Page 1 of 65
WGU D363 Personal Finance OBJECTIVE ASSESMENT
EXAM QUESTIONS AND CORRECT ANSWERS LATEST
UPDATE THIS YEAR NEW!!
WGU D363 Personal Finance OA
Mei receives $5,000 per month in after-tax pay. She is reviewing the following information
for the current month.
Category (Income) /Expense
Income ($5,000)
Rent $1,200
Electricity $150
Automobile loan $250
Groceries $150
Internet $60
Mobile Phone $80
Which type of financial statement is Mei reviewing?
Net worth statement
1
,Page 2 of 65
Cash equivalent statement
Cash-flow statement
Balance sheet
Cash-flow statement
Lists out all income and expenses for a given period.
Net worth statement
Cash equivalent statement
Cash-flow statement
Balance sheet
Cash-flow statement
Fatima noticed that she consistently has $300 left over each month, so she wants to start
saving money. She researches the different types of accounts she could open. Fatima decides
to open a money market account.
Why would Fatima choose to open a money market account over a traditional savings
account?
2
,Page 3 of 65
A money market pays a higher interest rate.
A traditional savings account requires a high minimum balance.
A money market is covered by the Federal Deposit Insurance Corporation (FDIC).
Traditional savings account deposits are invested into financial markets.
A money market pays a higher interest rate.
Sophia is creating a personal budget. She starts by listing her monthly income and expenses.
Which financial statement did Sophia create?
Cash-flow statement
Net worth
Financial ratio
Balance sheet
Cash-flow statement
3
, Page 4 of 65
A summary of income and expenses for a given period of time.
Cash-flow statement
Net worth
Financial ratio
Balance sheet
Cash-flow statement
Malik is reviewing a list of assets and liabilities. He uses the information shown in the table to
evaluate his net worth.:
Total Assets $45,000
Total Liabilities $22,000
Net Worth $23,000
Which financial statement is Malik reviewing?
Income and expense statement
Cash-flow statement
4
WGU D363 Personal Finance OBJECTIVE ASSESMENT
EXAM QUESTIONS AND CORRECT ANSWERS LATEST
UPDATE THIS YEAR NEW!!
WGU D363 Personal Finance OA
Mei receives $5,000 per month in after-tax pay. She is reviewing the following information
for the current month.
Category (Income) /Expense
Income ($5,000)
Rent $1,200
Electricity $150
Automobile loan $250
Groceries $150
Internet $60
Mobile Phone $80
Which type of financial statement is Mei reviewing?
Net worth statement
1
,Page 2 of 65
Cash equivalent statement
Cash-flow statement
Balance sheet
Cash-flow statement
Lists out all income and expenses for a given period.
Net worth statement
Cash equivalent statement
Cash-flow statement
Balance sheet
Cash-flow statement
Fatima noticed that she consistently has $300 left over each month, so she wants to start
saving money. She researches the different types of accounts she could open. Fatima decides
to open a money market account.
Why would Fatima choose to open a money market account over a traditional savings
account?
2
,Page 3 of 65
A money market pays a higher interest rate.
A traditional savings account requires a high minimum balance.
A money market is covered by the Federal Deposit Insurance Corporation (FDIC).
Traditional savings account deposits are invested into financial markets.
A money market pays a higher interest rate.
Sophia is creating a personal budget. She starts by listing her monthly income and expenses.
Which financial statement did Sophia create?
Cash-flow statement
Net worth
Financial ratio
Balance sheet
Cash-flow statement
3
, Page 4 of 65
A summary of income and expenses for a given period of time.
Cash-flow statement
Net worth
Financial ratio
Balance sheet
Cash-flow statement
Malik is reviewing a list of assets and liabilities. He uses the information shown in the table to
evaluate his net worth.:
Total Assets $45,000
Total Liabilities $22,000
Net Worth $23,000
Which financial statement is Malik reviewing?
Income and expense statement
Cash-flow statement
4
