Personal Finance Final Exam

Which of these is a true statement?

• Planning for long-term goals is not as important as determining daily expenses.
• Personal ambitions and goals need to align with the financial prospects of a chosen career.
• Financial security is always more important than career interest and satisfaction.
• Daily living expenses must be met before you can plan long-term goals.

Which of the following is true of college?

• College costs money, but community college and trade schools are free.
• College is the only way to get ahead in life.
• College may help you fulfill your personal and career goals.
• Attending college is a guarantee of personal happiness.

What is one difference between a Bachelor's degree and an Associate's degree?

• an Associate's degree is usually free
• a Bachelor's degree requires more time and credits
• an Associate's degree is only offered for business subjects
• a Bachelor's degree is not useful for the sciences

Which of the following benefits has the potential to earn you the most money?

• 401k or other retirement program
• child care benefits
• free lunch program
• two weeks paid vacation time

Locate 1 on Caleb’s pay stub. How much does Caleb earn when he works overtime?

• $12.50 per hour
• $18.75 per hour
• $22.50 per hour
• $25 per hour

Locate 2 on Caleb’s pay stub. What is the sum of Caleb’s deductions this pay period?

• $329.14
• $264.14
• $6,122.63
• $1,858.36

Locate 3 on Caleb’s pay stub. What is Caleb’s year-to-date gross pay?

• $20,507.81
• $1,093.75
• $1,000.00
• $8,262.55

How much will Caleb receive on payday?

• $1,093.75
• $1,000.00
• $14,385.18
• $764.61

Which of these is a form of earning?

• wages
• theft
• a lottery win
• an inheritance

Which of the following benefits has the potential to earn you the most money?

• 401k or other retirement program
• child care benefits
• free lunch program
• two weeks paid vacation time