Certificate Correction Form


To complete your test, please fill out the name, client #, and date fields. You must answer all questions. There is only one correct answer per question, so please check only one box per question. When you are done answering all questions please click the submit button at the bottom of this page. There will be a completion certificate mailed to you upon successful completion of the final test.

Simplified Guide to Financial Life Skills

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1. When setting financial goals for your family, they should include which of the 3:

2. When trying to determine whether or not you need financial counseling, you should ask yourself:

3. When trying to increase your income, you should try one of the following:

4. Why is a budget important?

5. When working on the monthly "Budget Worksheet" within the Life Skills Book, the Fixed Expenses include the following types of bills:

6. Goals should be a part of setting up your budget?

7. Based on the "Family Income Percentage Guide" within the Life Skills Book, what percentage of Savings should go towards your Net Income if income is close to $24,000 per year?

8. When should you start preparing for your financial future?

9. Four things in which you should identify in your will are 1-Executor 2-List of your property 3-List of your beneficiaries and 4-Choose a guardian which will care for your children.

10. The 3 C's of Credit are, Character-Do you pay your bills on time?, Capacity-What is your ability to pay back the loan?, Collateral-What is the security to back up the loan?

11. A Credit Report can be used for the following:

12. When looking to borrow money, you should do the following:

13. When working on a budget, you should:

14. There are two basic types of debt:

15. When working with creditors, you should

16. You can receive information on your credit from:

17. A Net Worth Statement, of which there is one for reference in the Life Skills Workbook, should contain the following items:

18. What are your payment options on a credit card account:

19. To better handle your debt payments, your debt to income ratio should be below:

20. Per the "Rule of 72" within the Life Skills workbook, if you were to earn 10% interest on an investment of your money, according to the chart, it would take you how many years before it doubled?:

21. Gross Income is the amount that you take home after deductions are made by your employer.

22. Periodic expense can include:

23. A Savings account could include which of the following:

24. The largest factor that is calculated into a credit score (35%) is:

25. What credit score is the cut off point for high risk?:

26. State law requires that you carry car insurance.

27. The health insurance plan that allows you to choose your own doctors within a network of healthcare providers is a:

28. Which of the following factors could affect how much you pay for Life Insurance?:

29. Renter's Insurance will cover damages if:

30. Disability Insurance will cover: