OpenStax College Success Concise
07/17/23 1
, OpenStax College Success Concise
Chapter 7
Understanding Financial Literacy
Total Questions: 41
Remember (15)
Understand (16)
Apply (3)
Analyze (3)
Evaluate (3)
Create (1)
Multiple Choice
1. Learning to manage your money is important because people with stronger finances
a. are healthier and happier.
b. have better marriages.
c. have better cognitive functioning.
d. All of the above.
[Section 1; Bloom’s: Remembering]
2. After you have decided to buy a car, identifying what you want, doing research, and seeing
what is available in your area is an example of what step of financial planning?
a. Implementing your plan
b. Developing personal goals
c. Writing down your financial plan
d. Budgeting
[Section 1; Bloom’s: Understanding]
3. Budgets have three elements: income, saving and investing, and expenses. Which expenses
should be included?
a. Social spending
b. Food spending
c. All expenses
d. College
[Section 2; Bloom’s: Understanding]
07/17/23 2
07/17/23 1
, OpenStax College Success Concise
Chapter 7
Understanding Financial Literacy
Total Questions: 41
Remember (15)
Understand (16)
Apply (3)
Analyze (3)
Evaluate (3)
Create (1)
Multiple Choice
1. Learning to manage your money is important because people with stronger finances
a. are healthier and happier.
b. have better marriages.
c. have better cognitive functioning.
d. All of the above.
[Section 1; Bloom’s: Remembering]
2. After you have decided to buy a car, identifying what you want, doing research, and seeing
what is available in your area is an example of what step of financial planning?
a. Implementing your plan
b. Developing personal goals
c. Writing down your financial plan
d. Budgeting
[Section 1; Bloom’s: Understanding]
3. Budgets have three elements: income, saving and investing, and expenses. Which expenses
should be included?
a. Social spending
b. Food spending
c. All expenses
d. College
[Section 2; Bloom’s: Understanding]
07/17/23 2
