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IntroductionxztoxzPersonalxzFinancexzBeginningxzYourxzFinancialxzJourney,xz3rdxzEditionxzJohnxzE.xzGrable,xz
LancexzPalmer




1

,2

,Chapterxz1-10

Chapterxz1 BeginningxzYourxzFinancialxzJourney:xzThexzInteriorxzFinancexzPointxzofxzView

1) Whichxzofxzthexzfollowingxzrefersxztoxzone'sxzabilityxztoxzunderstandxzandxzusexzpersonalxzfin
ancexzinformation?
A) Financialxzriskxztolerance.
B) Financialxzwell-being.
C) Financialxzknowledge.
D) Financialxzability
.xzAnswer:x z C
Explanation:x z Financialxzknowledgexzisxzthexzabilityxztoxzunderstandxzpersonalxzfinancexzinformation.xzK
nowingxzwhoxzyouxzare,xzwherexzyouxzwantxztoxzgo,xzandxzwhatxzskillsxzyouxzcurrentlyxzpossessxzarexzessentialxz
factorsxzshapingxzyourxzfinancialxzjourney.
Diff:xz1
LO:x z 1.1,xzSectionxz1.
1xzBloom:x z K
AACSBxz/xzIMA:x z none;xzno
nexzAICPA:x z FC:xznone
Min:x z x z 1

2) Peoplexzwhoxzbelievexzthatxzwhatxzhappensxztoxzthemxzisxzbasedxzonxzfatexzorxzluckxzmightxzviewxztheirxzfinan
cialxzjourneyxzasxzbeingxzuncertain.xzThisxzisxzanxzexamplexzof
A) financialxzriskxztolerance.
B) financialxzliteracy.
C) feelingsxzofxzcontrol.
D) financialxzability
.xzAnswer:x z C
Explanation:x z Feelingsxzofxzcontrolxzisxzthexzamountxzofxzcontrolxzyouxzfeelxzyouxzhavexzwhenxzmakingxz
financialxzdecisions.xzPeoplexzwhoxzbelievexzthatxzwhatxzhappensxztoxzthemxzisxzbasedxzonxzluckxzorxzfatexz
mightxzviewxztheirxzfinancialxzjourneyxzasxzuncertain.
Diff:xz1
LO:x z 1.1,xzSectionxz1.
1xzBloom:x z C
AACSBxz/xzIMA:x z none;xzno
nexzAICPA:x z FC:xznone
Min:x z x z 1




3

, 3) Internalxzfinancexzincludesxzyour
A) financialxzknowledge.
B) financialxzriskxztolerance.
C) feelingsxzofxzcontrol.
D) Allxzofxzthesexzanswerxzchoicesxzarexzcorrec
t.xzAnswer:x z D
Explanation:x z Internalxzfinancexzisxzessentiallyxzthexzcombinationxzofxzfinancialxzknowledge,xzfinancia
lxzriskxztolerance,xzandxzfeelingsxzofxzcontrol.
Diff:xz1
LO:x z 1.1,xzSectionxz1.
1xzBloom:x z K
AACSBxz/xzIMA:x z none;xzno
nexzAICPA:x z FC:xznone
Min:x z x z 1

4) Whichxzofxzthexzfollowingxzrefersxztoxzyourxzconfidencexzandxzpeacexzofxzmindxzregardingxzyourxzfina
ncialxzsituation?
A) Financialxzliteracy.
B) Financialxzwell-being.
C) Financialxzknowledge.
D) Financialxzability
.xzAnswer:x z B
Explanation:x z Financialxzwell-
beingxzisxzyourxzconfidencexzandxzpeacexzofxzmindxzregardingxzyourxzfinancialxzsituation.xzYourxzfinancialxz
well-
beingxzwillxzincreasexzasxzyouxzapplyxzyourxzfinancialxzknowledge,xzdevelopxzskills,xzandxzorganizexzyourxz
financesxztoxzachievexzyourxzpersonalxzgoals.
Diff:xz2
LO:x z 1.1,xzSectionxz1.
1xzBloom:x z C
AACSBxz/xzIMA:x z none;xzno
nexzAICPA:x z FC:xznone
Min:x z x z 1

5) Inxzadditionxztoxzfinancialxzknowledge,xzwhichxzofxzthexzfollowingxzisxzimportantxzinxzshapingxzyourxzvie
wxzofxzthexzfinancialxzworld?
A) Financialxzriskxztolerance,xzonly.
B) Feelingsxzofxzcontrol,xzonly.
C) Financialxzwell-beingxzonly.
D) Financialxzriskxztolerancexzandxzfeelingsxzofxzcontro
l.xzAnswer:x z D
Explanation:x z Ourxzfinancialxzdecisionsxzcanxzbexzbasedxzonxzaxzbiasedxzviewxzofxzthexzfinancialxzworld,xz
whichxzisxzbasedxzonxzthexzcombinationxzofxzourxzfinancialxzknowledge,xzfinancialxzriskxztolerance,xzandxz
feelingsxzofxzxzcontrol.
Diff:xz2
LO:x z 1.1,xzSectionxz1.
1xzBloom:x z C
AACSBxz/xzIMA:x z none;xzno
4