SS7E10 Personal Finance Test

Front

Which of the following does a person need to know to plan an effective budget? Options: his or her credit score, personal income, statewide interest rates, adjustable rate mortgages

Back

personal income

Front

Which of the following is a characteristic of an effective budget? Options: too much income, investing more than you save, expenses greater than your income, spending less than your income

Back

spending less than your income

Front

Retirement, college education, wedding, a nice trip, and a new truck are all what?

Back

reasons people save

Front

David wants to buy a new car. Since the car costs more than the amount of money he has, David pays for half of the car out of his savings account and borrows the rest. David now has what?

Back

debt

Front

The amount of money you make each month is considered what? Options: credit, debt, income, interest

Back

income

Front

Barbara bought a $500 dress using her credit card. By the time she finished paying back the credit card company, Barbara paid $575 for the dress. The extra $75 was what?

Back

interest

Front

Having a budget, investing in the future, and staying out of debt are ways citizens ______________.

Back

manage their money wisely

Front

You need to purchase a pair of sneakers since they are required for physical education class. Which of the following is an example of effective decision making?

Back

You buy a pair of sneakers after considering fit, appearance, and cost.

Front

Which of the following allows people to increase their income? arguing with a boss, applying for a credit card, receiving more training, opening a checking account

Back

receiving more training

Front

Which form of payment is the most expensive for the buyer? Options: credit card, debit card, cash, check

Back

credit card