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Financial Resource Management Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. What is a problem with over-consumption?

Question 2 2. What is the term that economists use to describe the theoretical consumer of needs and wants?

Question 3 3. What is consumer lock-in?

Question 4 4. What's the best explanation of needs and wants?

Question 5 5. Which one of the following is never fulfilled?

Page 2

Question 6 6. Which of the following lists is in the correct order, from least to most, of the market value of each of these financial assets?

Question 7 7. Which of the following BEST explains the contractual obligation associated with stock?

Question 8 8. George reaches into his wallet and pulls out a $20 US bill to pay for his coffee. By using currency to make a purchase, what is George actually doing?

Question 9 9. What are the conditions for something to qualify as a financial asset?

Question 10 10. Which of the following financial assets is a debt instrument - a promise by the issuer to pay the holder their principal plus interest at some future date?

Page 3

Question 11 11. What is the cost of credit?

Question 12 12. Which of the following is true of liquidity?

Question 13 13. Which of these statements best describes liquidity?

Question 14 14. Which of the following items is the most liquid?

Question 15 15. Which of the following is the best definition of financial credit?

Page 4

Question 16 16. Which is true of a fiscal policy?

Question 17 17. Which of the following is true during a period of tight monetary policy?

Question 18 18. The government is concerned that interest rates are stagnant. Why would it implement a new monetary policy?

Question 19 19. Which of the following is true during a period of loose monetary policy?

Question 20 20. What is the relationship between interest rates and consumer spending?

Page 5

Question 21 21. How does interest detract from your financial goal?

Question 22 22. Valerie intends to pay off her furniture loan in 15 months. This is an example of which type of goal?

Question 23 23. Financial goals are targets, usually driven by specific _____ financial needs.

Question 24 24. What is the first step in setting your financial goals?

Question 25 25. You invest $100 today, and one year from now you will have $112. What is the $112 referred to as?

Page 6

Question 26 26. Janie's completing a personal balance sheet and is trying to determine the type of liability for her mortgage loan. What type is it?

Question 27 27. Joan is trying to get a loan. She has a negative net worth. Why might she still get the loan?

Question 28 28. Which of the following is the best formula to calculate net worth?

Question 29 29. Which financial statement is used to find assets, liabilities, and net worth?

Question 30 30. Why is cash listed on the balance sheet first?

Financial Resource Management Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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