Which of the following goals is most clearly stated?      A. Save $1,000 in one year for a vacation to San Diego.B. Pay cash for a car.C. Save enough for a down payment on a house in five years.D. Pay off all credit card balances.

Character measures…      A. your ability to repay a loan.B. how much debt you currently have.C. your sense of responsibility with respect to debt payment.D. how often and on what do you use your credit card.

One million dollars today should be able to buy the same amount of goods and services 30  years from now.      A. TRUEB. FALSE

What are short-term notes of debt issued by the federal government and mature in 3-12 months, commonly called?      A. T-AccountsB. T-NotesC. T-BondsD. T-BillsE. None of the above are correct.

Which of the following is NOT one of the Financial planning process steps?      A. Differentiate your needs from your wants.B. Define your financial goals.C. Develope a plan of action.D. Evaluate your financial health.E. All of the above are steps of Financial planning process.

A debit card is something of a cross between a credit card and a checking account.      A. TRUEB. FALSE

Balance sheet tells you …      A. Where is your money coming from and where is it going.B. How much taxes you might owe at the end of the year.C. Your financial position on a given date.D. How much do you have leftover (savings or overdraft) at the end of the month.

Of the following possible sources of credit, which typically has the lowest borrowing rates?      A. commercial bank      B. credit unionC. savings and loans      D. personal finance company

Current liabilities are those that can typically be paid off in full within twelve months.      A. TRUEB. FALSE

Suppose Si’mone has an car that is worth $15,000, has $13,000 in his checking account, has a student loan with a balance of $5,000 and balance on her car loan is $8,000, monthly rent is $800 and other monthly expenses of $1,200. What is her net worth?      A. $15,000B. $2,000C. $13,000D. $25,000E. none of the above.