ST Personal Finance – 2nd
UV
IA_ Edition
AP
TEST BANK PR
O VE
Vickie L. Bajtelsmit
D?
Comprehensive Test Bank for Instructors
and Students
© Vickie L. Bajtelsmit
All rights reserved. Reproduction or distribution without permission is prohibited.
Created by MedConnoisseur ©2025/2026
,ST
TABLE OF CONTENTS
Personal Finance – 2nd Edition
UV
Vickie L. Bajtelsmit
IA_
1. The Financial Planning Process
AP
2. Financial Planning Tools: Personal Financial Statements and the Time
Value of Money
3. Budgeting and Cash Management
PR
4. Tax Planning
5. Managing Consumer Credit: Credit Cards and Consumer Loans
6. Making Automobile and Housing Decisions
O
7. Insuring Cars and Homes
8. Life Insurance and Long-Term Care Planning
VE
9. Employee Benefits: Health, Disability, and Retirement Plans
10.Savings for Distant Goals: Retirement and Education Funding
D?
11.The Fundamentals of Investing
12.Investing in Stocks and Bonds
13.Investing in Mutual Funds and Real Estate
14.Estate Planning
Created by MedConnoisseur ©2025/2026
,TEST BANK FOR Personal Finance, 2nd Edition Vickie
ST
L. Bajtelsmit
Chapter 1-14
UV Chapter 1
To accompany Personal Finance, 2nd edition, by Vickie Bajtelsmit
IA_
Summary: 47 questions. 46 Multiple Choice | 1 Multiple Select
LO 1.1 8 17%
LO 1.2
AP 14 30%
LO 1.3 5 11%
LO 1.4 8 17%
LO 1.5 12
47
PR 26%
Easy
Medium
6
40
OV
13%
85%
Hard 1
47
2%
ED
Knowledge 6 13%
?
Comprehensive 18 38%
Application 17 36%
Analysis 6 13%
47
Calculations
Percentage Change Calculation #14
Percentage Change Calculation (with distractor) #15
Percentage Change Calculation (multiple yrs.) #16
Annual Percentage Change Calculation #17
, Fee Calculation #34
ST Opportunity Cost Calculation #40
1. Personal finance is a specialized area of study that focuses
UV
A) exclusively on investments and retirement planning.
B) on financial management, household budgets, and investments.
C) exclusively on investment management and household budgets.
IA_
D) on individual and household financial decisions, such as budgeting, saving,
spending, tax planning, insurance, and investments.
Answer: D
Solution: Personal finance is a specialized area of study that focuses on
AP
individual and household financial decisions, such as budgeting, saving,
spending, tax-planning, insurance, and investments.
Format: Multiple Choice
Title: Test Bank 1.1 Personal Financial Planning
PR
Section: Why Study Personal Financial Planning?
Learning Objective: 1.1 Describe the personal financial planning process, and
explain how the elements of a comprehensive financial plan fit together.
Difficulty: Easy OV
Bloomcode: Knowledge
AACSB: Knowledge
Expected Time to Complete: 1 minute
ED
2. Critical to the success of building a comprehensive financial plan is that you
approach its creation in a logical order. The steps to success, in the correct order,
are as follows:
A) Secure basic needs, build and protect wealth, and establish a firm foundation.
?
B) Secure basic needs, establish a firm foundation, and build and protect wealth.
C) Build and protect wealth, establish a firm foundation, and secure basic needs.
D) Establish a firm foundation, secure basic needs, and build and protect wealth.
Answer: D
Solution: Critical to the success of building a comprehensive financial plan is that
you approach its creation in a logical order. The steps to success are: establish a
firm foundation, secure basic needs, and build and protect wealth.
Format: Multiple Choice
Title: Test Bank 1.1 Steps to a Comprehensive Financial Plan
Section: Elements of a Comprehensive Financial Plan
Learning Objective: 1.1 Describe the personal financial planning process, and
explain how the elements of a comprehensive financial plan fit together.
Difficulty: Medium
Bloomcode: Comprehension
AACSB: Comprehension
Expected Time to Complete: 2 minutes
3. The financial planning process includes five steps. Four of the steps are listed next:
UV
IA_ Edition
AP
TEST BANK PR
O VE
Vickie L. Bajtelsmit
D?
Comprehensive Test Bank for Instructors
and Students
© Vickie L. Bajtelsmit
All rights reserved. Reproduction or distribution without permission is prohibited.
Created by MedConnoisseur ©2025/2026
,ST
TABLE OF CONTENTS
Personal Finance – 2nd Edition
UV
Vickie L. Bajtelsmit
IA_
1. The Financial Planning Process
AP
2. Financial Planning Tools: Personal Financial Statements and the Time
Value of Money
3. Budgeting and Cash Management
PR
4. Tax Planning
5. Managing Consumer Credit: Credit Cards and Consumer Loans
6. Making Automobile and Housing Decisions
O
7. Insuring Cars and Homes
8. Life Insurance and Long-Term Care Planning
VE
9. Employee Benefits: Health, Disability, and Retirement Plans
10.Savings for Distant Goals: Retirement and Education Funding
D?
11.The Fundamentals of Investing
12.Investing in Stocks and Bonds
13.Investing in Mutual Funds and Real Estate
14.Estate Planning
Created by MedConnoisseur ©2025/2026
,TEST BANK FOR Personal Finance, 2nd Edition Vickie
ST
L. Bajtelsmit
Chapter 1-14
UV Chapter 1
To accompany Personal Finance, 2nd edition, by Vickie Bajtelsmit
IA_
Summary: 47 questions. 46 Multiple Choice | 1 Multiple Select
LO 1.1 8 17%
LO 1.2
AP 14 30%
LO 1.3 5 11%
LO 1.4 8 17%
LO 1.5 12
47
PR 26%
Easy
Medium
6
40
OV
13%
85%
Hard 1
47
2%
ED
Knowledge 6 13%
?
Comprehensive 18 38%
Application 17 36%
Analysis 6 13%
47
Calculations
Percentage Change Calculation #14
Percentage Change Calculation (with distractor) #15
Percentage Change Calculation (multiple yrs.) #16
Annual Percentage Change Calculation #17
, Fee Calculation #34
ST Opportunity Cost Calculation #40
1. Personal finance is a specialized area of study that focuses
UV
A) exclusively on investments and retirement planning.
B) on financial management, household budgets, and investments.
C) exclusively on investment management and household budgets.
IA_
D) on individual and household financial decisions, such as budgeting, saving,
spending, tax planning, insurance, and investments.
Answer: D
Solution: Personal finance is a specialized area of study that focuses on
AP
individual and household financial decisions, such as budgeting, saving,
spending, tax-planning, insurance, and investments.
Format: Multiple Choice
Title: Test Bank 1.1 Personal Financial Planning
PR
Section: Why Study Personal Financial Planning?
Learning Objective: 1.1 Describe the personal financial planning process, and
explain how the elements of a comprehensive financial plan fit together.
Difficulty: Easy OV
Bloomcode: Knowledge
AACSB: Knowledge
Expected Time to Complete: 1 minute
ED
2. Critical to the success of building a comprehensive financial plan is that you
approach its creation in a logical order. The steps to success, in the correct order,
are as follows:
A) Secure basic needs, build and protect wealth, and establish a firm foundation.
?
B) Secure basic needs, establish a firm foundation, and build and protect wealth.
C) Build and protect wealth, establish a firm foundation, and secure basic needs.
D) Establish a firm foundation, secure basic needs, and build and protect wealth.
Answer: D
Solution: Critical to the success of building a comprehensive financial plan is that
you approach its creation in a logical order. The steps to success are: establish a
firm foundation, secure basic needs, and build and protect wealth.
Format: Multiple Choice
Title: Test Bank 1.1 Steps to a Comprehensive Financial Plan
Section: Elements of a Comprehensive Financial Plan
Learning Objective: 1.1 Describe the personal financial planning process, and
explain how the elements of a comprehensive financial plan fit together.
Difficulty: Medium
Bloomcode: Comprehension
AACSB: Comprehension
Expected Time to Complete: 2 minutes
3. The financial planning process includes five steps. Four of the steps are listed next:
