Setting Your Goals and Putting Your Plan Together – test

Test your knowledge of this lesson.

Question 1:
An emergency fund is:

A – Money set aside for unexpected expenses or events – True
B – Money set aside to meet retirement expenses – False
C – Money set aside to take advantage of opportunities – False

Note: An emergency fund is money set aside for unexpected expenses or events.

Question 2:
When setting financial goals they should be:

A – Broad, measurable and have a definite timetable – False
B – Conceptual, measurable, achievable and have a definite timetable – False
C – Written, specific, measurable, achievable and have a definite timetable – True

Note: When setting financial goals they should be written, specific, measurable, achievable and have a definite timetable.

Question 3:
Once you have set your specific goals, you should:

A – Arrange them by dollar value – False
B – Prioritize them – True
C – Arrange them by their timetable – False

Note: Once you have set your specific goals, you should prioritize them.