:
    a.None of the Above
    b.Market
    c.Career Choice
    d.Assets
    e.Jobs

    Question 13
    Labor is traded through hiring or employment.
    - Labor Market

    Question 14
    The process of gathering and analyzing financial data to develop a set of
    strategies that form an integrated plan to help people achieve their financial
    goals.
    - Personal Financial Planning

    Question 15
    Shows how successful an economy is at creating opportunities to sell labor
    and efficiently using its human resources.
    - Employment Rate
    Prelim Quiz 2 15/15

    Question 1
    - Diversifying
    sources of income in both the labor market and the capital markets is
    the best hedge against risks in any one market.
     

    Question 2
    When income for a period is greater than expenses, there is a 
    - Budget Surplus

    Question 3
    - Expenses
    are costs for items or resources that are used up or consumed in the
    course of daily living.
     

    Question 4
    - Opportunity Cost
     and Sunk Cost are hidden expenses that affect financial decision making.

    Question 5
    Three ways to deal with budget deficits:
    Select one or more:
    a.INCREASING INCOME
    b.REDUCING EXPENSES
    c.BUYING NEEDS ONLY
    d.BORROWING
    e.SELLING ASSETS

    Question 6
    - Wages and Salary
     is income from employment or self- employment; interest is earned
    by lending; a dividend is the income from owning corporate stock; and a
    draw is income from a partnership.
    Question 7
    Items with economic value that can be converted to cash are ______.
    Select one:
    a.Assets
    b.Stock
    c.Wages
    d.Salary
    e.All of the Above

    Question 8
    Selling an asset can result in a capital gain or capital loss.
    Select one:
    True 
    False

    Question 9
    Selling capital means trading in the capital markets, which is a sellers’
    market. You can do this only if you have a budget deficit, or too little cash to
    provide for your wants or needs.
    Select one:
    True
    False 

    Question 10
    Financing assets through equity means not sharing ownership and whatever
    gains or losses that brings.
    Select one:
    True 
    False
    Question 11
    If the asset is worth more when it is resold than it was when it was bought,
    then you have earned a _________.
    Select one:
    a.BUDGET SURPLUS
    b.BUDGET DEFICIT
    c.NONE OF THE ABOVE
    d.CAPITAL LOSS
    e.CAPITAL GAIN

    Question 12
    Whatever the type of asset you choose, investing in assets or selling capital
    can be more profitable than selling labor.
    Select one:
    True 
    False

    Question 13
    The asset can create income, reduce expenses, and store wealth.
    Select one:
    True 
    False

    Question 14
    Unlike a price tag, opportunity cost is obvious.
    Select one:
    True
    False 

    Question 15
    - Debt
      is a way to make an investment that could not otherwise be made, to
    buy an asset that you couldn’t buy without borrowing.

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