Personal Finance Vocabulary Quiz! Trivia
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What do you know about personal finances? Do you imagine you can succeed at taking this quiz? Personal finance is about meeting personal and financial goals, whether it’s having enough for short term economic demands, planning for retirement or saving for your child’s college education, or maintaining a steady budget. Personal finance is about learning how to manage money. Take this quiz and see how much you know about personal finance.
- 1.
Managing money throughout life in order to reach financial goals is called____________________.
- A.
Financial Planning
- B.
Financial Goals
- C.
Well-being
- D.
Emotional
Correct Answer
A. Financial PlanningExplanation
Financial planning refers to the process of managing money throughout one's life in order to achieve specific financial goals. It involves setting financial objectives, creating a budget, saving and investing money, managing debt, and making informed financial decisions. Financial planning helps individuals and families to effectively allocate their resources, minimize financial risks, and achieve long-term financial stability and well-being. It is a comprehensive approach that takes into account various aspects of personal finance and helps individuals make informed decisions to achieve their financial goals.Rate this question:
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- 2.
_____________________________ consists of feeling good about one's life.
- A.
Financial Planning
- B.
Financial Goals
- C.
Well-being
- D.
Physical
Correct Answer
C. Well-beingExplanation
Well-being refers to the overall state of feeling good and satisfied with one's life. It encompasses various aspects such as physical, emotional, and mental health, as well as social relationships and personal fulfillment. Feeling good about one's life is a key component of well-being, indicating a sense of happiness, contentment, and positive outlook towards life. Financial planning and financial goals focus specifically on financial aspects, while physical refers to the physical well-being of an individual. Therefore, well-being is the most appropriate option as it encompasses the broader concept of feeling good about one's life.Rate this question:
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- 3.
The objectives that a person seeks to accomplish are called the _____________________________.
- A.
Well-being
- B.
Financial Well-being
- C.
Financial Planning
- D.
Financial Goals
Correct Answer
D. Financial GoalsExplanation
The objectives that a person seeks to accomplish in terms of their finances are referred to as financial goals. These goals can include saving for retirement, buying a house, paying off debt, or achieving financial independence. By setting clear financial goals, individuals can create a roadmap for their financial future and work towards achieving them. Financial goals are an essential component of financial planning and can contribute to overall financial well-being.Rate this question:
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- 4.
When a person is able to manage their money to give them a sense of understanding, competence, and control, this is called__________________________.
- A.
Well-being
- B.
Financial Well-being
- C.
Financial Planning
- D.
Goals
Correct Answer
B. Financial Well-beingExplanation
Financial well-being refers to the state of being financially secure and content. When a person can effectively manage their money and achieve a sense of understanding, competence, and control over their finances, it indicates that they have attained financial well-being. This means that they have a clear understanding of their financial situation, are competent in making financial decisions, and feel in control of their financial future. Financial well-being is essential for overall well-being as it provides a sense of stability, reduces stress, and allows individuals to meet their financial goals and needs.Rate this question:
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- 5.
The domain that pertains to a person's feelings is called ________________________.
- A.
Financial
- B.
Social
- C.
Emotional
- D.
Physical
Correct Answer
C. EmotionalExplanation
The domain that pertains to a person's feelings is called emotional. This refers to the range of emotions and feelings that an individual experiences, such as happiness, sadness, anger, fear, and love. It encompasses one's emotional well-being, emotional intelligence, and ability to manage and express emotions in a healthy and appropriate manner.Rate this question:
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- 6.
The ________________________ domain is how people network with other people.
- A.
Social
- B.
Financial
- C.
Emotional
- D.
Intellectual
Correct Answer
A. SocialExplanation
The correct answer is social because the question is asking about the domain in which people network with other people. Networking typically involves social interactions and building relationships with others. The other answer options (financial, emotional, intellectual) do not directly relate to networking with other people.Rate this question:
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- 7.
Which domain pertains to taking care of the body?
- A.
Physical
- B.
Emotional
- C.
Intellectual
- D.
Financial
Correct Answer
A. pHysicalExplanation
The domain that pertains to taking care of the body is physical. This domain focuses on maintaining and improving physical health through activities such as exercise, proper nutrition, and adequate rest. It involves taking care of one's physical well-being, including aspects such as fitness, hygiene, and overall physical wellness.Rate this question:
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- 8.
Which domain pertains to increasing a person's knowledge?
- A.
Physical
- B.
Social
- C.
Emotional
- D.
Intellectual
Correct Answer
D. IntellectualExplanation
The domain of intellectual pertains to increasing a person's knowledge. This domain focuses on cognitive abilities, critical thinking, problem-solving, and acquiring new information and skills. It involves activities such as reading, studying, researching, and engaging in intellectual pursuits. By actively engaging in intellectual activities, individuals can expand their knowledge, enhance their understanding of the world, and develop their intellectual capacity.Rate this question:
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- 9.
Which domain helps a person to ensure their finances and money is in order?
- A.
Social
- B.
Physical
- C.
Financial
- D.
Intellectual
Correct Answer
C. FinancialExplanation
The domain that helps a person ensure their finances and money is in order is the financial domain. This domain focuses on managing and organizing one's financial resources, such as budgeting, saving, investing, and planning for the future. It involves understanding and making informed decisions about income, expenses, debt, and financial goals. By actively engaging in the financial domain, individuals can gain control over their finances and work towards achieving financial stability and security.Rate this question:
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- 10.
A person who feels good about themselves and manages their money very well would have a________________________.
- A.
High well-being
- B.
Low well-being
- C.
Medium well-being
- D.
Small well-being
Correct Answer
A. High well-beingExplanation
A person who feels good about themselves and manages their money very well would have high well-being. When someone has a positive self-image and is able to effectively handle their finances, it indicates a sense of self-confidence, satisfaction, and overall contentment with their life. This person likely experiences a high level of emotional and financial well-being, leading to a greater sense of fulfillment and happiness.Rate this question:
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Current Version
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Mar 22, 2023Quiz Edited by
ProProfs Editorial Team -
Sep 03, 2014Quiz Created by
Shawkins_1
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