Final Exam (College/Careers)

Which best describes a loan?

• An extra charge on purchases at the grocery store

• How the government decides who can enter the country

• A financial institution gives a borrower money and expects to be paid back in full

• using machines to build and design products

Debt can best be described as?

• Your salary after governmental taxes

• fun activities outside of work

• people working toward a common goal

• A situation where money is owed to someone or some financial institution in which you borrowed money

Credit is defined as?

• An extra 10 points on a school assignment for doing extra work

• The money that you borrow and promise to pay back

• a summary of your credit history

• a unit of money used by a country

Bankruptcy is known as?

• a legal process in which your declare yourself unable to pay your debts in a court of law

• The teller at your local bank has the power to cancel your account

• When the courts rule you legally dead after missing for at least 10 years

• a college degree program that assigns you a banking job upon graduation

Taxes can be described as?

• money the government or states will charge citizens. This will pay for things like Teachers, roads, schools, post office ect....

• people who learn by actually doing things

• an employee who works from home

• positive qualities or skills someone has

What is an Interest Rate?

• natural resources that are available in limited quantities

• a fee banks charge monthly or annually when they loan out money

• standard form companies use to hire employees

• the money left over once all costs are taken out

Credit Score can be described as?

• a table used to enter time in and time out every workday

• a card issued by a lender that allows a borrower to spend the amount of money on the card

• a rating listed on someone's credit report based on someone's lending history. Lets lenders know your if you pay back your loans or not

• the number of hours someone works per week or month

What is an Income Tax?

• a tax the government pays someone for keeping a bank account

• a set of taxes paid upon purchase of a car or truck

• a percentage one must pay to the state or federal government that comes out of their salary or hourly wages

• a tax on goods bought at the grocery store

Which best describes a Consumption Tax?

• Taxes paid to the government based on how much money someone makes

• also known as a funeral tax one pays upon death

• a tax paid to local or state governments based on how many miles someone drives a month

• Taxes that are paid upon purchase of goods such as gas or food

If one decides to join the Military after High School, which entrance exam is required for each potential candidate to take?

• SAT

• ASVAB

• ACT

• DISTRICT COMMON ASSESSMENT