Financial Literacy Final Review

Financial Literacy Final Review

10th Grade

36 Qs

quiz-placeholder

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Financial Literacy Final Review

Financial Literacy Final Review

Assessment

Quiz

Social Studies

10th Grade

Hard

Created by

Tyler Short

Used 1+ times

FREE Resource

36 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are overdraft fees?

Fees charged when you withdraw more money than you have in your account

Fees for using an ATM

Monthly maintenance fees

Fees for transferring money between accounts

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is rent-to-own?

A process where you rent an item and have the option to purchase it later

A type of mortgage

A rental agreement with no purchase option

A lease for a car

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the rule of 72?

A method to calculate interest rates

A formula to estimate doubling time

A rule for calculating taxes

A guideline for budgeting

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Using the rule of 72, how many years would it take to double your money with an APR of 3%?

24 years

36 years

18 years

12 years

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define opportunity cost.

The cost of a missed opportunity

The cost of an investment

The cost of goods sold

The cost of production

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You have been waiting for a PS5 to go on sale for $300. Just as the sale begins, your car breaks down and needs repair. You make the responsible decision and pay $300 to repair your car. What is the opportunity cost?

The cost of the car repair

The cost of the PS5

The cost of both the car repair and the PS5

The cost of future repairs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What might be some opportunity costs of attending college?

Earning a full-time salary

Traveling the world

Starting a business

All of the above

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