Financial Education Pre-Test
Quiz
•
Financial Education
•
10th Grade
•
Hard
Kara Victor
Used 2+ times
FREE Resource
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36 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Jenna is wondering how she can improve her financial well-being. Which of the following would contribute the most to her financial well-being?
Take a personal finance class to learn how to manage her money.
Pay her grandma back the money she borrowed to take a school trip last year.
Talk to her friends about how to manage her money better.
Open another checking account to help her organize her money.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Megan's mother suggested that she was experiencing the consequences of her trade-off regarding a decision she made to purchase a dress for prom. Which situation does Megan most likely find herself in for her mother to have made this comment?
Megan had shopped at several stores when she found the prom dress of her dreams and purchased it. She used the money she had saved for the prom dress PLUS most of the money she had saved for replacing the tires on her car. Now the tires need replacing and Megan is short on the cash needed to do the job.
Megan had shopped at several stores when she found the prom dress of her dreams. She checked online and found a coupon that enabled her to save 30% when she returned to the store to purchase the dress.
Megan had shopped in several stores and found six prom dresses she liked a lot. She brought 2 friends shopping with her to tell her which one looked best on her. After much deliberation, she chose the dress that was the least expensive of the 3 she liked best.
Megan had shopped in the store her mother recommended for her prom dress. She found two dresses she liked a lot. Megan purchased the one that was the most comfortable even though it cost $28 more than the other one.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Amber's academic adviser has asked her to set 3 academic goals for this semester. These goals are MOST LIKELY to be accomplished if:
Amber discusses her goals with her parents
Amber lets her friends set her goals
Amber writes her goals down
Amber thinks about her goals weekly
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Since Taylor was a young child she has kept her savings in a piggy bank. She likes this method of saving because she can have immediate access to the money if she needs it. Recently, in a class at school, discussion focused on why depository institutions are safer than her piggy bank. Some students' comments were based on fact while others were based on myths. Which aspect of security at a depository institution is NOT TRUE?
Depository institutions have insurance protection for up to $250,000 per depositor per account type. If something happened to the money in the bank, you would get the value of your account back as long as the deposited amount was no more than the insurance limit.
All money stored at a depository institution is kept safe at all times by numerous security measures.
Information about depositors and their accounts is kept in secure data storage.
Depository institutions have insurance protection. Depositors can have multiple accounts insured at the same depository institution as long as each account has no more than $100,000.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Dane is researching the topic of property taxes for a presentation he is doing in his Personal Finance class. He has come across the following statements he is considering adding to his presentation. Which should he EXCLUDEE because it is not correct?
Property taxes are assessed at the same rate for all types of property, including homes, land and building, regardless of location or whether they are used for business or personal use.
Property taxes are usually charged by state and local governments to pay for local schools and other services and expenses incurred by these governments.
Property taxes are commonly paid on automobiles. This tax usually paid once per year when the automobile is licensed
Property tax on homes, land and buildings are usually only paid once or twice a year.
6.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
To increase his net worth, Jackson could:
Increase his liabilities
Decrease his assets
Increase his market value
Increase his assets
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Amanda and Marcus just finished their Income and Expense Statement for last month. They discovered that they have a net gain. What does this mean and what should they do?
Amanda and Marcus are spending more money than they are earning. They need find a way to
balance their income and expenses by spending less on non‐contractual expenses.
Amanda and Marcus are earning more money than they are spending. They could place
additional money in savings and/or spend it on other expenses.
Amanda and Marcus are spending more money than they are earning. One of them should
consider getting a second job for a time to help boost their income.
Amanda and Marcus are earning more money than they are spending. They should increase
spending for non‐contractual items to bring their income into balance with the expenses.
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