Which person will MOST LIKELY find the careerpath most suited to achieving his or her desires?

Dinah created a weighted list of her goals

Loans extended for longer periods of time often involve higher interest rates in order to…

Compensate the lender for greater risk.

Gloria decided to buy a fridge. She will make 12 payments of 150.How will she afford the fridge

She needs to budget for the extra monthly payments.

In what way do banks drive the United States economy?

They give loans that allow people to invest for the future

What would likely cause gentrification?

A large technology company opens a new facility

Based on the previous scenario which criteria should Julian use to decide his career options?

Will it help him earn money immediately?

Why is a sales tax a greater burden on low-income households than it is on high-income?

Taxes makeup a large share of income for lowincome household

Why are banks willing to pay people for keeping money in savings accounts?

banks can invest that money and create profits for the bank

Which of the following BEST explains how stock markets affect the economy?

They often affect consumer confidence

Which sentence best describes a title pawn lender?

They take the value of one's vehicle as collateral

How is compound interest different from simpleinterest?

Compound interest pays on both principal and accumulated

Which of the following BEST describes interest?

the price paid for using someone else's money

What are the benefits of borrowing from payday lenders?

The loans are fast and require no credit check

Which of the following certificates of deposit will earn the lowest amount of interest?

a $500 CD, with an annual interest rate of 2 percent

How is bond different from stocks?

A bond is a loan to the gov't to help the gov't pay its debt

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Unit 5: Personal Finance Review Part 1

30 termsStudBud Administration289 plays

#Economics #12thgrade #PersonalFinance #Budgeting

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Questions 30

Answers

1
If Nick only has $100 which item should he NOT buy?
Scooter $54.25
Sports Jersey $16.54
Athletic Shoes $45.24
Headphones $21.12
2
Which person will MOST LIKELY find the careerpath most suited to achieving his or her desires?
Camila moved to a new city after because her friends did
Nathan researched the career path of his favorite celebrity
Dinah created a weighted list of her goals
Marc allowed his mother to choose his college
3
Which type of financial institution require a membership, offer lower interest rates ?
Banks
Title Pawn Lenders
Pay Day Lenders
Credit Unions
4
Which soft skill is a worker’s ability to efficiently organize your work hours ?
Time Management
Punctuality
Good Character
Work Ethic
5
Julian got average grades. He wants to stay home and help pay the bills. What should he do?
Get a Job Immediately
Attend Technical School
Enlist in the Military
Attend University
6
Loans extended for longer periods of time often involve higher interest rates in order to…
Compensate the lender for greater risk.
Encourage consumers to buy durable goods
Encourage savings.
Compensate the buyer for using savings to make a purchase.
7
Which of the following taxes is MOST Regressive?
Sales Tax
Luxury Tax
Income Tax
FICA
8
Gloria decided to buy a fridge. She will make 12 payments of 150.How will she afford the fridge
She needs to budget for the extra monthly payments.
She needs to change her current career choice and income
She doesn't need to do anything. She can afford it.
She needs to charge the payments to her credit card
9
In what way do banks drive the United States economy?
They set interest rates and payment policies.
They give loans that allow people to invest for the future
They determine who can invest in businesses.
Their success or failure affects the availability of money
10
What would likely cause gentrification?
A manufacturing company closes it's main factory in the city
A city lowers its property tax rate
A large technology company opens a new facility
A city decides to build a bypass highway
11
What type of financial institution offers a variety of services to the general public?
Banks
Pay Day Lenders
Credit Unions
Title Pawn Lenders
12
Based on the previous scenario which criteria should Julian use to decide his career options?
Will it help him get into a prestigious school?
Will it help him meet diverse people?
Will it help him purchase a home quickly?
Will it help him earn money immediately?
13
Why is a sales tax a greater burden on low-income households than it is on high-income?
The taxes will apply to high-income households less often
The majority of taxes collected is from low income household
The number of taxable high-income households is greater
Taxes makeup a large share of income for lowincome household
14
In order to protect against a risk of accidental property damage, you need...
An Annuity
A Security Agency
A Mortgage
Insurance
15
Typically, property tax revenue is used to fund…
Social insurance.
Local governments.
National defense.
State governments.
16
The BEST example of a progressive tax in the United States is:
Social Security Tax
Income Tax
Sales Tax
Excise Tax
17
_______________ is the ability to repay a loan.
Capital
Capacity
Collateral
Character
18
If a bank pays 3% interest on savings accounts, how much interest will it charge for loans?
The discount rate
3%
Less than 3%
More than 3%
19
Property taxes are ad valorem taxes. This means property taxes are based on...
The property owner's income.
The value of the property.
The property owner's job
The use of the property.
20
Why are banks willing to pay people for keeping money in savings accounts?
banks are rewarded by the federal government
banks can invest that money and create profits for the bank
it forces depositors to assume all of the financial risks
banks are able to inspect the money for counterfeits
21
Which soft skill refers to doing the right thingevery time?
Good Character
Team Work
Communication
Punctuality
22
Which of the following BEST explains how stock markets affect the economy?
They encourage people to think long-term about their money
They accurately predict recessions and recoveries
They often affect consumer confidence
They are a primary source of cash.
23
Which sentence best describes a title pawn lender?
They lend money on the equity accrued on one’s home value
They serve communities without access to traditional banking
They take the value of one's vehicle as collateral
They require credit checks for a fixed long term loan
24
How is compound interest different from simpleinterest?
Compound interest does not pay on principal.
Compound interest returns a smaller income
Compound interest can only be applied annually
Compound interest pays on both principal and accumulated
25
Which of the following BEST describes interest?
the amount a customer deposits at a bank
the price paid for using someone else's money
the income a worker is paid for doing a job
a loan a bank makes to a customer
26
What is the BEST way for potential employees to increase their chances of being hired?
increase their human capital
rely on personal connections
disparage other applicants
reduce their salary demands
27
What are the benefits of borrowing from payday lenders?
The fees are cheap to pay back
The interest rates are low compared to other lenders
The credit checks are difficult to pass
The loans are fast and require no credit check
28
In the U S, the federal excise tax on gasoline is 18.4¢ per gallon. What type of tax is this?
Regressive
Income
Proportional
Progressive
29
Which of the following certificates of deposit will earn the lowest amount of interest?
a $600 CD, with an annual interest rate of 4 percent
a $500 CD, with an annual interest rate of 2 percent
a $1,000 CD, with an annual interest rate of 3 percent
$200 CD, with an annual interest rate of 5 percent
30
How is bond different from stocks?
A Bond decreases in value over time
Bonds and mutual funds are the same thing
A Bond represents corporate ownership
A bond is a loan to the gov't to help the gov't pay its debt

Unit 5: Personal Finance Review Part 1 Flashcards | StudBud