Course Catalog > Financial Planning > Courses
Financial Planning Courses: Lifestyle Planning/Setting Financial Goals

Test your knowledge

Choose wisely. There is only one correct answer to each question.

0%
Keep studying!
Review your answers below to learn more.
1.
Ideally, when it comes to taking out student loans, you want to borrow _______.
Choose wisely. There is only one correct answer.
As little as possible. Student loan money must be paid back with interest, so ideally you want to borrow as little as possible.
2.
When you are young and just starting out, it is wiser to spend your money on _______.
Choose wisely. There is only one correct answer.
Needs. Needs tend to be less expensive. Wants tend to be more luxurious and are perhaps best purchased when you are more settled.
3.
A financial goal should be attainable if you have any hope of it coming true. This means that you need to be able to take concrete steps to make it happen.
Choose wisely. There is only one correct answer.
True. As opposed to goals that are too expensive or hard to achieve, an attainable goal is one that you can take steps to make happen.
4.
Two characteristics of a SMART goal are that they are _______.
Choose wisely. There is only one correct answer.
Measurable and time-bound. 'Specific' is a characteristic too.
5.
What is one reason why it is helpful to understand your personal values in financial planning?
Choose wisely. There is only one correct answer.
Values help predict your future financial behavior.