Introduction to Personal Finance Stuvia: the best study material from your fellow students
See all study documents for Introduction to Personal Finance
,Introduction to Personal Finance Stuvia: the best study material from your fellow students
Test Bank For
Introduction to Personal Finance Beginning Your Financial Journey, 3rd Edition John E. Grable,
Lance Palmer
Chapter 1-10
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
1
Purchased by Brian Simon () via www.stuvia.com
,Introduction to Personal Finance Stuvia: the best study material from your fellow students
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.
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
2
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You're studying Introduction to Personal Finance
Introduction to Exam (elaborations)
Personal Finan
Introduction to Personal Finance: Beginning Your Financial Journey (3rd Edition)
– Complete Solutions Manual | Grable & Palmer | 9781394243952
1 374
FULL TEST Exam (elaborations)
BANK For Intr...
FULL TEST BANK For Introduction to Personal Finance: Beginning Your Financial
Journey 2nd Edition by John E. Grable Latest Update Graded A+
1 575
All the study material for
Introduction to Personal Finance
BECOME A SELLER ON STUVIA
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make "I used to send my study notes to
classmates, until I found Stuvia.
Upload your summaries, notes or practice questions once, and Now, my documents have been
sold over 900 times and I've been
earn every time another student downloads them.
able to take a trip twice with the
money I earned."
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See all study documents for Introduction to Personal Finance
,Introduction to Personal Finance Stuvia: the best study material from your fellow students
Test Bank For
Introduction to Personal Finance Beginning Your Financial Journey, 3rd Edition John E. Grable,
Lance Palmer
Chapter 1-10
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
1
Purchased by Brian Simon () via www.stuvia.com
,Introduction to Personal Finance Stuvia: the best study material from your fellow students
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.
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
2
Your study documents are worth more than you think
Upload your first document now
, More for this course
You're studying Introduction to Personal Finance
Introduction to Exam (elaborations)
Personal Finan
Introduction to Personal Finance: Beginning Your Financial Journey (3rd Edition)
– Complete Solutions Manual | Grable & Palmer | 9781394243952
1 374
FULL TEST Exam (elaborations)
BANK For Intr...
FULL TEST BANK For Introduction to Personal Finance: Beginning Your Financial
Journey 2nd Edition by John E. Grable Latest Update Graded A+
1 575
All the study material for
Introduction to Personal Finance
BECOME A SELLER ON STUVIA
RikEijbergen
R
Get paid for the notes you already Creative Business
make "I used to send my study notes to
classmates, until I found Stuvia.
Upload your summaries, notes or practice questions once, and Now, my documents have been
sold over 900 times and I've been
earn every time another student downloads them.
able to take a trip twice with the
money I earned."
Scan to upload your first document Rik has earned $4400 since he
started
or go to stuvia.com/earn
Free to start, you set your price. Over a million students a month come to
$27M+
paid out to students
Stuvia looking for material like yours. since 2010
www.stuvia.com
