Chapter 1
Low-risk investments tend to generate _______ amounts of investment income and wealth.
Low
Higher financial risk tolerance will help you engage in financial behaviors that have ______ long-term payoffs.
Great
Generally, healthy people work ______ hours and for a ________ period of years over their life span compared to those
with impaired health histories.
More; longer
Risk is the ______ associated with any physical, social, emotional, environmental, workplace, or financial activity.
Uncertainty
Which of the following includes things that need to happen along the way toward reaching a financial goal?
Financial objectives
Which of the following refers to one’s ability to understand and use personal finance information?
Financial knowledge
From the beginning of your career until retirement, human capital _______ and financial wealth _______.
increases; increases
Which of the following represents a SMART goal?
Have an income over $80,000 from personal savings, Social Security, and retirement plan assets.
Which of the following refers to the “R” in SMART goals?
Relevance
Which of the following provides an example of the actions of those who fall prey to status quo bias?
Underestimates the benefits that come from making a change
Which of the following refers to a long-term goal?
More than 10 years
If you dislike losing, especially money, you might be said to be which of the following?
Loss-averse.
Self-efficacy refers to
how well you believe that you can achieve a goal.
Chapter 3
Which of the following happens when you sell an asset for more than you paid for it?
Capital gain
When you make a deposit, you are essentially _______ the bank or credit union money.
Lending
Which of the following is a payment for a set period of time, typically a year?
Salary
What is the default legal structure of a self-employed individual?
This study source was downloaded by 100000864888199 from CourseHero.com on 07-13-2023 06:43:35 GMT -05:00
https://www.coursehero.com/file/62920914/Quiz-answers/
, Sole proprietorship.
What should you do to accumulate wealth?
All answers are correct
How much is the minimum wage in the United States?
$7.25 per hour
Which of the following refers to having your employer take money automatically from your paycheck and contribute it
directly to a retirement savings plan or a savings account?
Payroll deduction
Which of the following is a payment based on the sale of a product or service?
Commission
Which of the following is a characteristic of a self-employed individual?
All the above
Which of the following refers to your income before any taxes or other expenses are deducted from your paycheck?
Gross income
Which of the following indicates the percentage of income that you are actively saving?
Savings ratio
Which of the following refers to an investor’s share of the profits?
Dividend
To accumulate wealth, you need to generate a(n)
Surplus
Chapter 4
A(n) ________ represents a dollar-for-dollar reduction in an assessed tax liability.
Tax credit
Jen is in graduate school. Unfortunately, she does not qualify for the American Opportunity Credit. As an alternative, Jen
can claim the
Lifetime Learning Credit.
Which of the following refers to a tax that imposes the same tax rate on all taxpayers subject to the tax?
Flat taxes
Which of the following is a filing status?
Head of household.
Which of the following refers to financial obligations imposed on individuals and businesses by government entities?
taxes
Which of the following is more valuable for the taxpayer?
$1,000 tax credit.
Your marital status is determined as of what date in regard to your income taxes?
December 31
This study source was downloaded by 100000864888199 from CourseHero.com on 07-13-2023 06:43:35 GMT -05:00
https://www.coursehero.com/file/62920914/Quiz-answers/
Low-risk investments tend to generate _______ amounts of investment income and wealth.
Low
Higher financial risk tolerance will help you engage in financial behaviors that have ______ long-term payoffs.
Great
Generally, healthy people work ______ hours and for a ________ period of years over their life span compared to those
with impaired health histories.
More; longer
Risk is the ______ associated with any physical, social, emotional, environmental, workplace, or financial activity.
Uncertainty
Which of the following includes things that need to happen along the way toward reaching a financial goal?
Financial objectives
Which of the following refers to one’s ability to understand and use personal finance information?
Financial knowledge
From the beginning of your career until retirement, human capital _______ and financial wealth _______.
increases; increases
Which of the following represents a SMART goal?
Have an income over $80,000 from personal savings, Social Security, and retirement plan assets.
Which of the following refers to the “R” in SMART goals?
Relevance
Which of the following provides an example of the actions of those who fall prey to status quo bias?
Underestimates the benefits that come from making a change
Which of the following refers to a long-term goal?
More than 10 years
If you dislike losing, especially money, you might be said to be which of the following?
Loss-averse.
Self-efficacy refers to
how well you believe that you can achieve a goal.
Chapter 3
Which of the following happens when you sell an asset for more than you paid for it?
Capital gain
When you make a deposit, you are essentially _______ the bank or credit union money.
Lending
Which of the following is a payment for a set period of time, typically a year?
Salary
What is the default legal structure of a self-employed individual?
This study source was downloaded by 100000864888199 from CourseHero.com on 07-13-2023 06:43:35 GMT -05:00
https://www.coursehero.com/file/62920914/Quiz-answers/
, Sole proprietorship.
What should you do to accumulate wealth?
All answers are correct
How much is the minimum wage in the United States?
$7.25 per hour
Which of the following refers to having your employer take money automatically from your paycheck and contribute it
directly to a retirement savings plan or a savings account?
Payroll deduction
Which of the following is a payment based on the sale of a product or service?
Commission
Which of the following is a characteristic of a self-employed individual?
All the above
Which of the following refers to your income before any taxes or other expenses are deducted from your paycheck?
Gross income
Which of the following indicates the percentage of income that you are actively saving?
Savings ratio
Which of the following refers to an investor’s share of the profits?
Dividend
To accumulate wealth, you need to generate a(n)
Surplus
Chapter 4
A(n) ________ represents a dollar-for-dollar reduction in an assessed tax liability.
Tax credit
Jen is in graduate school. Unfortunately, she does not qualify for the American Opportunity Credit. As an alternative, Jen
can claim the
Lifetime Learning Credit.
Which of the following refers to a tax that imposes the same tax rate on all taxpayers subject to the tax?
Flat taxes
Which of the following is a filing status?
Head of household.
Which of the following refers to financial obligations imposed on individuals and businesses by government entities?
taxes
Which of the following is more valuable for the taxpayer?
$1,000 tax credit.
Your marital status is determined as of what date in regard to your income taxes?
December 31
This study source was downloaded by 100000864888199 from CourseHero.com on 07-13-2023 06:43:35 GMT -05:00
https://www.coursehero.com/file/62920914/Quiz-answers/
