personal finance

SECTION B: CIRCLE THE CORRECT ANSWERS 7. Interest earn on another interest is called? a. Simple interest b. Multiple interests c. Compound interest d. All of the above 8. The lump sum of future value of money to be received today is termed a. Future value b. Present value c. Compound value d. Simple value 9. Sarah's boyfriend requested that they should go out to the movies, but she had a mid- semester test the next day, she was in a fix as to whether to go or not. What economic concepts are applicable in her situation? Choice making & Scale of Preference b. Choice making & Opportunity Cost c. Scale of Preferences & Opportunity Cost d None of the Above a W TOSHIBA F6 F10 F12 INS & 8 9 0 T G H YA E 21 ) Emphasis Heading1 T Normal Strong Subtitle Tit Paragraph Styles 10. While reading this year's budget, the finance minister mentioned that there were economic downturns this year compared to last year. What does he mean by this statement? a. The economy was at the trough b. The economy was at the peak c. The economy was at the declining stage d. The economy was at the growth stage 11. Ante Kokor has to pay for her child school fees being a single mother, and see to the rent as well as their meals for the week. These are so pressing that she cannot wait till the month ends for her salary. She decided to sell some of her personal assets. Which of the following best describes her action? a Liquidity b. Opportunity cost C. Choice making d. Marginal Utility 12. Ruth is so worried because last year her salary was able to buy her shoes, food, pay her rent and transportation until her next pay. However, this time she was only able to pay the rent, transportation and food but had to ask a friend for a loan before her next pay cheque What is accounting for this situation? a. The increase and decrease of prices b. The increase in the general level of prices The persistent increase or decrease in the general level of prices d. The persistent increase in the general level of prices 13. Ruby graduated from Family and Consumer Sciences Department, she was successful in getting a job in line with her career aspirations. On receiving her first salary, she could take care of her expenses, but she decided only to take care of the pressing ones and save something out of her salary. Which of the following best describes her action? a. She is striving to be financially prudent b. She is striving to be financially responsible c. She is strwring to be financially successful d. She is striving to be financially accountable 14. Which of the following best describes the economic management by the government x] TOSHI F10 F12 INS 8 9 0 SPE T 13. Ruby graduated from Family and Consumer Sciences Department, she was successful in getting a job in line with her career aspirations. On receiving her first salary, she could take care of her expenses, but she decided only to take care of the pressing ones and save something out of her salary. Which of the following best describes her action? a. She is striving to be financially prudent b. She is striving to be financially responsible c. She is striving to be financially successful d She is striving to be financially accountable 14. Which of the following best describes the economic management by the government? a. Business cycle b. Economic management c. Economic cycle d Management cycle 15. Choose the odd one out a. Resume b. Cover letter c. Interview skills d Work experience 16. A resume can be organize in the following ways EXCEPT? a. Chronological format b. Skills format c. Methodological format d Functional format 17. The main purpose of financial planning is to a. Enable an individual to have a good life b. Have a high standard of living c. Bridge the gap between desired and expected living standard TOSHIBA F10 F12 1145 0 P J K. d. Enable the individual to have some savings 18. Which of the following best describes choice making a Selecting from different kinds and types b. Applying your free will when choosing a good or commodity c. Selecting the kind of good that satisfies you most d. None of the above 19. Which of the following is NOT a benefit an individual could derive from having knowledge in personal finance? a Students and individuals gain knowledge in savings b. Students and individuals can make good investment decisions c. Students and individuals would know how to retire d. Students and individuals would have a better chance of dealing with financial challenges they face 20. Which of the following concepts is the most important concept in personal finance? a Time Value of Money b. Opportunity Cost c. Marginal Utility d. None of the above 21. Emefa, believes that she's out going, and loves talking with people, meanwhile she is thinking of taking a position as a banker but she's not certain which position to specifically apply for. How best can you describe the state in which she is in? a. Drawing up a career plan 6. Assessing the position that will fetch more c. Assessing her values and interest d. None of the above 22. An income that is not spent on current consumption is termed as TOSHIBA F10 F11 F12 IS 9 0 d. None of the above 22. An income that is not spent on current consumption is termed as a unspent income b investment banking d saving 23. An economy at the peak means a the expansion stage of that economy has ended b the expansion stage of that economy is about ending the expansion stage of that economy is at its highest d. the expansion stage of that economy is at its lowest 24. Select the odd one out a. Funds allocation b. Borrowing c. Internal auditing d. Tax payment 25. An individual who is able to avoid financial mistakes and could take advantage of financial opportunities could be described as being a. Financially knowledgeable b. Financially successful c. Financially responsible & Financially happy 26. Which of the following best describes an individual who is financially successful? a. Having regular income b. Having extra income to save TOSHIBA F11 F12 8 0 H K L B N M c. Taking advantage of various financial benefits available d. All of the above 24. Akasua wants has graduated and thinking of what job she should go for. You are her friend which of the following would you suggest she adopts? 2. She should consider the job that pays well b. She should look at her strengths and what she loves doing c. She should look out for flexible jobs to have time for herself d. She should establish her own business 25. Career planning becomes most important in which of the following economies? a. An economic at its peak 6. A growing and expanding economy c. An economy at the trough d. A slowing economy SECTION C: FILL IN THE BLANK SPACES 26. What is the name given to the document that shows your net worth 27. State one main difference between a career and a job W TOSHIBA F10 F11 E12 U H K. L SECTION B: CIRCLE THE CORRECT ANSWERS 7. Interest earn on another interest is called? a. Simple interest b. Multiple interests c. Compound interest d. All of the above 8. The lump sum of future value of money to be received today is termed a. Future value b. Present value c. Compound value d. Simple value 9. Sarah's boyfriend requested that they should go out to the movies, but she had a mid- semester test the next day, she was in a fix as to whether to go or not. What economic concepts are applicable in her situation? Choice making & Scale of Preference b. Choice making & Opportunity Cost c. Scale of Preferences & Opportunity Cost d None of the Above a W TOSHIBA F6 F10 F12 INS & 8 9 0 T G H YA E 21 ) Emphasis Heading1 T Normal Strong Subtitle Tit Paragraph Styles 10. While reading this year's budget, the finance minister mentioned that there were economic downturns this year compared to last year. What does he mean by this statement? a. The economy was at the trough b. The economy was at the peak c. The economy was at the declining stage d. The economy was at the growth stage 11. Ante Kokor has to pay for her child school fees being a single mother, and see to the rent as well as their meals for the week. These are so pressing that she cannot wait till the month ends for her salary. She decided to sell some of her personal assets. Which of the following best describes her action? a Liquidity b. Opportunity cost C. Choice making d. Marginal Utility 12. Ruth is so worried because last year her salary was able to buy her shoes, food, pay her rent and transportation until her next pay. However, this time she was only able to pay the rent, transportation and food but had to ask a friend for a loan before her next pay cheque What is accounting for this situation? a. The increase and decrease of prices b. The increase in the general level of prices The persistent increase or decrease in the general level of prices d. The persistent increase in the general level of prices 13. Ruby graduated from Family and Consumer Sciences Department, she was successful in getting a job in line with her career aspirations. On receiving her first salary, she could take care of her expenses, but she decided only to take care of the pressing ones and save something out of her salary. Which of the following best describes her action? a. She is striving to be financially prudent b. She is striving to be financially responsible c. She is strwring to be financially successful d. She is striving to be financially accountable 14. Which of the following best describes the economic management by the government x] TOSHI F10 F12 INS 8 9 0 SPE T 13. Ruby graduated from Family and Consumer Sciences Department, she was successful in getting a job in line with her career aspirations. On receiving her first salary, she could take care of her expenses, but she decided only to take care of the pressing ones and save something out of her salary. Which of the following best describes her action? a. She is striving to be financially prudent b. She is striving to be financially responsible c. She is striving to be financially successful d She is striving to be financially accountable 14. Which of the following best describes the economic management by the government? a. Business cycle b. Economic management c. Economic cycle d Management cycle 15. Choose the odd one out a. Resume b. Cover letter c. Interview skills d Work experience 16. A resume can be organize in the following ways EXCEPT? a. Chronological format b. Skills format c. Methodological format d Functional format 17. The main purpose of financial planning is to a. Enable an individual to have a good life b. Have a high standard of living c. Bridge the gap between desired and expected living standard TOSHIBA F10 F12 1145 0 P J K. d. Enable the individual to have some savings 18. Which of the following best describes choice making a Selecting from different kinds and types b. Applying your free will when choosing a good or commodity c. Selecting the kind of good that satisfies you most d. None of the above 19. Which of the following is NOT a benefit an individual could derive from having knowledge in personal finance? a Students and individuals gain knowledge in savings b. Students and individuals can make good investment decisions c. Students and individuals would know how to retire d. Students and individuals would have a better chance of dealing with financial challenges they face 20. Which of the following concepts is the most important concept in personal finance? a Time Value of Money b. Opportunity Cost c. Marginal Utility d. None of the above 21. Emefa, believes that she's out going, and loves talking with people, meanwhile she is thinking of taking a position as a banker but she's not certain which position to specifically apply for. How best can you describe the state in which she is in? a. Drawing up a career plan 6. Assessing the position that will fetch more c. Assessing her values and interest d. None of the above 22. An income that is not spent on current consumption is termed as TOSHIBA F10 F11 F12 IS 9 0 d. None of the above 22. An income that is not spent on current consumption is termed as a unspent income b investment banking d saving 23. An economy at the peak means a the expansion stage of that economy has ended b the expansion stage of that economy is about ending the expansion stage of that economy is at its highest d. the expansion stage of that economy is at its lowest 24. Select the odd one out a. Funds allocation b. Borrowing c. Internal auditing d. Tax payment 25. An individual who is able to avoid financial mistakes and could take advantage of financial opportunities could be described as being a. Financially knowledgeable b. Financially successful c. Financially responsible & Financially happy 26. Which of the following best describes an individual who is financially successful? a. Having regular income b. Having extra income to save TOSHIBA F11 F12 8 0 H K L B N M c. Taking advantage of various financial benefits available d. All of the above 24. Akasua wants has graduated and thinking of what job she should go for. You are her friend which of the following would you suggest she adopts? 2. She should consider the job that pays well b. She should look at her strengths and what she loves doing c. She should look out for flexible jobs to have time for herself d. She should establish her own business 25. Career planning becomes most important in which of the following economies? a. An economic at its peak 6. A growing and expanding economy c. An economy at the trough d. A slowing economy SECTION C: FILL IN THE BLANK SPACES 26. What is the name given to the document that shows your net worth 27. State one main difference between a career and a job W TOSHIBA F10 F11 E12 U H K. L