Test Bank For Personal Finance 12th Edition By Garman
ISBN-10: 1133595839, ISBN-13: 978-1133595830
| 1. Financial literacy is your knowledge of facts, concepts, principles, and technological tools that are fundamental to be smart about money.
| ANSWER: |
True |
| POINTS: |
1 |
| DIFFICULTY: |
Easy |
| REFERENCES: |
Recognize the Keys to Achieving Financial Success |
| KEYWORDS: |
Bloom’s:Remembering |
| OTHER: |
Analytic |
| NOTES: |
1.1 |
|
| 2. Financial responsibility is your knowledge of facts, concepts, principles, and technological tools that are fundamental to be smart about money.
| ANSWER: |
False |
| POINTS: |
1 |
| DIFFICULTY: |
Easy |
| REFERENCES: |
Recognize the Keys to Achieving Financial Success |
| KEYWORDS: |
Bloom’s:Remembering |
| OTHER: |
Analytic |
| NOTES: |
Financial responsibility means that you are accountable for your financial well-being and strive to make good financial decisions
1.1 |
|
| 3. Personal finance is the study of personal and family resources considered important in achieving financial success.
| ANSWER: |
True |
| POINTS: |
1 |
| DIFFICULTY: |
Easy |
| REFERENCES: |
Recognize the Keys to Achieving Financial Success |
| KEYWORDS: |
Bloom’s:Remembering |
| OTHER: |
Analytic |
| NOTES: |
1.1 |
|
| 4. Financial success is marked by having high wealth.
| ANSWER: |
False |
| POINTS: |
1 |
| DIFFICULTY: |
Moderate |
| REFERENCES: |
Recognize the Keys to Achieving Financial Success |
| KEYWORDS: |
Bloom’s:Understanding |
| OTHER: |
Analytic |
| NOTES: |
financial success is the achievement of financial aspirations that are desired, planned, or attempted.
1.1 |
|
| 5. Financial security is marked by having high income.
| ANSWER: |
False |
| POINTS: |
1 |
| DIFFICULTY: |
Moderate |
| REFERENCES: |
Recognize the Keys to Achieving Financial Success |
| KEYWORDS: |
Bloom’s:Understanding |
| OTHER: |
Analytic |
| NOTES: |
financial security provides the comfortable feeling that your financial resources will be adequate to fulfill any needs you have as well as most of your wants.
1.1 |
|
| 6. By saving and investing, people are much more likely to have funds available for future consumption.
| ANSWER: |
True |
| POINTS: |
1 |
| DIFFICULTY: |
Easy |
| REFERENCES: |
Recognize the Keys to Achieving Financial Success |
| KEYWORDS: |
Bloom’s:Understanding |
| OTHER: |
Analytic |
| NOTES: |
1.1 |
|
| 7. One’s standard of living comprises all his or her current consumption.
| ANSWER: |
False |
| POINTS: |
1 |
| DIFFICULTY: |
Moderate |
| REFERENCES: |
Recognize the Keys to Achieving Financial Success |
| KEYWORDS: |
Bloom’s:Understanding |
| OTHER: |
Analytic |
| NOTES: |
current consumption is one’s level of living. Standard of living is what you aspire to achieve.
1.1 |
|
| 8. Your standard of living is where you would like to be and your level of living is where you actually are.
| ANSWER: |
True |
| POINTS: |
1 |
| DIFFICULTY: |
Easy |
| REFERENCES: |
Recognize the Keys to Achieving Financial Success |
| KEYWORDS: |
Bloom’s:Remembering |
| OTHER: |
Analytic |
| NOTES: |
1.1 |
|
| 9. You cannot build financial security or wealth unless you spend less than you earn.
| ANSWER: |
True |
| POINTS: |
1 |
| DIFFICULTY: |
Moderate |
| REFERENCES: |
Recognize the Keys to Achieving Financial Success |
| KEYWORDS: |
Bloom’s:Understanding |
| OTHER: |
Analytic |
| NOTES: |
1.1 |
|
| 10. A business cycle is a pattern of economic activity that includes an expansion, peak, contraction, and trough.
| ANSWER: |
True |
| POINTS: |
1 |
| DIFFICULTY: |
Easy |
| REFERENCES: |
Understand How the Economy Affects Your Personal Financial Success |
| KEYWORDS: |
Bloom’s:Remembering |
| OTHER: |
Analytic |
| NOTES: |
1.2 |
|
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