Wise Practice Pre-Test
Authored by Ian Lyons
Social Studies
9th Grade - Professional Development
Used 366+ times
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About
This quiz comprehensively covers fundamental personal finance and economics concepts appropriate for high school students in grades 9-12. The questions assess essential financial literacy skills including understanding credit and debt management, investment principles, banking services, insurance types, and basic economic concepts like inflation. Students need to demonstrate knowledge of financial institutions such as the Federal Reserve, SEC, and FDIC, while also understanding practical applications like calculating interest, interpreting credit reports, and making informed decisions about savings versus investment options. The complexity of topics such as mutual funds, treasury bills, compound interest, and the Rule of 72 requires analytical thinking skills that develop during the high school years. Students must also understand risk assessment concepts, from low-risk savings accounts to higher-risk stock investments, and comprehend the regulatory framework that governs financial markets and consumer protection. Created by Ian Lyons, a Social Studies teacher in the United States who teaches grades 9-14. This pre-test serves as an excellent diagnostic tool to assess students' baseline knowledge before beginning a comprehensive personal finance or economics unit. Teachers can use this assessment to identify knowledge gaps and tailor instruction accordingly, making it ideal for formative assessment at the unit's beginning or as a review tool before summative evaluations. The quiz effectively supports classroom instruction by covering real-world scenarios that students will encounter as emerging adults, from managing credit cards to understanding investment options for long-term goals like college savings. This assessment aligns with social studies standards focusing on financial literacy and economic reasoning, particularly those addressing personal financial decision-making, understanding of financial institutions, and basic economic principles that govern consumer behavior and market operations.
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32 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Outstanding amount of money that is owed on a credit card bill
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Shows every credit card ever taken out; a report on a persons creditworthiness.
Sales Report
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A rise in the general level of prices
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A distribution of a portion of a company's earnings, decided by the board of directors, to a class of its shareholders.
interest
dividend
profit
opportunity cost
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Annual percentage rate (APR) is...
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The best reason for depositing money in a bank or credit union savings account instead of keeping your money "under the mattress" is that money deposited in savings accounts are ____________________. insured.
SEC
SIPC
FDIC
NCAA
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a person brings an item to a pawnshop to obtain cash, the transaction is considered
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