Personal Finance Semester Test

Aria, David, and Ethan are on a mission to become financial superheroes! Which of the following is the smartest and most strategic move they can make with their money?

• Spending all available income

• Maximizing credit card rewards

• Covering emergencies and building wealth

• Investing in high-risk stocks

Avery, Maya, and Lily are chatting about their monthly budgets over lunch. Which of the following do you think often sneaks in as the biggest unplanned expense for most households?

• Entertainment

• Impulse purchases

• Groceries and eating out

• Credit card fees

Benjamin and Isla both started saving up for their dream gadgets by opening savings accounts. Why do their accounts usually earn interest?

• Because you deposit money regularly

• As compensation for the bank using your money

• As a bank's charitable gesture

• Due to government regulations

Rohan, Aria, and Ethan are on a quest to become economy detectives! Which economic metric should they investigate to get the clearest picture of the overall economic health?

• Corporate earnings

• Stock market prices

• Economic indicators

• Consumer sentiment

William, Elijah, and Abigail are dreaming big about their futures! What is the main thing a comprehensive financial plan helps them achieve?

• Their current bank balance

• Monthly spending habits

• Their financial goals and strategic planning

• Immediate debt reduction

Anika, Aiden, and Rohan are chatting about what helps them shine at work. What makes 'soft skills' unique compared to 'hard skills' when it comes to growing in their careers?

• Soft skills cannot be learned.

• Soft skills involve interpersonal abilities.

• Hard skills are always technical.

• Soft skills are less important.

6. David, Kai, and Benjamin are on a mission to create their very first personal budgets. Which super skill will help them unlock long-term financial success?

• Eliminating all discretionary spending

• Tracking expenses

• Investing aggressively

• Maximizing income

Luna, Lily, and Sophia are on a quest to uncover the secrets behind how credit card companies earn their profits. Which of the following is the main way these companies make money?

• Annual fees

• Interest charges

• All of the above

• Transaction fees

Abigail, Aria, and Aiden are chatting about their first jobs. Abigail brags about her gross income, while Aria is excited about her net income. Aiden wonders what the real difference is between the two. Can you help them figure it out?

• Net income represents total earnings

• Gross income is pre-tax earnings

• Net income excludes all deductions

• Gross income includes taxes

Grace, Elijah, and Abigail are brainstorming their next steps after high school! Which post-secondary path could they pick that skips the traditional college degree route?

• Online certification

• Four-year university

• Vocational training

• Community college