Test Bank - Introduction to Personal Finance: Beginning Your Financial Journey 2nd Edition by John E. Grable, All Chapters

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Introduction to Personal Finance: Beginning Your
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Financial Journey 2nd Edition
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by John E. Grable, Lance Palmer
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♦️♦️♦️All Chapters Included ⬛ ⬛ ⬛
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♦️♦️♦️All Answers Included ⬛ ⬛ ⬛
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,Test Bank for Introduction to Personal Finance: Beginning Your Financial Journey 2nd Edition

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 $gvfinance $gvincludes $gvyour
A) financial $gvknowledge.
B) financial $gvrisk $gvtolerance.
C) feelings $gvof $gvcontrol.
D) All $gvof $gvthe $gvchoices $gvare
$gvcorrect. $gvAnswer: $ g v D

Explanation: $ g v Internal $gvfinance $gvis $gvessentially $gvthe $gvcombination $gvof $gvfinancial $gvknowledge,
$gvfinancial $gvrisk $gvtolerance, $gvand $gvfeelings $gvof $gvcontrol.

Diff: $gv1
LO: $ g v 1.1, $gvSection $gv1.1
$gvBloom: $ g v K

AACSB $gv/ $gvIMA: $ g v none; $gvnone
$gvAICPA: $ g v FC: $gvnone

Min: $ g v $ g v 1

4) Which $gvof $gvthe $gvfollowing $gvrefers $gvto $gvyour $gvconfidence $gvand $gvpeace $gvof $gvmind $gvregarding
$gvyour $gvfinancial $gvsituation?

A) Financial $gvliteracy.
B) Financial $gvwell-being.
C) Financial $gvknowledge.
D) Financial
$gvability. $gvAnswer:

$ g vB

Explanation: $ g v Financial $gvwell-being $gvis $gvyour $gvconfidence $gvand $gvpeace $gvof $gvmind $gvregarding
$gvyour $gvfinancial $gvsituation. $gvYour $gvfinancial $gvwell-being $gvwill $gvincrease $gvas $gvyou $gvapply $gvyour

$gvfinancial $gvknowledge, $gvdevelop $gvskills, $gvand $gvorganize $gvyour $gvfinances $gvto $gvachieve $gvyour

$gvpersonal $gvgoals.

Diff: $gv2
LO: $gv1.1, $gvSection
$gv1.1 $gvBloom: $ g v C

AACSB $gv/ $gvIMA: $ g v none; $gvnone
$gvAICPA: $ g v FC: $gvnone

Min: $ g v $ g v 1

5) In $gvaddition $gvto $gvfinancial $gvknowledge, $gvwhich $gvof $gvthe $gvfollowing $gvis $gvimportant $gvin $gvshaping
$gvyour $gvview $gvof $gvthe $gvfinancial $gvworld?

A) Financial $gvrisk $gvtolerance, $gvonly.
B) Feelings $gvof $gvcontrol, $gvonly.
C) Financial $gvwell-being $gvonly.
D) Financial $gvrisk $gvtolerance $gvand $gvfeelings $gvof
$gvcontrol. $gvAnswer: $ g v D

Explanation: $ g v Our $gvfinancial $gvdecisions $gvcan $gvbe $gvbased $gvon $gva $gvbiased $gvview $gvof $gvthe
$gvfinancial $gvworld, $gvwhich $gvis $gvbased $gvon $gvthe $gvcombination $gvof $gvour $gvfinancial $gvknowledge,

$gvfinancial $gvrisk $gvtolerance, $gvand $gvfeelings $gvof $gvcontrol.

Diff: $gv2
LO: $gv1.1, $gvSection
$gv1.1 $gvBloom: $ g v C

Min: $ g v
$gv1

, AACSB $gv/ $gvIMA: $ g v none; $gvnone
$gvAICPA: $ g v FC: $gvnone




Min: $ g v
$gv1