CFM | Set 2 Questions and Answers with 100% Correct Answers | Latest Version
Question 1.
The willingness to give up something you want now in order to get something better in the
future.
Correct Answer: Delayed Gratification
Question 2.
Short-Term Goal
Correct Answer: A goal to be achevied within the next three months
Question 3.
The process of setting spending priorities, defining goals and developing a plan to acheive
them, and then putting the plan into action.
Correct Answer: Financial Planning
Question 4.
Intermediate-Term Goal
Correct Answer: A goal that is set for three months to a year.
Question 5.
Satellite Decisions
Correct Answer: Smaller decisions that can result from a major decision.
Question 6.
Things that make life more interesting and fun but that people can live without if they
have to.
Correct Answer: Wants
Question 7.
Goal
Correct Answer: A statement of something a person wants or needs to do.
Question 8.
Values
Correct Answer: The beliefs, qualities or standards that you condsider important
or desirable.
Question 9.
Cash Flow
, Correct Answer: Movement of money you receive and the money you spend
Question 10.
Also called "Take-Home Pay"; It's the amount of income left after payroll deductions.
Correct Answer: Net Income
Question 11.
Expense
Correct Answer: An amount of moneyspent to buy something or do something.
Question 12.
A payroll deduction collected by employers by law and sent to the federal government to
provide a small income and other services to the elderly, disabled Americans and
orphaned minors
Correct Answer: Social Security Tax
Question 13.
Spending Plan
Correct Answer: Another term for budget
Question 14.
Fixed Expenses
Correct Answer: Expenses that cost the same amount every time
Question 15.
Income
Correct Answer: Money you receive
Question 16.
Gross Income
Correct Answer: The total amount of income from wages before any payroll
deductions.
Question 17.
Budget
Correct Answer: A spending plan for managing money during a given period of
time.
Question 1.
The willingness to give up something you want now in order to get something better in the
future.
Correct Answer: Delayed Gratification
Question 2.
Short-Term Goal
Correct Answer: A goal to be achevied within the next three months
Question 3.
The process of setting spending priorities, defining goals and developing a plan to acheive
them, and then putting the plan into action.
Correct Answer: Financial Planning
Question 4.
Intermediate-Term Goal
Correct Answer: A goal that is set for three months to a year.
Question 5.
Satellite Decisions
Correct Answer: Smaller decisions that can result from a major decision.
Question 6.
Things that make life more interesting and fun but that people can live without if they
have to.
Correct Answer: Wants
Question 7.
Goal
Correct Answer: A statement of something a person wants or needs to do.
Question 8.
Values
Correct Answer: The beliefs, qualities or standards that you condsider important
or desirable.
Question 9.
Cash Flow
, Correct Answer: Movement of money you receive and the money you spend
Question 10.
Also called "Take-Home Pay"; It's the amount of income left after payroll deductions.
Correct Answer: Net Income
Question 11.
Expense
Correct Answer: An amount of moneyspent to buy something or do something.
Question 12.
A payroll deduction collected by employers by law and sent to the federal government to
provide a small income and other services to the elderly, disabled Americans and
orphaned minors
Correct Answer: Social Security Tax
Question 13.
Spending Plan
Correct Answer: Another term for budget
Question 14.
Fixed Expenses
Correct Answer: Expenses that cost the same amount every time
Question 15.
Income
Correct Answer: Money you receive
Question 16.
Gross Income
Correct Answer: The total amount of income from wages before any payroll
deductions.
Question 17.
Budget
Correct Answer: A spending plan for managing money during a given period of
time.
