State Review – Adult Roles & Financial Literacy B



State Test Study Guide – Adult Roles & Financial Literacy B

State Test Study Guide – Adult Roles & Financial Literacy B: Answer Key

1. One way to reduce the risks that lead to abuse would be to learn as much as possible about children's development.

2. The LEAST important consideration when making the decision to become a parent is receiving approval from parents.

3. What percent of your monthly income is the recommended amount to be set aside for housing? 25-35

4. The word bonding is best described as a feeling of love, caring, and concern for another person.

5. Serious brain injury may be caused to an infant by severely shaking the baby.

6. Parenting skills can be developed through knowledge and effort. This means you can learn a lot from a class or a good book, and it might not come naturally.

7. In mate selection, you attract what you are, not what you want.

8. An ectopic pregnancy is the condition where the fertilized egg implants in the fallopian tube. This can be life-threatening.

9. A common characteristic of abusive parents is low self-esteem.

10. The term budget refers to a financial tool that helps you manage income and expenses.

11. It is true that when partners have premarital sex, they usually end the relationship by breaking up.

12. Postpartum depression is characterized by moodiness. This is fairly common among women after child birth due to changing hormone levels, and a change in lifestyle and stress level. If she ever feels like doing harm to her child or herself, she needs to seek help immediately from a professional.

13. The financial impact children have on the family budget needs to be planned for throughout the child's life. It is best if a couple can look at their income and spending plan to make needed adjustments before the child arrives.

14. What percent of your monthly income is the recommended amount to be set aside for housing? 25-30

15. The term budget means a financial tool that helps you manage income and expenses.

16. Liquidity is turning assets quickly into cash. A savings account is very liquid. Investments tied up in a home or stocks are less liquid.

17. How much would you have to invest if you saved 14% of your $600 monthly income? $84

18. Dating can be misleading as it relates to mate selection, because people are usually on their best behavior while dating.

19. Jane had a bad day and didn’t sleep well last night. Her three-year-old daughter is being difficult. Jane is getting angry and feels that she might lose control. What could Jane do to improve the situation for herself and her daughter? She could call a friend to take her daughter for awhile.

20. What percent of your monthly income is the recommended amount to be set aside for savings? 5-10

21. With regard to investments, risk means an uncertain outcome. In other words, you can’t be sure about what will happen and whether you will make money on the investment.

22. When developing a monthly financial budget, you should include these factors: transportation, entertainment, insurance, savings, clothing, housing, and utilities.

23. Checking accounts are NOT an investment service. These accounts allow you to store your money and pay for goods and services in a convenient way, rather than carrying large amounts of cash.

24. It is a MYTH that the divorce rate for teen parents is the same as any other couples who marry (in fact, it is higher).

25. When resolving conflicts (in marriage) one should: Be direct when expressing one's feelings by using "I messages"; Listen to one another and speak one at a time; Discuss the problem in private with only their spouse.

26. The BEST way to disclose needs and expectations to your spouse is to be open and honest in expressing your needs.

27. A person who is very jealous, short-tempered, and must be in control is MORE likely to be an abuser.

28. Two factors that will influence your investment choice are safety and income. This means you consider the level of risk involved, as well as the amount of dividends usually paid to shareholders.

29. The rule of 72 is useful in calcuating the time required to double an investment.

30. When a husband and wife have their first child, even a baby who is wanted adds major stress to the marriage. It is very wise to be sure the marriage is stable before deciding to have children.

31. Parental disapproval of marriage, teen marriages, and marrying due to pregnancy are marital risks. This means divorce is more likely.

32. Which investment has low risk, a low rate of return, and is long-term? savings bonds

33. Prenatal care increases the mother's chances of having a healthy baby. Among other reasons, this is because of the opportunity to find problems early in pregnancy, get accurate advice from a professional, and have questions answered.

34. What are the different types of abuse? Physical, neglect, sexual, and emotional.

35. When evaluating investment alternatives you should remember that it is wise to diversify. This means you don’t put all your eggs in one basket.

36. When a couple shares all types of roles and responsibilites it is termed an equalitarian marriage (also called egalitarian). This is different than dividing responsibilities by traditional gender roles in our culture.

37. A common mistaken belief about retirement is that you will have plenty of time to start saving for retirement.

38. Parents can prepare for the financial expenses of having children by carrying medical insurance to help pay the bills.

39. Mary wanted to go to the movies with her friends on Saturday. Her mother said Mary could go if she had her homework finished before the movie. Mary didn't finish her homework. The LOGICAL consequence to Mary's actions would be that Mary stays home and doesn’t go to the movies.

40. People who stay with an abusive spouse usually develop low self-esteem.

41. Having sex before marriage usually increases the chances that the couple will break up.

42. Communication skills are important for a Strong Marriage. This means that both what you say, and how you say it are crucial.

43. An effective technique for soothing a crying infant is to massage or caress the limbs.

44. The theory of propinquity in mate selection states that we marry people we know.

45. Techniques to soothe a crying baby fall into three categories: touch, motion, and sound.

46. Which is the MOST common type of anesthesia used in childbirth in the United States today? Epidural

47. If Jimmy doesn't come home from the party when he is supposed to, a logical consequence would be: not getting to go to the next party.

48. The MOST common challenge faced by single parents are finances. This is because most single parents with primary custody are women. A woman’s standard of living is usually reduced dramatically after a divorce.

49. Discipline should be relevant to the misbehavior. This means it is related.

50. A 401(K) plan is a portion of salary deducted from gross pay and placed in a special account. The purpose of a 401(k) is to save for retirement.

51. Parents who were abused as children would be at the highest risk to abuse their children. This means they have to better prepare themselves and take more precautions to reduce their risk.

52. The PERMISSIVE style of parenting can be described as children being in charge of making their own decisions. Few limits are usually present.

53. Characteristics of successful marriages include fidelity and commitment. This means the partners are faithful to each other and plan to stay married through hard work and sacrifice.

54. The test for congenital disorders done by drawing fluid from the womb is called amniocentesis.

55. When choosing techniques for comforting a crying baby, remember that parents may need to try several methods before finding one that works.

56. An advantage of consistency in discipline is that children know what is expected and feel more secure.

57. When setting limits as a parent, limits should be in the child's best interest.

58. What percent of your monthly income is the recommended amount to be set aside for food? 15-20

59. The heart and brain begin to form during the first trimester of pregnancy.

60. Honeymoons are usually overglamorized. This means our society places too much importance on having an exotic trip, or a perfectly romantic time.

61. The interest rate is the primary factor that will affect how much is earned in a savings account after you place your money in the account.

62. To promote high self-esteem in children, parents should encourage decision making. Parents should offer children a few acceptable choices starting when they are young, and as often as possible thereafter.

63. The majority of people over age 65 are in good mental and physical health, despite what young people might guess.

64. The MOST important purpose of the engagement period is to give the couple an opportunity to make sure the decison to marry is right.

65. One of the most important decisions a person makes in life is who to marry.

66. The person who receives the benefit of the policy if the insured person passes away is called the beneficiary.

67. Group health insurance is typically offered by employers.

68. An example of a fixed expense is a house (mortgage) payment.

69. Warning signs of fraud in an investment include: High rate of return on the investment, Payment required up front, & Exaggerated claims. If it sounds too good to be true, then it probably is.

70. Gas for transportation is an example of a flexible expense.

71. The Fair Credit Reporting Act includes: maintenance of all up-to-date information; credit report protection; consumer’s have access to their files; and the consumer can correct misinformation by contacting the reporting agency.

72. The phrase “pay yourself first” means that you put money in your savings account before paying bills.

73. The first step in becoming financially independent is to spend less money than you earn.

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