Consumer Economics Prequiz

Personal Finance is all about......(choose best response)

• not spending

• managing money decisions

• investments

• getting rich

Consumerism is all about.... (choose best response)

• saving money

• investing money

• buying things

• selling things

What is the average household credit card debt in America?

• 6,000

• 10,000

• 15,000

• 20,000

What is the average student loan debt in America?

• 5,000

• 15,000

• 35,000

• 50,000

Which government program/agency guarantees money, in financial institutions, up to a certain amount? (Currently insured up to $250,000)

• FDIC

• FHA

• EHFA

• FCCLA

An obligation of repayment, owed by one party to a second party. (owing money to anyone)

• interest

• ownership

• credit

• debt

Everyone should have the same financial plan. A budget that works for one will work for all.

• True

• False

Which of the following BEST explains why you should learn personal finance?

• It helps you achieve a profitable career.

• PF skills are better learned through trial and error

• To eliminate financial mistakes and promote future benefits

• Personal finance skills are highly complex

How do you build good credit?

• Don't pay off bills

• Pay off bills right as you get them

• Have a checking account

• Have good connections

Which of these most likely have interest?

• loans

• savings accounts

• credit cards

• all of the answers