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Financial Algebra Q1 Quiz Flashcards | StudBud
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Financial Algebra Q1 Quiz
Financial Algebra Q1 Quiz
29 terms
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41 plays
Review of CH 1-3
Flashcards
29 cards
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Practice quiz
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Questions
29
Answers
1
Most people in the United States save ______________ percent of their income.
0-1%
20-25%
15-20%
10-15%
2
Hannah buys a car for $3,300 and sold it a week later for $4,100. How much did her net worth change at all?
Increase by $800
How did you get $800?
Decrease by $800
No increase or decrease
3
WSHS Finance Teachers prefer coffee from
Fresh Home Brewed
WaWa
Delivered to their desk
Starbcks
4
Liquid assets are those possessions that can be readily and easily converted to ____________.
Chocolate
Stocks or Bonds
Cash within ~24 hr
Liquid
5
The oppportunity cost to buy a $1 soda every day for five years instead of drinking water is:
$1,825
$1
$730
$365
6
Financial decision making involves all of the following except _____________.
evaluating your current financial position
convincing your friends to give you support
establishing goals
revising plans as necessary
7
Who's face is on the dime?
Winston Cleveland
Harry S. Truman
Franklin D. Roosevelt
Herbert Hoover
8
Generally, the ________ education and training you get, the _________ you will earn.
more, more
less, more
more, less
less, less
9
What is the southernmost state in our country?
Texas
Florida
Hawaii
California
10
Cash outflows include all of the following except
cell phone bill (utilities)
high priced car payment
birthday money
rent paid
11
A person's income depends on all of the following except
height
choice of career
any training received
education
12
You make $400 a month. 15 percent is held out of each paycheck for taxes, how much do you bring home?
$60
$350
$400
$340
13
Which of the following is not a source of income?
Car Payment
wages
Salary
Allowance
14
For our class, Risk is defined as ____________.
Work a dangerous profession
Likelihood of Loss
Skydiving
a physical challenge
15
The median home price in 2006 and in 2019 is
Less than $125,000
About $145,000
About $225,000
More than $700,000
16
Which of the following goals is not a financial goal?
Absolutely ALL of these are GREAT this is the answer
earn a college degree
give $100,000 to a charity
retire with $1,000,000 in assets
17
Good record keeping is important for dstate planning.
True
False
18
Short term goals will be accomplished in the next ____________.
2 years
5 years
Decade = 10 years
Year = 365 days
19
Sleepy, Happy, Sneezy, Grumpy, Dopey, Doc so who is missing?
Dopey
Bashful
Crazy
Sneezy
20
Interest is the rent paid on money
False
True
21
In Winter Springs, in which direction does water go down the drain?
It doesn't spin--it just goes in the drain
Clockwise
Both ways
Counter Clockwise
22
Long -term goals take at least _____year(s) to complete
30
20
5
10
23
All of the following are important to choosing a career except _____________.
compensation
interests
Benefits
Gender
24
Cody makes $175 a week working on cars but he spends $50 a week, how much money will he have in 1 year
$1750
$6500
$9100
$1500
25
What is the height of a basketball hoop in feet?
11
10
7
8
26
What is this used for?
Plumping lips
Hot-wax holder
Shaping nails
Curling eyelashes
27
Which of the following is a key component of risk management
jewelry
insurance
investments
cash
28
On our United States flag, the bottom stripe is red.
False
True
29
Your gross pay will be reduced by _______.
House Payments
Starbucks
Car Payments
Taxes