Test Bank for Personal Finance, 2025 Evergreen Release by Jack Kapoor

Answers Included ✅
Chap 01 2025 Release - Kapoor
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Long-term financial security can be achieved through frugal living and wise investing.
1) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-01 Implement steps to make personal financial decisions.
Topic : Economic conditions and factors
Source : Chapter 01 Test Bank - Static > TB TF Qu. 01-01 Long-term financial security...



2) An opportunity fund is when money is set aside to expand ones income and net worth, or can
be used to invest in oneself through higher education.
2) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-01 Implement steps to make personal financial decisions.
Topic : Economic conditions and factors
Source : Chapter 01 Test Bank - Static > TB TF Qu. 01-02 An opportunity fund is...




1

,3) The purpose of a tariff, also known as an import tax, is to decrease the trade deficit, which
always has the effect intended.
3) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-02 Analyze personal and economic factors that affect financial decisions.
Topic : Economic conditions and factors
Source : Chapter 01 Test Bank - Static > TB TF Qu. 01-03 The purpose of a tariff...



4) Increased demand for a product or service will usually result in lower prices for the item.
4) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-02 Analyze personal and economic factors that affect financial decisions.
Topic : Economic conditions and factors
Source : Chapter 01 Test Bank - Static > TB TF Qu. 01-04 Increased demand for a...




2

,5) Inflation reduces the buying power of the dollar.
5) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-02 Analyze personal and economic factors that affect financial decisions.
Topic : Economic conditions and factors
Source : Chapter 01 Test Bank - Static > TB TF Qu. 01-05 Inflation reduces the buying power...



6) Lenders benefit more than borrowers in times of high inflation.
6) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Difficulty : 3 Hard
Gradable : automatic
Learning Objective : 01-02 Analyze personal and economic factors that affect financial decisions.
Topic : Economic conditions and factors
Source : Chapter 01 Test Bank - Static > TB TF Qu. 01-06 Lenders benefit more than borrowers...



7) Economics is the study of using money to achieve financial goals.
7) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-02 Analyze personal and economic factors that affect financial decisions.
Topic : Economic conditions and factors
Source : Chapter 01 Test Bank - Static > TB TF Qu. 01-07 Economics is the study of...




3

, 8) Reduced consumer spending may be caused by unemployment due to a layoff.
8) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-02 Analyze personal and economic factors that affect financial decisions.
Topic : Economic conditions and factors
Source : Chapter 01 Test Bank - Static > TB TF Qu. 01-08 Reduced consumer spending may cause...



9) A financial plan is another name for a budget.
9) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-05 Identify strategies to acheive financial goals throughout your life.
Topic : Financial plan development
Source : Chapter 01 Test Bank - Static > TB TF Qu. 01-09 A financial plan is another...



10) Developing and using a budget is part of the "obtaining" component of financial planning.
10) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-05 Identify strategies to acheive financial goals throughout your life.
Topic : Components of Financial Planning
Source : Chapter 01 Test Bank - Static > TB TF Qu. 01-10 Developing and using a budget...




4