Ch 122: NMTA Social Science: Personal Finance Foundations

About This Chapter

Use our lessons to help you review information on the fundamentals of personal finance management as you prepare for the NMTA Social Science exam. These informative lessons may aid you in answering exam questions on this subject.

NMTA Social Science: Personal Finance Foundations - Chapter Summary

This chapter's lessons examine basic principles of personal finance, such as budgeting and tax planning, as well as facts on how the U.S. banking system works. The lessons examine the following topics to help you with these types of questions on the NMTA Social Science exam:

  • Using common economics terminology
  • Analyzing factors that affect personal financial decisions
  • Explaining the budgeting process
  • Developing a personal balance sheet
  • Discussing decisions involving credit management
  • Calculating the time value of money
  • Exploring the structure of the U.S. banking system

Our instructors are professionals who have developed enjoyable lessons and useful quizzes to aid in your review of this material. Our online format makes it possible to study as your schedule allows, even on a mobile device.

NMTA Social Science: Personal Finance Foundations - Chapter Objectives

In New Mexico, passing the NMTA Social Science exam is part of the certification requirements to teach this subject. The questions on personal finance are found in the exam's economics section, which makes up 12% of the total score.

All questions on the NMTA Social Science exam are multiple-choice, and the test is administered by computer. The quizzes that follow each of our lessons offer a chance to practice answering questions in this same format. They also provide an opportunity to check your knowledge of the subject and see if you need additional study before reporting to the testing center.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.

Other Chapters

Other chapters within the NMTA Social Science (303): Practice & Study Guide course