Personal F pre-test

1. Your abilities include _____.

• • the things you do well 

  •  

• • your mental competence

• • the skill you need to do something

• •  

  • all of the above

2. Career planning is done _____.

• • after high school 

  •  

• • throughout a lifetime

• • once in a lifetime

• • in college 

3. What are the three main types of taxes?

• • income, sales, and property 

  •  

• unemployment, sales, and property

• •  state, property, and unemployment

• • federal income, unemployment, and state

4. The total amount of earnings made over a one-year period after all deductions have been taken is _____.

• 
  

  • gross annual income

  •  

• • gross monthly income 

• • net annual income 

• • net monthly income

5. When it comes to personal savings, what does the acronym PYF stand for?

• • Prepare Your Future 

• • Prepare Your Finances 

• Pay Yourself First 

• • Prepay Your Finances

6.  A saver who wants her savings insured by the FDIC (Federal Deposit Insurance Corporation) wants to use this savings option.

• • stocks 

  •  

• • bonds 

• • mutual funds

• • savings account

7. Protection against risk is the primary reason people purchase this type of policy.

• • auto insurance 

  •  

• • health insurance

• • home insurance 

• • all of the above

8. An example of a financial institution is _____.

• • a department store 

  •  

  •  

• • a bank

• • a school

• • an ATM machine

9. Which of the following statements is NOT correct?

• •  A debit card allows for an immediate electronic transfer of money from a cardholder’s savings or checking account.

• •  A debit card is essentially a paper check but doesn’t require the processing time a check does. 

• • A debit card is handy in an emergency when you don’t have the money to spend. 

• • A debit card is a pay-now payment type with no grace period for payment.

10. Lenders use credit agencies to determine _____.

• • an applicant’s credit score 

  •   

• • whether an applicant has any outstanding debts or defaults

• • whether an applicant has any outstanding debts or defaults

• • all of the above