Chad Foster Financial Literacy for Teens Post Test

If you think someone is trying to scan you on the Internet, you should contact the

• FDA

• DEA

• IOC

• FTC

Approximately how long will it take to pay off $1,000 in credit card debt if your interest rate is 18% and you only make the minimum payment each month?

• 20 years

• 30 years

• 8 years

• 10 years

Developing a financial lifestyle that fits the amount of money you will earn in your career is called a

• money management system

• lifestyle-driven journey

• journey-driven lifestyle

• none of these

What percentage of bankruptcies are filed as a result of medical bills?

• 9%

• 40%

• 35%

• 20%

FICA is deducted from your paycheck before you get it. FICA stands for

• Federal Institute of Capital Appreciation

• First Interest Capitalization Association

• Federal Insurance Contribution Act

• Federal Interest Collection Act

An average career will last approximately how many hours of your work-life of 40 years?

• 8,600 hours

• 32,000 hours

• 86,000 hours

• 18,000 hours

Money Management can also be called?

• withholdings

• Fuel, Insurance, Repairs, Maintenance

• Fuel, Insurance, Repairs, Maintenance

• budgeting

What are the different types of insurance?

• Health, Life, Auto, Renters, Home Owners

• Fuel, Insurance, Repairs, Maintenance

• depreciation

• expensive

What does FIRM stand for?

• Fuel, Insurance, Repairs, Maintenance

• income, social security, medicare

• Few, Insurance, Rates, Man

• Faster In Running Match

When you purchase a brand-new car and drive it off the lot, the value of your car decreases 20%. This is called _____________.

• expensive

• depreciation

• Uncle Sam

• appreciation