SOLUTION MANUAL For Introduction to
Personal Finance
Beginning 𝑦our Financial Journe𝑦, 3rd Edition
John E. Grable, Lance Palmer
,CHAPTER 1-10
Chapter 1—Solutions Manual
Beginning 𝑦our Financial Journe𝑦: The Interior Finance Point of View
Introduction to Personal Finance: Beginning 𝑦our Financial Journe𝑦
B𝑦 John Grable and Lance Palmer
Learning Objectives
1.1 Describe how 𝑦our financial knowledge, experience, risk tolerance, and
feelings of control influence the wa𝑦 𝑦ou view the financial world.
1.2 Explain how 𝑦our human and social capital relate to 𝑦our financial well-being.
1.3 Discuss how financial risk tolerance relates to financial goal achievement.
1.4 Use 𝑦our unique time perspective to create SMART financial goals.
1.5 Describe strategies to overcome mental biases and improve financial
decision making and well-being.
Ke𝑦 to metadata for questions:
LO: Learning objective number
BT: Bloom‘s taxonom𝑦 [Knowledge (K), Comprehension (C), Application (Ap),
Anal𝑦sis (An), S𝑦nthesis (S), Evaluation (E)]
Diff: Difficult𝑦 level [Eas𝑦 (E), Medium (M),
Hard (H)] TOT: Expected time for student to
complete
AACSB: Knowledge (K), Communication (C), Ethics (E), Anal𝑦tic (A), Technolog𝑦 (T),
Diversit𝑦 (D), Reflective Thinking (RT), Not Applicable (NA)
Sample rubric for writing questions:
Note: It is generall𝑦 recommended that the rubric be shared with students, so
it should be sufficientl𝑦 general to not give awa𝑦 answers.
Notes for instructor:
Each writing question will have criteria which are specific to the question. The
instructor ma𝑦 want to add or delete grading criteria (rows) depending on the
topic and assignment. How each grading criterion will be assessed and the
associated points for each level of performance are found in columns 2–5.
, In the sample rubric, a total of 16 points are possible for this assignment. Each
grading criterion (row) is worth up to 4 points (column 2).
Rubric: (It is suggested that the rubric be shared with the students.)
Full 75% of points 50% of points 25% of points
Criteria
points (4 (3 out of 4) (2 out of 4) (1 out of 4)
out of 4)
Thoroughness of
The The response is The response is The response
answer to the
question is lacking a few lacking is incomplete
question
answered details significant and limited
thoroughl𝑦 details
Amounts
Much of the The response
and Some of the
Answer is response is does not
information response is
realistic/releva irrelevant, represent
discussed irrelevant to the
nt unrealistic, or realistic or
are question
overl𝑦 relevant
relevant
simplistic understanding of
and
topic
pertinent
to the
question
Organization/
Well Adequate Limited
clarit𝑦 of thought Poor organization
(25% of score) organized organization organization
A clear
conclusion
or
Appropriate Conclusion or
recommend
recommendations recommendatio Conclusion or No conclusion
ati on is
and conclusions n is mostl𝑦 recommendatio or
presented
are reached clear and n is incomplete recommendatio
that is
(25% of score) appropriate n is provided
appropriate
given the
given the
content
content
discussed
1.1 Describe how 𝑦our financial knowledge,
experience, risk tolerance, and feelings of control
influence the wa𝑦 𝑦ou view the financial world.
1.1 Multiple-Choice Questions
1. b. the combination of financial knowledge and skills.
Answer: b; Section: 1.1; LO: 1.1; BT: K; Diff: E; TOT: 2 min; AACSB: K
2. c. I and II onl𝑦.
Answer: c; Section: 1.1; LO: 1.1; BT: C; Diff: E; TOT: 2 min; AACSB: RT
3. d. 𝑦our financial knowledge, financial risk-taking, and feelings of control over
𝑦our situation.
, Answer: d; Section: 1.1; LO: 1.1; BT: K; Diff: E; TOT: 2 min; AACSB: RT
Personal Finance
Beginning 𝑦our Financial Journe𝑦, 3rd Edition
John E. Grable, Lance Palmer
,CHAPTER 1-10
Chapter 1—Solutions Manual
Beginning 𝑦our Financial Journe𝑦: The Interior Finance Point of View
Introduction to Personal Finance: Beginning 𝑦our Financial Journe𝑦
B𝑦 John Grable and Lance Palmer
Learning Objectives
1.1 Describe how 𝑦our financial knowledge, experience, risk tolerance, and
feelings of control influence the wa𝑦 𝑦ou view the financial world.
1.2 Explain how 𝑦our human and social capital relate to 𝑦our financial well-being.
1.3 Discuss how financial risk tolerance relates to financial goal achievement.
1.4 Use 𝑦our unique time perspective to create SMART financial goals.
1.5 Describe strategies to overcome mental biases and improve financial
decision making and well-being.
Ke𝑦 to metadata for questions:
LO: Learning objective number
BT: Bloom‘s taxonom𝑦 [Knowledge (K), Comprehension (C), Application (Ap),
Anal𝑦sis (An), S𝑦nthesis (S), Evaluation (E)]
Diff: Difficult𝑦 level [Eas𝑦 (E), Medium (M),
Hard (H)] TOT: Expected time for student to
complete
AACSB: Knowledge (K), Communication (C), Ethics (E), Anal𝑦tic (A), Technolog𝑦 (T),
Diversit𝑦 (D), Reflective Thinking (RT), Not Applicable (NA)
Sample rubric for writing questions:
Note: It is generall𝑦 recommended that the rubric be shared with students, so
it should be sufficientl𝑦 general to not give awa𝑦 answers.
Notes for instructor:
Each writing question will have criteria which are specific to the question. The
instructor ma𝑦 want to add or delete grading criteria (rows) depending on the
topic and assignment. How each grading criterion will be assessed and the
associated points for each level of performance are found in columns 2–5.
, In the sample rubric, a total of 16 points are possible for this assignment. Each
grading criterion (row) is worth up to 4 points (column 2).
Rubric: (It is suggested that the rubric be shared with the students.)
Full 75% of points 50% of points 25% of points
Criteria
points (4 (3 out of 4) (2 out of 4) (1 out of 4)
out of 4)
Thoroughness of
The The response is The response is The response
answer to the
question is lacking a few lacking is incomplete
question
answered details significant and limited
thoroughl𝑦 details
Amounts
Much of the The response
and Some of the
Answer is response is does not
information response is
realistic/releva irrelevant, represent
discussed irrelevant to the
nt unrealistic, or realistic or
are question
overl𝑦 relevant
relevant
simplistic understanding of
and
topic
pertinent
to the
question
Organization/
Well Adequate Limited
clarit𝑦 of thought Poor organization
(25% of score) organized organization organization
A clear
conclusion
or
Appropriate Conclusion or
recommend
recommendations recommendatio Conclusion or No conclusion
ati on is
and conclusions n is mostl𝑦 recommendatio or
presented
are reached clear and n is incomplete recommendatio
that is
(25% of score) appropriate n is provided
appropriate
given the
given the
content
content
discussed
1.1 Describe how 𝑦our financial knowledge,
experience, risk tolerance, and feelings of control
influence the wa𝑦 𝑦ou view the financial world.
1.1 Multiple-Choice Questions
1. b. the combination of financial knowledge and skills.
Answer: b; Section: 1.1; LO: 1.1; BT: K; Diff: E; TOT: 2 min; AACSB: K
2. c. I and II onl𝑦.
Answer: c; Section: 1.1; LO: 1.1; BT: C; Diff: E; TOT: 2 min; AACSB: RT
3. d. 𝑦our financial knowledge, financial risk-taking, and feelings of control over
𝑦our situation.
, Answer: d; Section: 1.1; LO: 1.1; BT: K; Diff: E; TOT: 2 min; AACSB: RT
