Test Bank for Introduction to Personal Finance; Beginning Your Financial Journey, 3rd Edition (Wiley, 2024) by Grable and Palmer, Isbn no; 9781394244003, (Chapters 1-10) Complete Study Guide!!!!!!!!

Test Bank for Introduction to Personal Finance; Beginning Your Financial Journey, 3rd Edition




TEST BANK
INTRODUCTION TO PERSONAL FINANCE; BEGINNING YOUR
FINANCIAL JOURNEY, 3RD EDITION (WILEY, 2024) BY
GRABLE AND PALMER, ISBN NO; 9781394244003,
(CHAPTERS 1-10) COMPLETE STUDY GUIDE!!!!!!!!

,Test Bank for Introduction to Personal Finance; Beginning Your Financial Journey, 3rd Edition



Test Bank for Introduction to Personal Finance; Beginning Your Financial
Journey, 3rd Edition (Wiley, 2024) by Grable and Palmer, Isbn no;
9781394244003, (Chapters 1-10) Complete Study Guide!!!!!!!!
Table of Contents
1) Beginning Your Financial Journey: The Interior Finance Point of View


2) Tools for Your Financial Journey


3) Earnings and Income: The Building Blocks of Your Financial Journey


4) Personal Taxation


5) Checking Accounts, Credit Scores, and Credit Cards


6) Loans and Housing Decisions


7) The Foundation of Savings


8) Investments


9) Risk Management: The Role of Insurance


10) Planning for the Future: Retirement and Estate Planning

, Test Bank for Introduction to Personal Finance; Beginning Your Financial Journey, 3rd Edition



Test Bank for Introduction to Personal Finance; Beginning Your Financial
Journey, 3rd Edition (Wiley, 2024) by Grable and Palmer, Isbn no;
9781394244003, (Chapters 1-10) Complete Study Guide!!!!!!!!
Chapter 1 Beginning Your Financial Journey: The Interior Finance Point of View
1) Which of the following refers to one's ability to understand and use
personal finance information?
A) Financial risk tolerance.
B) Financial well-being.
C) Financial knowledge.
D) Financial ability. Answer: C
Explanation: Financial knowledge is the ability to understand personal finance
information. Knowing who you are, where you want to go, and what skills you
currently possess are essential factors shaping your financial journey.
Diff: 1
LO: 1.1, Section 1.1 Bloom: K
AACSB / IMA: none; none AICPA: FC: none
Min: 1


2) People who believe that what happens to them is based on fate or luck might
view their financial journey as being uncertain. This is an example of
A) financial risk tolerance.
B) financial literacy.
C) feelings of control.
D) financial ability. Answer: C
Explanation: Feelings of control is the amount of control you feel you have when
making financial decisions. People who believe that what happens to them is based
on luck or fate might view their financial journey as uncertain.
Diff: 1
LO: 1.1, Section 1.1 Bloom: C
AACSB / IMA: none; none AICPA: FC: none
Min: 1


3) Internal finance includes your
A) financial knowledge.
B) financial risk tolerance.
C) feelings of control.
D) All of these answer choices are correct. Answer: D
Explanation: Internal finance is essentially the combination of financial
knowledge, financial risk tolerance, and feelings of control.

, Test Bank for Introduction to Personal Finance; Beginning Your Financial Journey, 3rd Edition



Diff: 1
LO: 1.1, Section 1.1 Bloom: K
AACSB / IMA: none; none AICPA: FC: none
Min: 1


4) Which of the following refers to your confidence and peace of mind
regarding your financial situation?
A) Financial literacy.
B) Financial well-being.
C) Financial knowledge.
D) Financial ability. Answer: B
Explanation: Financial well-being is your confidence and peace of mind regarding
your financial situation. Your financial well-being will increase as you apply
your financial knowledge, develop skills, and organize your finances to achieve
your personal goals.
Diff: 2
LO: 1.1, Section 1.1 Bloom: C
AACSB / IMA: none; none AICPA: FC: none
Min: 1


5) In addition to financial knowledge, which of the following is important in
shaping your view of the financial world?
A) Financial risk tolerance, only.
B) Feelings of control, only.
C) Financial well-being only.
D) Financial risk tolerance and feelings of control. Answer: D
Explanation: Our financial decisions can be based on a biased view of the
financial world, which is based on the combination of our financial knowledge,
financial risk tolerance, and feelings of control.
Diff: 2
LO: 1.1, Section 1.1 Bloom: C
AACSB / IMA: none; none AICPA: FC: none
Min: 1


6) Which of the following refers to your willingness to engage in financial
endeavors that have uncertain outcomes?
A) Financial literacy.
B) Financial risk tolerance.
C) Financial knowledge.