Sam's employer matches a portion of his contributions to a 401k. This is essential for Sam to consider when planning how to allocate his cash flow because ______.

Group of answer choices

He doesn't have to save as much knowing he can collect money from his company at retirement age.

It really doesn't impact him at all. This is a standard practice for all companies that he doesn't need to take advantage of.

It's essentially getting free money. The more he puts away in his 401k account, the more free money he gets.

It means his company is going to provide dividends each year from the growth that occurs in those accounts.

Flag question: Question 2Question 25 pts

All of the following are examples of donations EXCEPT:

Group of answer choices

Goods

Crowdfunding

Community service

Financial contributions

Flag question: Question 3Question 35 pts

Doing all of these things will increase the likelihood that the charity you are donating to is not a scam EXCEPT:

Group of answer choices

Reviewing the wording of the organization's name

Donating with a gift card

Donating with a credit card or check

Checking out the organization's website and literature

Flag question: Question 4Question 45 pts

Carl is a young adult and always has money left over in his account at the end of the month and has saved something. He doesn't really know how much he spends or exactly how much he makes, but he doesn't really think too much about it since he sees his savings account grow. What is true about Carl in terms of a financial plan?

Group of answer choices

Carl should be more intentional in determining his expenditures and developing a more specific savings plan (with targeted goals for the money left over). This plan should take into account his needs for the future.

Carl could potentially think about investing some money or saving for retirement with some of the money left over. As long as he is putting some money away for the future, he will be fine.

Carl has a great financial plan because he is saving each month. That's all that matters.

Carl should be speculating. Since he is young, he must be taking some riskier moves with his money to have a good financial plan.

Flag question: Question 5Question 55 pts

How is a bond different from a stock?

Citation: EGPF

Group of answer choices

Bonds are best for earning high returns while stocks are best for providing a stable source of income.

A bond is a loan you give to an organization while a stock is partial ownership in the company.

A bond is usually issued by smaller, startup companies while stocks are with well established organizations.

Bonds are typically riskier than stocks but have the potential to earn higher returns.

Flag question: Question 6Question 65 pts

Fraudulent charities frequently collect donations in the following ways:

Group of answer choices

email, phone, door-to-door

email, phone, commercials

commercials, phone, door-to-door

fundraiser events, email, phone

Flag question: Question 7Question 75 pts

Judi has some disposable income that she would like to see if she can get a high return for in a short amount of time. She is risk taker and is willing to gamble her money knowing there is a high potential for loss, as well as gain. What would you suggest for Judi?

Group of answer choices

Paying off debt

Speculating

Saving

Investing

Flag question: Question 8Question 85 pts

Altruism is ___________.

Group of answer choices

Contagious and promotes social connection

Not a good way to strengthen positive feelings about yourself

Pointless because no one notices

Not a good way to strengthen communities

Flag question: Question 9Question 95 pts

Maria is in the process of determining how much she wants to keep in her savings account for emergencies. If she is following the advice of most advisors, how should she calculate this?

Group of answer choices

She should save 12 months of her family's total income.

She should saving 3-6 months of essential living expenses.

She should save 12 months of her salary.

She should save 3-6 months of what she typically spends on non-essential and essential expenses.

Flag question: Question 10Question 105 pts

How can someone make money from investing in a stock?

Citation: EGPF

Group of answer choices

They receive dividends from the company they bought the stock of and/or they sell the stock at a higher price than what they bought it for.

The stock loses value but the overall market experiences a positive return.

They sell the stock for the same price they bought it for.

They sell the stock for a lower price than what they bought it for.

Flag question: Question 11Question 115 pts

Shawna has added up all her current expenditures and revenues and developed a plan for what she wants to do with all of her cash flow. She has included in this plan some money to put away for her 401k based on what she will need in the future. What is missing from Shawna's actions to make sure this is a sound financial plan?

Group of answer choices

Shawna needs to consult with a financial advisor to make sure she has not missed any details.

Shawna needs to invest. You can't have a sound financial plan without investing.

Shawna should begin speculating on the market to potentially grow her extra income quickly.

Shawna needs to make sure she revisits this plan on an ongoing basis.

Flag question: Question 12Question 125 pts

Polls show that charitable donations are _______.

Group of answer choices

At the lowest level on record

On average levels

There is not sufficient data to collect such polls

Are higher than usual

Flag question: Question 13Question 135 pts

What is one question an investor should ask before investing in a Roth IRA or a Traditional IRA?

Citation: EGPF

Group of answer choices

What type of investments do I want to make?

Do I want to pay taxes now (Traditional IRA) or later (Roth IRA)?

Do I want to pay taxes now (Roth IRA) or later (Traditional IRA)?

Do I want to make a guaranteed return of 6% or 8%?

Flag question: Question 14Question 145 pts

The biggest difference between altruism and philanthropy is ________.

Group of answer choices

Philanthropy has the goal of increasing the well being of the world and/or mankind.

Altruism has the goal of increasing the well being of the world and/or mankind.

Philanthropists focus on donating money, and if you are being altruistic you are donating your time or preforming a service for someone.

Altruism involves supporting an organization and philanthropy involves everyday kind acts.

Flag question: Question 15Question 155 pts

The amount of money you have left over after you list your assets and subtract your debt is called ______.

Group of answer choices

Financial Plan

Budgets

Cost of living

Wealth

Flag question: Question 16Question 165 pts

If Zach wants to find someone to professionally manage his investments with a mix of stocks and bonds, what should he do research on?

Group of answer choices

Mutual Funds

Day-trading

Certificates of Deposits

Money Market Accounts

Flag question: Question 17Question 175 pts

One of the biggest events that surround fraudulent collection of donations are __________________.

Group of answer choices

natural disasters

conservation efforts

political campaigns

animal support

Flag question: Question 18Question 185 pts

___________ are service organizations typically controlled by members of a family or by a small group of individuals and receive much of it's financial support from fewer sources.

Group of answer choices

Crowdfunding websites

Public charities

Non-Profit Organizations

Private foundations

Flag question: Question 19Question 195 pts

Why do people recommend diverse portfolios?

Citation: EGPF

Group of answer choices

If you diversify your portfolio, you are guaranteed to make a high return.

Diversifying your portfolio helps reduce risk.

Investing in a diversified portfolio guarantees that you won't lose money with your investments.

If you tell your fund manager to use diversification, they'll charge you lower fees.

Flag question: Question 20Question 205 pts

Read through the following scenario. Note at least 4 things that are red flags that the following organization could be a fraudulent organization.

There has recently been a hurricane that has hit the Outer Banks in NC. Nancy has seen on the news that many North Carolinians need food supplies and other support to recover. The following day a representative from the Blue Cross knocks on Nancy's door requesting donations for those in the Outer Banks to recover from the recent hurricane. The representative says that due to the urgent need, they haven't had time to create literature, put up a website, or even set up a way to donate money with a credit card. However, they will accept anything Nancy can provide in terms of cash, gift cards for a grocery store to be helpful to get needed food items in people's hands, or even other donated goods.

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