FCS 340 EXAM 1 ACTUAL TEST PAPER QUESTIONS CORRECT ANSWERS GRADED A PLUS
Question:
The authors suggested four answers to the question, "Why should I learn about family finance?"
Which is not one of the four reasons?
Answer:
Community: Becoming a stronger citizen and member of your community.
Question:
The second important question the authors suggested you ponder: "What are the profound principles
upon which the stewardship perspective is based?" Which is not one of the four stewardship
principles?
Answer:
Discipleship
Question:
Of the four stewardship principles, if followed wisely, which is our gift back to God?
Answer:
Accountability
Question:
The text suggests creating a budget that includes at least a percent allocation to long- term savings.
Answer:
10
Question:
, What does the author believe is the biggest financial mistake made by recent graduates?
Answer:
Buying a house beyond their means.
Question:
Most financial planners recommend worth of living expenses set aside in a savings or checking
account as an emergency fund.
Answer:
three to six months
Question:
In the reading, the story of Elder Robert D. Hales and his new bride was shared. He was in the air
force and they'd missed Christmas together. What did he want to buy his wife?
Answer:
A dress
Question:
What budget category do the authors suggest commonly gets overlooked?
Answer:
Miscellaneous
Question:
The authors recommend the investing mantra "get rich slowly." They recommend avoiding which of
the following strategies?
Answer:
Speculation
Question:
The authors suggested four answers to the question, "Why should I learn about family finance?"
Which is not one of the four reasons?
Answer:
Community: Becoming a stronger citizen and member of your community.
Question:
The second important question the authors suggested you ponder: "What are the profound principles
upon which the stewardship perspective is based?" Which is not one of the four stewardship
principles?
Answer:
Discipleship
Question:
Of the four stewardship principles, if followed wisely, which is our gift back to God?
Answer:
Accountability
Question:
The text suggests creating a budget that includes at least a percent allocation to long- term savings.
Answer:
10
Question:
, What does the author believe is the biggest financial mistake made by recent graduates?
Answer:
Buying a house beyond their means.
Question:
Most financial planners recommend worth of living expenses set aside in a savings or checking
account as an emergency fund.
Answer:
three to six months
Question:
In the reading, the story of Elder Robert D. Hales and his new bride was shared. He was in the air
force and they'd missed Christmas together. What did he want to buy his wife?
Answer:
A dress
Question:
What budget category do the authors suggest commonly gets overlooked?
Answer:
Miscellaneous
Question:
The authors recommend the investing mantra "get rich slowly." They recommend avoiding which of
the following strategies?
Answer:
Speculation
