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Default Timeout is: 120

Please answer all questions below. At the end of the test, hit the submit button to find out how you did.

1This is your starting point and should be in writing?

2Goals should be in writing and consist of what?

3A goal of one year or less, is considered to be what?

4What is a good example of a financial sacrifice that will help achieve your savings goals?

5A financial budget is what?

6Which of these is not a benefit of a monthly budget?

7An example of a “fixed expense” for a monthly budget would be?

8An example of a “flexible expense” for a monthly budget would be?

9Which of these is considered a “need” for the household?

10Which of these is not considered a “want” for the household?

11Which of these best describes net-income?

12Which of these best describes gross-income?

13When cashing your paycheck at the bank, you will receive which of these?

14Which of these best describes reconciling your budget?

15Which of these bills should be paid first as a monthly priority?

16Using which of these would help you find the budgeting category where you are over spending each month?

17What percentage of children learn about money from their parents?

18A budget is also known as a?

19Using the General Guideline percentage rules, your monthly transportation costs should not exceed what percentage of your income?

20Reducing your weekly and monthly spending to help achieve your savings goals will take which of these?

21Which of these could help you have more money to apply towards savings and debt reduction goals?

22Which savings account do we recommend as the “priority” savings account to have in place first before the others?

23Your “revolving” savings account is recommended to be what percentage of your monthly gross income?

24Which of these savings accounts is recommended to be in your pass-book savings linked to your checking account for daily and weekly use?

25Which of these is the proper order for savings account priorities?

26Debt shouldn’t be thought of as “good” debt, or “bad” debt, instead thought of which of these?

27A debt-snowball is used for what purpose?

28Which of these is not a warning sign of too much debt?

29The Fair Debt Collections Practices Act applies to what industry?

30Debt collectors can not do which of the following

31A debt collector can do which of these?

32Which of these would be the better choice and reason for using a credit card?

33Which of these has the best federal limit of liability protection?

34What credit card payment method is recommended for a pre-planned trip or purchase?

35How many days after receiving your credit card invoice do you have to dispute a purchase?

36What could be your maximum loss based on the federal limit of liability for a lost or stolen credit card?

37What could be your maximum loss based on the federal limit of liability for a lost or stolen debit card?

38After borrowing money from home equity to pay for debts, what percentage of households will be back into unmanageable debt within two years?

39Which of these is recommended with helping you pay-off your credit card debt?

40Using which of these in many cases, will do more damage than good, in our opinion?

41Why are debt consolidation loans not recommended for credit card debts?

42A Debt Settlement plan can do which of these?

43What percentage of households will be back into unmanageable debt within two years after doing a debt consolidation loan?

44Consequences of paying late: What may happen after 270 days of default of a federal student loan?

45Consequences of paying late: What may happen (depending on your State law) for delinquent child support payments?

46A person that smokes a pack of cigarettes each day will spend how much over a twenty year span?

47Managing money will take which of these?

48Which one of these is not one of our recommended uses for a credit card?

49Why would we recommend pre-paying for credit card purchases?

50An emergency savings account should be invested where?

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