D363 Personal Finance Correct 61
Pre-assessment Western
Governors University
Your time: 1 min
Your answers
1 of
61
Term
A student is working part-time while going to university. The student is
making $18,000 per year and saves $3,000 per year, as $15,000 of the
student's yearly living expenses are currently subsidized by grants.
Grant funding will run out when the student has one year left of
schooling.
How much of a deficit will the student have to finance if the student
, saves each year for three years?
A) $3,000
B) $6,000
C) $9,000
D) $12,000
Give this one a try later!
B) $6,000 A) $200.00
B) 26.4 B) $383,200
Don't know?
2 of 61
Term
An individual noticed an unrecognized transaction in a checking
account and notified the bank to investigate a potential EFT (electronic
funds transfer) error. Upon further review, the individual noticed the
transaction occurred once a month for the past year.
How could the account have been protected from unwanted
transactions of this nature?
A) By preventing access to the debit card connected to the account
, B) By avoiding automatic billing and subscription services with
hidden fees
C) By enabling an automated notification procedure to warn of the low
account value
D) By guarding all passwords to bank accounts closely to limit possible
fraud
Give this one a try later!
B) By avoiding automatic
B) Increasing savings to cover
billing and subscription
potential deductible costs
services with hidden fees
A) By choosing a high-deductible A) By ranking subaccount investment
health insurance plan and buying risk relative to the individual's own risk
long-term care insurance tolerance
Don't know?
3 of 61
Term
Eva wants to use a comprehensive financial plan created by a certified
planning professional to make prudent budgeting decisions and
achieve Eva's financial goals. Eva also wants to grow surplus cash in a
diversified, expertly managed portfolio.
Where should Eva go to get this service?
, A) To an insurance company
B)To an investment bank
C) To a depository institution
D)To a brokerage firm
Give this one a try later!
C) Active investment B) A fee-only financial planner
B)To an investment bank B) High market volatility
Don't know?
4 of 61
Term
A 45-year-old employed individual has two concurrent goals of
maximizing savings and protecting future income. The individual is
concerned about potential health-related expenses later in life and
wants to balance this with minimizing current expenses. How can
insurance coverage be selected to align with these goals?
A) By choosing a high-deductible health insurance plan and buying
long-term care insurance
B) By maximizing retirement account contributions and choosing low-
premium healthcare plans
C) By purchasing umbrella policy coverage for all other non-
healthcare related needs
Pre-assessment Western
Governors University
Your time: 1 min
Your answers
1 of
61
Term
A student is working part-time while going to university. The student is
making $18,000 per year and saves $3,000 per year, as $15,000 of the
student's yearly living expenses are currently subsidized by grants.
Grant funding will run out when the student has one year left of
schooling.
How much of a deficit will the student have to finance if the student
, saves each year for three years?
A) $3,000
B) $6,000
C) $9,000
D) $12,000
Give this one a try later!
B) $6,000 A) $200.00
B) 26.4 B) $383,200
Don't know?
2 of 61
Term
An individual noticed an unrecognized transaction in a checking
account and notified the bank to investigate a potential EFT (electronic
funds transfer) error. Upon further review, the individual noticed the
transaction occurred once a month for the past year.
How could the account have been protected from unwanted
transactions of this nature?
A) By preventing access to the debit card connected to the account
, B) By avoiding automatic billing and subscription services with
hidden fees
C) By enabling an automated notification procedure to warn of the low
account value
D) By guarding all passwords to bank accounts closely to limit possible
fraud
Give this one a try later!
B) By avoiding automatic
B) Increasing savings to cover
billing and subscription
potential deductible costs
services with hidden fees
A) By choosing a high-deductible A) By ranking subaccount investment
health insurance plan and buying risk relative to the individual's own risk
long-term care insurance tolerance
Don't know?
3 of 61
Term
Eva wants to use a comprehensive financial plan created by a certified
planning professional to make prudent budgeting decisions and
achieve Eva's financial goals. Eva also wants to grow surplus cash in a
diversified, expertly managed portfolio.
Where should Eva go to get this service?
, A) To an insurance company
B)To an investment bank
C) To a depository institution
D)To a brokerage firm
Give this one a try later!
C) Active investment B) A fee-only financial planner
B)To an investment bank B) High market volatility
Don't know?
4 of 61
Term
A 45-year-old employed individual has two concurrent goals of
maximizing savings and protecting future income. The individual is
concerned about potential health-related expenses later in life and
wants to balance this with minimizing current expenses. How can
insurance coverage be selected to align with these goals?
A) By choosing a high-deductible health insurance plan and buying
long-term care insurance
B) By maximizing retirement account contributions and choosing low-
premium healthcare plans
C) By purchasing umbrella policy coverage for all other non-
healthcare related needs
