Personal Finance Semester Exam Review

Front

Harper is planning to apply for college and wants to qualify for federal financial aid. What document must she file?

Back

FAFSA

Front

Who receives and uses the information submitted in your FAFSA?

Back

The schools you’ve applied to and the government to determine your eligibility for financial aid

Front

Which of the following sources does not typically provide scholarships to college students?
private foundations,
state governments,
local businesses,
credit card companies

Back

credit card companies

Front

Which of the following is NOT typically considered a component of personal finance? Budgeting your expenses, Saving for retirement, Understanding tax laws, Memorizing currency exchange rates

Back

Memorizing currency exchange rates

Front

When deciding on a career path after high school, what should Ethan do?

Back

Collect data and use a rational decision-making model to weigh the alternatives.

Front

Which of the following is a key advantage of using a rational decision-making process? Options: It ensures decisions are made quickly without much thought., It allows for decisions to be made based on gut feelings., It provides a structured approach to evaluate all possible options., It relies solely on past experiences to make decisions.

Back

It provides a structured approach to evaluate all possible options.

Front

After graduating high school, Jackson decided to enter the workforce immediately. What is a benefit of his decision?

Back

Gain valuable work experience

Front

What are the benefits of pursuing a two-year degree or certificate program at a community college?

Back

Shorter degree completion timeline, More affordable tuition and fees, Career fields that are in demand.

Front

What cognitive bias is Alex experiencing when he feels uneasy and dissatisfied with his own life after seeing his peers enjoying exciting experiences?

Back

Fear of Missing Out (FOMO)

Front

Sarah is reviewing her pay stub and wants to see the total amount deposited in her checking account from the pay period. Which section will provide Sarah with this amount?

Back

net pay