EDMENTUM PERSONAL FINANCE
EXAMINATION TEST PAPER 2026 FULL
QUESTIONS AND CORRECT ANSWERS
GRADED A+
⩥ Your housing costs will likely be the most expensive monthly expense
you have. You should try to keep your housing costs below ___ % of
your gross monthly income. Answer: 33%
⩥ Which of the following is not a risk of purchasing a used car. Answer:
used cars have lower initial costs
⩥ Which type of expense is an example of the cost to drive to and from
school. Answer: a variable expense
⩥ At what point does buying in bulk stop being a wise spending choice.
Answer: when the consumer buys more than is needed
⩥ Which strategy helps a famous brand company reach consumers.
Answer: advertising nationally
⩥ Savings should be treated as another type of. Answer: expenditure
, ⩥ When should fixed and variable monthly budget first be planned.
Answer: at the start of each month
⩥ Why might people choose to rent a home rather than buy a home.
Answer: they be relocated for a job soon
⩥ The point at which it is no longer beneficial to buy in bulk is known
as marginal. Answer: benefit
⩥ Building equity in a home is a good thing because. Answer: equity in
a home increases the homeowner's net worth.
⩥ Sara would like to open a bank account. What will she need to do
this? Check all that apply.. Answer: ID, Money to start the account,
proof of the address
⩥ Deciding what is more important for your budget is called. Answer:
prioritization
⩥ When a person invests income, he or she. Answer: uses money in a
way that will increase its value in the future.
⩥ If you do not have a rental history or employment history you may
need a ____ to help you qualify for an apartment. Answer: co signer
EXAMINATION TEST PAPER 2026 FULL
QUESTIONS AND CORRECT ANSWERS
GRADED A+
⩥ Your housing costs will likely be the most expensive monthly expense
you have. You should try to keep your housing costs below ___ % of
your gross monthly income. Answer: 33%
⩥ Which of the following is not a risk of purchasing a used car. Answer:
used cars have lower initial costs
⩥ Which type of expense is an example of the cost to drive to and from
school. Answer: a variable expense
⩥ At what point does buying in bulk stop being a wise spending choice.
Answer: when the consumer buys more than is needed
⩥ Which strategy helps a famous brand company reach consumers.
Answer: advertising nationally
⩥ Savings should be treated as another type of. Answer: expenditure
, ⩥ When should fixed and variable monthly budget first be planned.
Answer: at the start of each month
⩥ Why might people choose to rent a home rather than buy a home.
Answer: they be relocated for a job soon
⩥ The point at which it is no longer beneficial to buy in bulk is known
as marginal. Answer: benefit
⩥ Building equity in a home is a good thing because. Answer: equity in
a home increases the homeowner's net worth.
⩥ Sara would like to open a bank account. What will she need to do
this? Check all that apply.. Answer: ID, Money to start the account,
proof of the address
⩥ Deciding what is more important for your budget is called. Answer:
prioritization
⩥ When a person invests income, he or she. Answer: uses money in a
way that will increase its value in the future.
⩥ If you do not have a rental history or employment history you may
need a ____ to help you qualify for an apartment. Answer: co signer
