Consumer Education Pre test

It is cheaper to cash a check at the bank, than to use a paycheck cashing store

• True

• False

The typical fee for a "bounced" check is between $1 and $5. A bounced check is when you do not have enough money in the account.

• True

• False

With a credit card, what does APR stand for or what does it mean?

When you rent an apartment, what is a security deposit?

• Money given as a loan

• Money paid when you begin your rental and it can be returned to you if you do not damage the apartment and pay rent on time.

• Money given by the rental owner to secure the property.

• Money your parents will help to pay your rent.

Which of these are fixed expenses? Check all that apply.

• rent

• food

• car payment

• electric bill

What affects the amount of rent charged for an apartment?

• Size and number of bathrooms

• Location

• If it has a washer and dryer

• All of the above

__________________is to take money out of the bank.

IF someone gave you $50 right now, how likely is it that you would save at least 25% of it ($12.50)?

• highly likely

• a little bit likely

• not very likely

When you invest money, if you invest in a high risk company or stock, there COULD be a higher return, but you could also lose more money.

• True

• False

How important do you think it is to learn about managing money?

• not very important

• a little important

• very important