TEST BANK FOR Introduction to Personal Finance: Beginning Your Financial Journey 3rd Edition by John E. Grable , Lance Palmer ISBN:978-1394244003 ALL CHAPTERS COVERED YOUR ULTIMATE GUIDE 100% VERIFIED A+ GRADE ASSURED!!!!!!!! NEW LATEST UPDATE!!!!!!!

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IntroductionfrtofrPersonalfrFinancefrBeginningfrYourfrFinancialfrJourney,fr3rdfrEditionfrJohnfrE.frGrable,frLan
cefrPalmer

Chapterfr1-10frfr




Chapterfr1 BeginningfrYourfrFinancialfrJourney:frThefrInteriorfrFinancefrPointfroffrView

1) Whichfroffrthefrfollowingfrrefersfrtofrone'sfrabilityfrtofrunderstandfrandfrusefrpersonalfrfinance
frinformation?



1

,A) Financialfrriskfrtolerance.
B) Financialfrwell-being.
C) Financialfrknowledge.
D) Financialfrability.
frAnswer:f r C

Explanation:f r Financialfrknowledgefrisfrthefrabilityfrtofrunderstandfrpersonalfrfinancefrinformation.frKnow
ingfrwhofryoufrare,frwherefryoufrwantfrtofrgo,frandfrwhatfrskillsfryoufrcurrentlyfrpossessfrarefressentialfrfactorsfrsh
apingfryourfrfinancialfrjourney.
Diff:fr1
LO:f r 1.1,frSectionfr1.1
frBloom:f r K

AACSBfr/frIMA:f r none;frnon
efrAICPA:f r FC:frnone
Min:f r f r 1

2) Peoplefrwhofrbelievefrthatfrwhatfrhappensfrtofrthemfrisfrbasedfronfrfatefrorfrluckfrmightfrviewfrtheirfrfinancialfrj
ourneyfrasfrbeingfruncertain.frThisfrisfranfrexamplefrof
A) financialfrriskfrtolerance.
B) financialfrliteracy.
C) feelingsfroffrcontrol.
D) financialfrability.
frAnswer:f r C

Explanation:f r Feelingsfroffrcontrolfrisfrtheframountfroffrcontrolfryoufrfeelfryoufrhavefrwhenfrmakingfrfina
ncialfrdecisions.frPeoplefrwhofrbelievefrthatfrwhatfrhappensfrtofrthemfrisfrbasedfronfrluckfrorfrfatefrmightfrvie
wfrtheirfrfinancialfrjourneyfrasfruncertain.
Diff:fr1
LO:f r 1.1,frSectionfr1.1
frBloom:f r C

AACSBfr/frIMA:f r none;frnon
efrAICPA:f r FC:frnone
Min:f r f r 1




2

,3) Internalfrfinancefrincludesfryour
A) financialfrknowledge.
B) financialfrriskfrtolerance.
C) feelingsfroffrcontrol.
D) Allfroffrthesefranswerfrchoicesfrarefrcorrect.f
rAnswer:f r D

Explanation:f r Internalfrfinancefrisfressentiallyfrthefrcombinationfroffrfinancialfrknowledge,frfinancialfrri
skfrtolerance,frandfrfeelingsfroffrcontrol.
Diff:fr1
LO:f r 1.1,frSectionfr1.1
frBloom:f r K

AACSBfr/frIMA:f r none;frnon
efrAICPA:f r FC:frnone
Min:f r f r 1

4) Whichfroffrthefrfollowingfrrefersfrtofryourfrconfidencefrandfrpeacefroffrmindfrregardingfryourfrfinancial
frsituation?

A) Financialfrliteracy.
B) Financialfrwell-being.
C) Financialfrknowledge.
D) Financialfrability.
frAnswer:f r B

Explanation:f r Financialfrwell-
beingfrisfryourfrconfidencefrandfrpeacefroffrmindfrregardingfryourfrfinancialfrsituation.frYourfrfinancialfrwell
-
beingfrwillfrincreasefrasfryoufrapplyfryourfrfinancialfrknowledge,frdevelopfrskills,frandfrorganizefryourfrfina
ncesfrtofrachievefryourfrpersonalfrgoals.
Diff:fr2
LO:f r 1.1,frSectionfr1.1f
rBloom:f r C

AACSBfr/frIMA:f r none;frnon
efrAICPA:f r FC:frnone
Min:f r f r 1

5) Infradditionfrtofrfinancialfrknowledge,frwhichfroffrthefrfollowingfrisfrimportantfrinfrshapingfryourfrviewfroff
rthefrfinancialfrworld?

A) Financialfrriskfrtolerance,fronly.
B) Feelingsfroffrcontrol,fronly.
C) Financialfrwell-beingfronly.
D) Financialfrriskfrtolerancefrandfrfeelingsfroffrcontrol.f
rAnswer:f r D

Explanation:f r Ourfrfinancialfrdecisionsfrcanfrbefrbasedfronfrafrbiasedfrviewfroffrthefrfinancialfrworld,frwhic
hfrisfrbasedfronfrthefrcombinationfroffrourfrfinancialfrknowledge,frfinancialfrriskfrtolerance,frandfrfeelingsfr
offrfrcontrol.
Diff:fr2
LO:f r 1.1,frSectionfr1.1
frBloom:f r C

AACSBfr/frIMA:f r none;frnon
3

, efrAICPA:f r FC:frnone
Min:f r f r 1




4