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.
Defining your financial goals involves all of the following except:
Choose wisely. There is only one correct answer.
Knowing your tax bracket. Knowing your tax bracket is important but not necessary for calculating defining your goals.
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.
Which career or educational path is likely to pay the most money once you have a career?
Choose wisely. There is only one correct answer.
Bachelor's degree. As a rule, a bachelor's degree will pay the most. There are exceptions to this rule, however.
4.
You should consider revising your goals if _______.
Choose wisely. There is only one correct answer.
Your income increases or your income decreases. If your income changes at all, you may need to cut the amount you are saving or have the opportunity to save more.
5.
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.