Unit 5: PF Test: Part 1 (SSEPF 1 & 3)

Front

Luna is evaluating her post-high school life choices. What is a rational decision-making model she can use to assess the costs and benefits?

Back

Economics-based decision-making

Answer explanation

SSEPF1

Front

What is the importance of evaluating costs and benefits in decision-making?

Back

To make informed decisions

Answer explanation

SSEPF1

Front

James is planning for his post-high school life. Which of the following is a way he can pay for it? Scholarships, Credit card debt, Payday loans, Title pawn lenders

Back

Scholarships

Answer explanation

SSEPF1

Front

What form should Abigail fill out for financial aid applications?

Back

FAFSA form

Answer explanation

SSEPF1

Front

Which definition best describes the FAFSA?

Back

The application you complete in order to determine eligibility for federal student aid.

Answer explanation

SSEPF1

Front

What is a mortgage?

Back

A loan specifically for purchasing property.

Answer explanation

SSEPF1

Front

Which statement accurately describes the difference between a student loan and a scholarship or grant?

Back

Student loans need to be repaid, while scholarships and grants are both "free money" that don't need to be repaid.

Answer explanation

SSEPF1

Front

What is a dividend?

Back

A portion of a company's earnings distributed to shareholders.

Answer explanation

SSEPF1

Front

Aria is considering taking out a loan to buy a car. Why is it important for her to understand interest rates?

Back

Interest rates determine how much extra money you need to pay back.

Answer explanation

SSEPF1

Front

What is generational wealth?

Back

Wealth accumulated and passed down from one generation to the next

Answer explanation

SSEPF1