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Chapter 1

# Chapter 1 - ViewAttempt1of1 Title CHAPTER 1 TEST 1 Mary...

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View Attempt 1 of 1 Title: CHAPTER 1 TEST 1. Mary Sander's new job is very demanding. She regularly works long hours and on the weekends. As a result, Mary has not had much time for her family and friends. This is an example of Student Response Value Correct Answer A . def lati on. 0 % B . fin anc ial op por tun ity cos t. 0 % C . per son al op por tun ity cos t. 1 0 0 % D . tim e val ue of 0 %

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Student Response Value Correct Answer mo ney . E . infl ati on. 0 % Score: 4/4 Comments: 2. You are planning to buy a house in five years. How much do you need to deposit today to have a \$10,000 down payment if your investment will make 6%? Student Response Value Correct Answer A.\$6,000 0% B.\$6,590 0% C.\$7,470 100% D.\$9,400 0% E.\$10,000 0% General Feedback: Present Value (Table 1-C), \$10,000 x .747 = \$7470. Score: 4/4 Comments: 3. A family spends \$40,000 on living expenses. With an annual inflation rate of 3 percent, they can expect to spend approximately _______ in three years.
Student Response Value Correct Answer A.\$40,300 0% B.\$41,200 0% C.\$42,000 0% D.\$43,720 100% E.\$46,000 0% General Feedback: Future value calculation (Table 1-A) \$40,000 x 1.093 = \$43,720. Score: 4/4 Comments: 4. The annual price increase for consumer goods and services measured by the Bureau of Labor Statistics is referred called ________. Student Response Value Correct Answer A.deflation 0% B.inflation 0% C.the consumer price index 100% D.the price calculator 0% E.goods and all of the above 0% Score: 4/4 Comments: 5.

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When prices are rising at a rate of 3 percent, the cost of products and services would double in ______ years. Student Response Value Correct Answer A.3 0% B.6 0% C.12 0% D.24 100% E.36 0% General Feedback: Rule of 72, 72/3 = 24 Score: 4/4 Comments: 6. One aspect of financial planning is to make sure you maintain adequate insurance coverage for your needs. Which aspect of financial planning does this deal with? Student Response Value Correct Answer A.Borrowing 0% B.Spending 0% C.Managing Risk 100% D.Investing 0% E.Retirement and Estate Planning 0% Score: 4/4 Comments:
7. One aspect of financial planning is to make wise decisions as to what to purchase and when to purchase it. Which aspect of financial planning does this deal with? Student Response Value Correct Answer A.Borrowing 0% B.Spending 100% C.Managing Risk 0% D.Investing 0% E.Retirement and Estate Planning 0% Score: 4/4 Comments: 8. Melanie Walsh likes to go to the movies once a week. When she is at the movies, she generally gets large popcorn and a drink. Melanie wants to be sure that she sets aside money each week so she can continue going to the movies. What type of goal would this be for Melanie? Student Response Value Correct Answer A.Consumable-products goal 100% B.Durable-products goal 0% C.Intangible goal 0% D.Intermediate goal 0% E.Long term goal 0% Score: 4/4 Comments:

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Chapter 1 - ViewAttempt1of1 Title CHAPTER 1 TEST 1 Mary...

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