FINP 235 EXAM 1 UPDATED QUESTIONS
AND CORRECT ANSWERS.
Percentage of grade for each category - ANS quizzes 30
assignments 30
exams 30
reflection video 10
when are quizzes and assignments due - ANS sunday 11:59pm
which attempt of the quiz is kept - ANS first
what will material from the videos be included on - ANS exam
what does the exam consist of - ANS multiple choice and t/f
what are some common american solutions to debt - ANS marriage, lottery/gambling,
inheritance, sue
first step to financial well being - ANS financial skill
second step to financial well being - ANS financial behavior
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,third step to financial well being - ANS financial situation
fourth step to financial well being - ANS financial well being
what is financial well being - ANS the ability to meet current and ongoing financial
obligations, feel secure in your financial future, and be able to make choices that allow
enjoyment in life
what are the four elements of financial well being - ANS security & freedom of choice,
present & future
first step of financial planning procress - ANS assess your wealth (scale)
second step of financial planning process - ANS set financial goals (the rock)
third step of financial planning progress - ANS budget income & expenses (calendar plan)
what is wealth made of - ANS assets-liabilities
what is an asset - ANS what you own
what is a liability - ANS what you owe
synonym for wealth - ANS net worth
what are the types of assets - ANS tangible and intangible
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, examples of tangible assets - ANS car, house, cash
examples of intangible assets - ANS bank accounts, 401k, cash
what type of asset is more liquid - ANS intangible
what are the types of liabilities - ANS current or long term
examples of current liabilities - ANS credit card current balance
what is a current liability - ANS due in full in less than a year
what is a long term liability - ANS due in full in over a year
examples of long term liability - ANS student loan, home loan, auto loan
positive net wealth means you are - ANS solvent
negative net wealth means you are - ANS insolvent
how much is an aggie ring - ANS small 900, large 2000
how much is a house - ANS usa- 404k texas- 399k
how much is a child - ANS 314k, 0-18 no college
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
AND CORRECT ANSWERS.
Percentage of grade for each category - ANS quizzes 30
assignments 30
exams 30
reflection video 10
when are quizzes and assignments due - ANS sunday 11:59pm
which attempt of the quiz is kept - ANS first
what will material from the videos be included on - ANS exam
what does the exam consist of - ANS multiple choice and t/f
what are some common american solutions to debt - ANS marriage, lottery/gambling,
inheritance, sue
first step to financial well being - ANS financial skill
second step to financial well being - ANS financial behavior
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,third step to financial well being - ANS financial situation
fourth step to financial well being - ANS financial well being
what is financial well being - ANS the ability to meet current and ongoing financial
obligations, feel secure in your financial future, and be able to make choices that allow
enjoyment in life
what are the four elements of financial well being - ANS security & freedom of choice,
present & future
first step of financial planning procress - ANS assess your wealth (scale)
second step of financial planning process - ANS set financial goals (the rock)
third step of financial planning progress - ANS budget income & expenses (calendar plan)
what is wealth made of - ANS assets-liabilities
what is an asset - ANS what you own
what is a liability - ANS what you owe
synonym for wealth - ANS net worth
what are the types of assets - ANS tangible and intangible
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, examples of tangible assets - ANS car, house, cash
examples of intangible assets - ANS bank accounts, 401k, cash
what type of asset is more liquid - ANS intangible
what are the types of liabilities - ANS current or long term
examples of current liabilities - ANS credit card current balance
what is a current liability - ANS due in full in less than a year
what is a long term liability - ANS due in full in over a year
examples of long term liability - ANS student loan, home loan, auto loan
positive net wealth means you are - ANS solvent
negative net wealth means you are - ANS insolvent
how much is an aggie ring - ANS small 900, large 2000
how much is a house - ANS usa- 404k texas- 399k
how much is a child - ANS 314k, 0-18 no college
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
