Unit Test — Unit test

Question 1

Which results are more likely for someone without personal finance skills? Select three options.larger long-term credit or loan costsless preparation for emergenciesfewer utility expensessimple long-term investment strategiesincreased long-term challenges

Question 2

It is important to shop around for credit because banks and financial institutions

Revolt · Accepted Answer

charge different fees.

Question 3

Lenders are prohibited from

Revolt · Accepted Answer

considering borrowers’ race, sex, and national origin.

Question 4

There are four steps in solving one’s personal financial challenges:1. considering opportunity costs2. assessing risks and returns 3. setting short- and long-term goals4. assessing needs and wantsWhich of these is the correct order of these steps?

Revolt · Accepted Answer

4, 1, 2, 3

Question 5

How do long-term financial goals differ from short-term financial goals?

Revolt · Accepted Answer

Long-term goals are more stable over time than short-term goals.

Unit Test — Unit test Answers

More from this Course

TRY EDGENUITY HACKS