Money Matters- PreTest

What is a checking account?

• What the bank uses to keep tabs on you.

• Bank deposits designed for every day use.

• A benefit you obtain by joining a particular bank.

• An account that allows you to earn interest over time.

What are some benefits of having a checking account?

• It allows you to become rich.

• It can automatically pay your mortgage just by opening an account.

• It allows you to earn credit.

• It makes you a better person.

What is a savings account?

• A business investment.

• Bank deposits designed for every day use.

• A college course.

• An account that allows you to earn interest over time.

What is budgeting?

• Spending all of your money.

• Creating a plan to spend your income.

• Saving money.

• All of them above.

What are your expenses?

• Games, Sports, and Clubs.

• Restaurants and Movies.

• Bills, Gas, Groceries, and Utilities.

• All of the above.

What is income?

• Income does not affect budgeting.

• Income is how much you spend.

• Income is how much you earn.

• Income is how much money you save.

What is consumer awareness?

• The understanding by an individual of their rights as a consumer concerning available products and services being marketed and sold.

• Being aware of the things you don't buy.

• Awarding consumers several options concerning a product.

• The misunderstanding by an individual of their rights as a consumer concerning available products and services being marketed and sold.

What should you consider before buying something large or valuable?

• Commitment.

• If you really need it.

• If you can't buy it in cash, don't buy it at all.

• How much fun it will be.

What is buyers remorse?

• Feeling unchanged after making a large purchase.

• Feeling regret or concern after making a large purchase.

• Concentrating on the benefits of your large purchase.

• Feeling motivated to make another large purchase.

What does it mean to buy something "on credit"?

• A promise to pay for an item later

• A promise to fill out a credit card application

• A promise to pay for an item upfront

• A promise that you'll buy an item later.