Spring Semester Final Review (MMA)

Question 1

What do a restaurant receipt and a checking account statement have in common?

Accepted Answer

You should review both of them closely to make sure they're accurate.

Question 2

What is Simple Interest?

Accepted Answer

Simple interest is calculated on principal alone

Question 3

Which action would INCREASE the money in Shirley's checking account?

Accepted Answer

She uses her smartphone to deposit a check from her grandpa.

Question 4

What is the financial benefit of obtaining a college degree?

Accepted Answer

You have higher potential lifetime earnings.

Question 5

Bo does a lot of his work and shopping online. What can he do when he is online to protect himself from identity theft?

Accepted Answer

Conduct banking or online shopping on a secure wifi network.

Question 6

Researching which online store has the best price on a tent. Is an example of Comparison shopping

Accepted Answer

True

Question 7

Anna is interested in becoming a tutor. Which soft skill should she list on her resume?

Accepted Answer

Strong communication skills

Question 8

If you have a part-time job as a high school student, what would be the MOST common deduction from your paycheck?

Accepted Answer

Taxes

Question 9

Which of these is a key benefit of having a high credit score?

Accepted Answer

You will have an easier time getting into a good college.

Question 10

Marco is excited to apply for his first summer job. needs to submit a resume and is unsure of what to include.

Accepted Answer

His involvement in extracurricular activities & leadership roles

Question 11

NEEDS are required expenses you cannot avoid, while WANTS are optional items you choose to buy.

Accepted Answer

True

Question 12

J is ready to invest. He will take a moderate amount of risk and, most importantly, wants a diversified portfolio.

Accepted Answer

J should invest in an index fund.

Question 13

Rita is creating a budget. What are the two main categories that will help her form a budget?

Accepted Answer

Income and expenses

Question 14

What is compound interest?

Accepted Answer

compound is calculated on the principal, interest you’ve already earned.

Question 15

"pay yourself first!" means

Accepted Answer

save part of your paycheck first, before you buys anything

Question 16

If you are trying to get a loan to pay for a used car, what type of interest rate should you be looking for?

Accepted Answer

You want a low interest rate so the total you pay is less.

Question 17

Where does money come from when you use a credit card?

Accepted Answer

credit card company will pay what you owe, and you pay card company later

Question 18

All of the following are reasons why digital citizenship is important EXCEPT...

Accepted Answer

it aids in building financial independence.

Question 19

A stock can earn money by selling it for more than purchased it for or through dividends

Accepted Answer

True

Question 20

a new video game system cost $300. you $30 per month, you spend $15 and save $15. It will be 24 mons. b4 you have$

Accepted Answer

False

Question 21

You should Call/email the company several times with any questions that he has before the interview.

Accepted Answer

False

Question 22

Which type of financial aid must be paid back with interest?

Accepted Answer

Loan

Question 23

What is the purpose of setting up and putting money into an emergency fund?

Accepted Answer

use for common monthly expenses like your rent, insurance, and bills.

Question 24

what help you know exactly how much income you are making and how much is being spent on monthly expenses.

Accepted Answer

A budget

Spring Semester Final Review (MMA)

Questions 24

Spring Semester Final Review (MMA)

Questions 24