Topic 1.1
Topic 1.2
Topic 1.3
Topic 1.4
Topic 1.5
100

Internal finances include your: 

a. financial knowledge.

b. feelings about money.

c. attitudes about money.

d. all the above

d. all the above

100

Human capital is your most valuable 

a. asset 

b. liability 

c. skill

d. ability 

a. asset

100

Your willingness to engage in a risky behavior that entails the possibility of a financial loss is ____

a. loss-avoidance

b. risk tolerance

c. feelings of control

d. risk-taking

b. risk tolerance

100

What do the letters of S-M-A-R-t stand for?

S- Specific

M- Measurable 

A- Attainable 

R-Relevant

T-Timely 

100

Which of the following goes with pre-committing to decisions :

a. using deadlines

b. pay bills right away

c. financial planner

d. focusing on the small things

a. using deadlines

200

What is GDP?

Gross Domestic Product

200

Social capital includes which of the following 

a. human capital and networking

b. formal networks and friend groups

c. informal networks and formal networks

d. none of the above

c. informal networks and formal networks

200

Your cognitive evaluation of the potential gains and losses associated with a course of action is referred to as what? 

a. risk-taking

b. project think

c. loss-aversion 

d. risk perception 

d. risk perception

200

How long are long-term goals? 

a. 9 years

b. 10 plus years

c. 2 days

d. 3 months

b. 10 plus years

200

Heuristics is based on what type of experience

a. yesterday 

b. past

c. not experience-based

d. future

b. past

300

How much of GDP is consumer spending?

a. 46%

b. 50%

c. 60%

d. 66%

d. 66%

300

Examples of human capital including which of the following 

a. formal education

b. health

c. skill development 

d. All of the above

d. All of the above

300

The relationship between wealth accumulation and risk tolerance is referred to as what? 

a. equal

b. no result

c. positive

d. negative

c. positive

300

Which of the following refers to the time between creating a goal and actually achieving the goal?

a. Time in the middle

b. Goal time horizon

c. Time to save

d. timeline 

b. Goal time horizon

300

What does status quo bias mean? 

a. liking to keep things exactly the same

b. experience-based ideas

c. loves to make change

d. hates losing

a. liking to keep things exactly the same

400

How does consumer spending affect GDP?

a.Spending decrease, GDP increase

b.spending increase, GDP decrease

c.spending increase, GDP increase

d.no relationship

c.spending increase, GDP increase

400

Individuals with a professional degree expect to earn what amount more than those with only a high school diploma over a lifetime.

a. $40,000

b. $1.5 million

c. $ 2 million

d. $ 10 billion

c. $ 2 million

400

What percent of time did the stock market generate a positive annual return from 1824-2013

a. 45%

b. 120%

c. 71%

d. 47%

c. 71%

400

What is included in your compass? 

a. short-term goals

b. long-term goals

c. daily tasks

d. both short term goals and daily tasks.

d. both short term goals and daily tasks.

400

What term matches the following definition the best? "becoming over confident in future decision-making"

a. confirmatory bias

b. status quo bias

c. procrastinating 

d. optimism bias

a. confirmatory bias

500

What is your internal world view of finances? (HINT: think of the window in the textbook)

Feelings of control,financial knowledge and  financial risk tolerance

500

As you age, human capital ______ and financial wealth____

a. increase; increase

b. increase; decrease

c. decrease; decrease

d. decrease; increase

d. decrease; increase

500

Higher financial risk tolerance will help you engage in financial behaviors that have ____ long-term pay-offs 

a. lower

b. equal

c. greater

d. none of the above

c. greater

500

Identify a statement that represents a specific goal 

a. Retire at age 70 with 100,000 annual income

b. It will happen in three months

c. I will start saving tomorrow

d. I do not know what I want

a. Retire at age 70 with 100,000 annual income

500

What are the steps for the decision making model? Please list out.

1.Identify the problem or issue

2.Gather data

3.Analyze the situation and data

4.Monitor decision outcomes

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