Semester Review Dollars & Sense 1st half

Front

How much money do you have available after depositing a $500 check into a savings account with 1% compounding interest for 4 years?

Back

Slightly more than $520

Front

You're about to go on your first job interview. In preparation, you read that you should be prepared to ask, not just answer, questions. Which of these is the best approach to use?
Options:
No need to prepare questions ahead of time -- you'll certainly think of some during the interview,
Brainstorm a list of 15-20 questions ahead of time -- you'll likely have time to ask at least 10 of them,
Create a list of questions, and then look up the answers yourself online -- that way you can test whether the interviewer is being honest with you,
Prepare 3 to 5 thoughtful question that you'd like the interviewer to answer -- choose things that you can't find out by researching the business yourself

Back

Prepare 3 to 5 thoughtful question that you'd like the interviewer to answer -- choose things that you can't find out by researching the business yourself.

Front

You've just turned 16 and obtained your first part-time job. You want to open a checking account as well as a savings account. Which of these questions is LEAST important to ask?
Does the bank you're considering also have an investments branch that can help you compound your money quickly?

Back

Does the bank you're considering also have an investments branch that can help you compound your money quickly?

Front

Which saving strategy is most likely to help Marcia meet her goal of saving for a laptop and an emergency fund of at least $500? Options: Go ahead and spend her paychecks junior year of high school, but save all the money she makes senior year; She should not worry about the emergency fund -- if she's got access to student loans, she can just pay for college expenses that way; Assume if she sets aside whatever is leftover after she pays bills and goes out with friends each month, she'll have more than enough for the laptop and the emergency fund; Determine how much she needs to save from every paycheck to afford the laptop and the emergency fund, and then auto-deposit that amount into a savings account so she can't spend it.

Back

Determine how much she needs to save from every paycheck to afford the laptop and the emergency fund, and then auto-deposit that amount into a savings account so she can't spend it.

Front

How should Marcellus approach the FAFSA this school year if he's unsure about starting college after graduation?

Back

He should file this fall regardless of what he decides, that way he has an opportunity for financial aid just in case.

Front

Which deduction is LEAST likely to be taken out of a high school student's paycheck from his after-school job at a department store? Assume he lives in a state that collects income tax.

Back

Health insurance premium

Front

How does LinkedIn relate to a resume and cover letter?

Back

Your LinkedIn profile will be similar to your resume, but LinkedIn allows for more features like uploading work samples, pictures, or media representation of your work experience.

Front

How should Madison proceed to maximize her chances of getting the job at the library? Options: Go to the library's Facebook page and send them a link to her LinkedIn profile with a message saying she'd like to apply, Submit her resume as well as a cover letter describing her passion for literature and her flexible availability on both weekends and evenings, Submit her resume, but don't prepare a cover letter because they didn't ask for one, Walk into the library right away and ask if she can have the job

Back

Submit her resume as well as a cover letter describing her passion for literature and her flexible availability on both weekends and evenings.

Front

Which of the following is a method of spending the money in your checking account?
Options:
Use a money order,
Take money from the ATM using your credit card,
Sign up for direct deposit from your employer,
Write a check for your purchase

Back

Write a check for your purchase

Front

Which of the following actions represents investing, rather than saving, your money? Buying shares in a company and holding them for at least 10 years without selling, Putting all of your spare change at the end of the day into a piggy bank, so you can afford a video game at the end of the month, Putting 10% of your paycheck each month into an emergency fund, Putting your entire tax refund each year you work during high school into a savings account to use toward first-year college expenses

Back

Buying shares in a company and holding them for at least 10 years without selling