Question 1

Which of the following financial documents would most likely be stored in a safety deposit box?

Accepted Answer

A)   FT-4 slips
B)   Personal financial statements
C)   Warranties
D)   Stock certificates
E)   Checking account statementsF) None of the above
G) All of the above

Question 2

Which of the following presents a summary of income and outflows for a period of time?

Accepted Answer

A)   A cash flow statement
B)   A bank statement
C)   An investment summary
D)   balance sheet
E)   An asset reportF) A) and C)
G) B) and D)

Question 3

What types of financial records and documents should be kept in a safety deposit box?

Accepted Answer

Examples of items stored in a safe-depos...

Question 4

When one money management decision is selected,something else must be given up.

Accepted Answer

A) True 
 B)False

Question 5

A person's net worth would increase as a result of

Accepted Answer

A)   decreased value on investments
B)   reduced earnings.
C)   increased spending for current living expenses.
D)   decreased value of personal possessions.
E)   reduced amounts owed to others.F) A) and D)
G) None of the above

Question 6

During the last month,Mary Jane had expenses of $5,000 and an increase in net worth of $700.This means Mary Jane's income for the month was:

Accepted Answer

A)   $700.
B)   $4,300.
C)   $5,000.
D)   $5,700.
E)   $5,200.F) A) and C)
G) C) and D)

Question 7

Opportunity costs are not only associated with money management decisions involving long-term financial security.

Accepted Answer

A) True 
 B)False

Question 8

A decrease in net worth would be the result of:

Accepted Answer

A)   income greater than expenses for a month.
B)   expenses greater than income for a month.
C)   assets greater than expenses.
D)   increased earnings on the job.
E)   income and expenses equal for a month.F) C) and D)
G) A) and D)

Question 9

A personal cash flow statement presents income and outflows of cash for a given time period,such as a month.

Accepted Answer

A) True 
 B)False

Question 10

Financial records that may need to be referred to on a regular basis should not be kept in a safety deposit box.

Accepted Answer

A) True 
 B)False

Question 11

Items with a monetary worth are referred to as:

Accepted Answer

A)   liabilities.
B)   variable expenses.
C)   net worth.
D)   income.
E)   assets.F) A) and B)
G) A) and E)

Question 12

Improvements in a person's financial position are the result of:

Accepted Answer

A)   increased liabilities.
B)   reductions in earnings.
C)   increased savings and investments.
D)   increased purchases on credit.
E)   lower amounts deposited in savings.F) A) and B)
G) A) and C)

Question 13

Insolvency is a result of having an unequal balance of tangible and intangible goods.

Accepted Answer

A) True 
 B)False

Question 14

The difference between the amount budgeted and the actual amount is called a

Accepted Answer

A)   financial plan.
B)   current liability.
C)   change in net worth.
D)   budget variance.
E)   variable living expense.F) B) and E)
G) A) and D)

Question 15

An example of a personal and employment document is a:

Accepted Answer

A)   Social Insurance card.
B)   passbook.
C)   budget
D)   property tax bill.
E)   lease.F) A) and B)
G) C) and D)

Exam 2: Money Management Skills

During the last month,Mary Jane had expenses of $5,000 and an increase in net worth of $700.This means Mary Jane's income for the month was:

Correct Answer
verified

Which of the following financial documents would most likely be stored in a safety deposit box?

Correct Answer
verified

Items with a monetary worth are referred to as:

Correct Answer
verified

A personal cash flow statement presents income and outflows of cash for a given time period,such as a month.

Correct Answer
verified

The difference between the amount budgeted and the actual amount is called a

Correct Answer
verified

Opportunity costs are not only associated with money management decisions involving long-term financial security.

Correct Answer
verified

An example of a personal and employment document is a:

Correct Answer
verified

Insolvency is a result of having an unequal balance of tangible and intangible goods.

Correct Answer
verified

A person's net worth would increase as a result of

Correct Answer
verified

When one money management decision is selected,something else must be given up.

Correct Answer
verified

A decrease in net worth would be the result of:

Correct Answer
verified

Which of the following presents a summary of income and outflows for a period of time?

Correct Answer
verified

What types of financial records and documents should be kept in a safety deposit box?

Correct Answer
verified
Examples of items stored in a safe-depos...
View Answer

Financial records that may need to be referred to on a regular basis should not be kept in a safety deposit box.

Correct Answer
verified

Improvements in a person's financial position are the result of:

Correct Answer
verified

Exam 2: Money Management Skills

During the last month,Mary Jane had expenses of $5,000 and an increase in net worth of $700.This means Mary Jane's income for the month was:

Correct AnswerverifiedShow Answer

Which of the following financial documents would most likely be stored in a safety deposit box?

Correct AnswerverifiedShow Answer

Items with a monetary worth are referred to as:

Correct AnswerverifiedShow Answer

A personal cash flow statement presents income and outflows of cash for a given time period,such as a month.

Correct AnswerverifiedShow Answer

The difference between the amount budgeted and the actual amount is called a

Correct AnswerverifiedShow Answer

Opportunity costs are not only associated with money management decisions involving long-term financial security.

Correct AnswerverifiedShow Answer

An example of a personal and employment document is a:

Correct AnswerverifiedShow Answer

Insolvency is a result of having an unequal balance of tangible and intangible goods.

Correct AnswerverifiedShow Answer

A person's net worth would increase as a result of

Correct AnswerverifiedShow Answer

When one money management decision is selected,something else must be given up.

Correct AnswerverifiedShow Answer

A decrease in net worth would be the result of:

Correct AnswerverifiedShow Answer

Which of the following presents a summary of income and outflows for a period of time?

Correct AnswerverifiedShow Answer

What types of financial records and documents should be kept in a safety deposit box?

Correct AnswerverifiedExamples of items stored in a safe-depos...View AnswerShow Answer

Financial records that may need to be referred to on a regular basis should not be kept in a safety deposit box.

Correct AnswerverifiedShow Answer

Improvements in a person's financial position are the result of:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Examples of items stored in a safe-depos...
View Answer

Correct Answer
verified

Correct Answer
verified