Chapter 1 Study Guide for FINA 2302 - Fall 2025

Practice flashcards based on lecture notes covering key concepts from Chapter 1 of FINA 2302, focusing on biblical principles of money management, wealth, and faith, as presented in the study guide examples.

What does Jesus imply when he says, "It is very hard for a rich person to enter the Kingdom of Heaven"?

Wealth can easily replace God as the ruler in a person's life.

What does Jesus teach about the relationship between worldly wealth and true riches of heaven?

Management of worldly wealth is a measure of whether or not you will be trusted with the true riches of heaven.

Which of these is the BEST indicator that God is interested in our financial success and prosperity?

The Bible contains more than two thousand verses giving guidance on money and possessions.

According to the text, why is money management important to God?

Money management reveals our true beliefs and faith in God.

In the story of the owner and his managers, what was Jesus trying to convey?

Everyone’s ultimate accountability.

God’s ownership over everything is clearly established throughout the Bible. He is the owner, and the managers _ .

only have responsibilities

How did the Owner assess the managers' performance?

By holding the managers accountable for how they managed the property.

God's role as the Owner can be summarized as _ .

holding managers accountable for their actions

What kind of guidelines did the Owner set for property managers?

General guidelines with limits and restrictions

What is the main responsibility of a property manager based on the given text?

To be accountable for following the Owner's guidelines in managing the property.

What is the significance of one's attitude about money according to the text?

Attitude toward money is important regardless of the amount one has.

Why is it important to take action in personal finance?

Taking action is crucial for achieving financial success.

According to the text, why is it important to take action in financial management?

To demonstrate our faith through actions.

What is the importance of our attitude about money, according to the text?

It affects our relationship with God and others, regardless of the amount we have.

What is the concept of delayed gratification in personal finance?

Sacrificing current consumption for future financial gain.

Which of the following statements best reflects the principle discussed in the text about personal finance and faith?

Lack of contentment is the root cause of financial problems.

According to the principles of wise money management, what does living with "margin" refer to?

Living with peace and foresight.

What does the faithful money manager believe about debt?

Debt should be avoided at all costs.

Which of the following skills is NOT mentioned as a key skill for a wise money manager?

Tax planning

Which of the following is NOT mentioned as a characteristic of money management?

Advanced mathematical abilities

What is materialism?

Valuing material possessions over spiritual pursuits or people

How does materialism affect one's relationship with God?

Materialism creates self-sufficiency and independence from God.

What is the key to financial freedom?

Sacrificing later to secure a better future.

According to the Bible, what happens to the borrower?

The borrower becomes a servant to the lender.

What does the Holy Spirit produce in our lives, according to the Bible?

Love, joy, peace, and self-control