Case Study: Personal Financial Planning Answers
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1
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Which of these would require a significant but temporary budget revision?
A
paying a recurring credit card billB
adopting a kitten from a shelterC
replacing a broken dishwasherD
purchasing a newly released movie2
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When making a decision about housing, the first step should be
A
visiting different housing locations.B
gathering information on available housing.C
analyzing the availability of housing loans.D
comparing the cost of housing alternatives.3
[BLANK]
A
netB
gross4
What is an advantage of renting a place to live?
A
lower up-front costsB
payments change from month to monthC
low down paymentD
increasing equity over time5
Which budgeting questions should Sara ask when deciding whether to rent or buy a house? Check all that apply.
A
Do I have enough money saved for a down payment?B
How much can I afford to pay each month?C
What are the advantages of buying or renting?D
How many rooms does the new home have?E
Which real estate agent should I hire?6
The chart compares transportation options.
A
the up-front costB
the monthly paymentsC
the length of paymentsD
the cost of insurance and gas7
Which is the most important consideration when deciding to purchase or lease a vehicle?
A
all current monthly expendituresB
the amount of cash savedC
the cost of gas and insuranceD
all monthly car payments8
What is the most acceptable and easy way to revise a budget to allow for the purchase of a new couch?
A
Cancel renters' insurance.B
Skip a car payment for a few months.C
Advertise for a roommate to reduce rent.D
Cook dinners at home instead of going out to eat.9
Marlene has decided to save $3,500 so that she can attend the nearby community college. Which step in the decision process should Marlene take?
A
Take action.B
Gather information.C
Evaluate results.D
Evaluate alternatives.10
[BLANK]
A
spendingB
savingC
payingDid you find these answers helpful?
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