Quiz – Savings Goals Framework

Question 1 of 6

1. Question

People who set specific financial targets are how much more likely to achieve them?

Two times

Correct Incorrect Correct answer

Three times

Correct Incorrect Correct answer

Ten times

Correct Incorrect Correct answer

No more likely

Correct Incorrect Correct answer

Question 2 of 6

2. Question

Which economist’s Mental Accounting concept is cited in the capsule?

Richard Thaler

Correct Incorrect Correct answer

Daniel Kahneman

Correct Incorrect Correct answer

Elizabeth Warren

Correct Incorrect Correct answer

Irving Fisher

Correct Incorrect Correct answer

Question 3 of 6

3. Question

The capsule recommends starting your savings journey with:

Five goals at once

Correct Incorrect Correct answer

One primary goal

Correct Incorrect Correct answer

No goals at all

Correct Incorrect Correct answer

Only very long-term goals

Correct Incorrect Correct answer

Question 4 of 6

4. Question

In the SMART framework, Measurable means you should:

Keep goals abstract

Correct Incorrect Correct answer

Attach numbers, like five thousand dollars

Correct Incorrect Correct answer

Avoid setting deadlines

Correct Incorrect Correct answer

Ignore your income

Correct Incorrect Correct answer

Question 5 of 6

5. Question

Match each SMART letter to its meaning for a savings goal.

Sort elements

Define exactly what you save for
Attach a concrete number
Keep it realistic for your income
Set a deadline

Specific

Correct Incorrect Correct answer

Measurable

Correct Incorrect Correct answer

Achievable

Correct Incorrect Correct answer

Time-bound

Correct Incorrect Correct answer

Question 6 of 6

6. Question

Priya says she wants to save more money someday. A friend suggests turning it into a real goal. Which restatement best follows the SMART framework from the capsule?

I want to be rich

Correct Incorrect Correct answer

I will save 3000 dollars for an emergency fund in 12 months

Correct Incorrect Correct answer

I will save whatever is left over

Correct Incorrect Correct answer

I hope to save something eventually

Correct Incorrect Correct answer