FINP 235 EXAM 1 QUESTIONS WITH 100% CORRECT ANSWERS!!
Course Grade:
Module Quizzes: ___ Assignments: ___ Exams: ___ Reflection Video: ___ - (answer)30%, 30%, 30%, 10%
Financial Stress: American solutions include ... - (answer)lottery tickets, marriage, inheritance, or suing
Path to Financial Well-Being - (answer)Skill, behavior, situation, well-being
What does 'Skill' refer to in financial path definitions? - (answer)How you find, process and use relevant
money info
What does 'Behavior' refer to in financial path definitions? - (answer)Day-to-day actions taken to secure
money
What does 'Situation' refer to in financial path definitions? - (answer)Objective facts of financial life
Definition of financial well-being - (answer)the ability to meet current and ongoing financial obligations
3 step Financial Planning Process - (answer)1. assess wealth, 2. make goals, 3. budget income and
expenses
Wealth/Net Worth (Solvent and insolvent) - (answer)Assets (what you own) - Liabilities (what you owe)
(+ wealth and - wealth)
Balance Sheet - (answer)a snapshot, comparing assets and liabilities to measure wealth (only present)
Net income - (answer)Revenue/income - expenses
Income statement - (answer)tracks income and expenses from the past, tells you where money comes
from and where it goes
, FINP 235 EXAM 1 QUESTIONS WITH 100% CORRECT ANSWERS!!
The Wealth Cycle - (answer)Net income = positive, reducing expenses and increasing next income
The Poverty Cycle - (answer)net income = negative, raising expenses and lowering income
Budget definition - (answer)a plan for controlling future income and expenses (and thus net income)
Budgeting options - (answer)50-30-20, envelope method, Empower.com
Savings Vehicle - (answer)combat inflation with interest (deposits) and return (investing)
TVM - (answer)a dollar saved today is worth more than a dollar saved in the future
Financial stress: - (answer)#1 stressor, more stressful than work, health problems, relationships, and
personal safety
Common symptoms of financial stress: - (answer)anxiety, fatigue, stomach pain, insomnia, shingles
Financial literacy - (answer)57% Americans, 44% TAMU
Paying for college involves piecing together money.
__% worry about having enough money for school
__% of students pay for college with credit cards - (answer)66%, 31%
Financial security: students surviving on narrow margins are more vulnerable to academic disruptions:
__% of students have run out of money
__% would have trouble getting $500 in an emergency - (answer)36%, 53%
Course Grade:
Module Quizzes: ___ Assignments: ___ Exams: ___ Reflection Video: ___ - (answer)30%, 30%, 30%, 10%
Financial Stress: American solutions include ... - (answer)lottery tickets, marriage, inheritance, or suing
Path to Financial Well-Being - (answer)Skill, behavior, situation, well-being
What does 'Skill' refer to in financial path definitions? - (answer)How you find, process and use relevant
money info
What does 'Behavior' refer to in financial path definitions? - (answer)Day-to-day actions taken to secure
money
What does 'Situation' refer to in financial path definitions? - (answer)Objective facts of financial life
Definition of financial well-being - (answer)the ability to meet current and ongoing financial obligations
3 step Financial Planning Process - (answer)1. assess wealth, 2. make goals, 3. budget income and
expenses
Wealth/Net Worth (Solvent and insolvent) - (answer)Assets (what you own) - Liabilities (what you owe)
(+ wealth and - wealth)
Balance Sheet - (answer)a snapshot, comparing assets and liabilities to measure wealth (only present)
Net income - (answer)Revenue/income - expenses
Income statement - (answer)tracks income and expenses from the past, tells you where money comes
from and where it goes
, FINP 235 EXAM 1 QUESTIONS WITH 100% CORRECT ANSWERS!!
The Wealth Cycle - (answer)Net income = positive, reducing expenses and increasing next income
The Poverty Cycle - (answer)net income = negative, raising expenses and lowering income
Budget definition - (answer)a plan for controlling future income and expenses (and thus net income)
Budgeting options - (answer)50-30-20, envelope method, Empower.com
Savings Vehicle - (answer)combat inflation with interest (deposits) and return (investing)
TVM - (answer)a dollar saved today is worth more than a dollar saved in the future
Financial stress: - (answer)#1 stressor, more stressful than work, health problems, relationships, and
personal safety
Common symptoms of financial stress: - (answer)anxiety, fatigue, stomach pain, insomnia, shingles
Financial literacy - (answer)57% Americans, 44% TAMU
Paying for college involves piecing together money.
__% worry about having enough money for school
__% of students pay for college with credit cards - (answer)66%, 31%
Financial security: students surviving on narrow margins are more vulnerable to academic disruptions:
__% of students have run out of money
__% would have trouble getting $500 in an emergency - (answer)36%, 53%
