Everfi: Future Smarts: Ways to Pay
Authored by Marge Melfi
Specialty
8th Grade
Used 1K+ times
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About
This quiz covers personal finance fundamentals, specifically focusing on income types, payment methods, and credit management at the middle school level, appropriate for grade 8 students. The questions assess students' understanding of essential financial literacy concepts including the distinction between wages and salaries, various payment methods (cash, debit cards, credit cards), credit scores and their determining factors, and payroll deductions. Students need to demonstrate comprehension of key vocabulary terms, understand cause-and-effect relationships in financial decisions, and apply critical thinking skills to evaluate the best financial strategies. The content requires students to analyze scenarios involving real-world financial situations, such as choosing appropriate payment methods for specific circumstances and understanding the long-term consequences of credit card payment strategies. Created by Marge Melfi, a Specialty teacher in US who teaches grade 8. This quiz serves as an excellent tool for introducing and reinforcing core personal finance concepts that students will use throughout their lives. Teachers can deploy this assessment as a formative evaluation to gauge student understanding of financial literacy basics, use it as homework to reinforce classroom instruction, or implement it as a warm-up activity to activate prior knowledge before diving deeper into personal finance topics. The quiz format allows for immediate feedback and identifies areas where students may need additional support or clarification. This assessment aligns with Common Core Mathematics standards for grade 8, particularly those addressing problem-solving and mathematical practices, as well as state financial literacy standards that emphasize understanding personal finance concepts and making informed financial decisions.
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A ______ is usually paid on a biweekly or monthly basis for professional employment.
salary
stipend
wage
benefit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is the best reason to use cash for purchases?
getting more from the ATM is easy to do
keeping track of how much you have spent is simple
splitting bills with friends is easier
losing it won't be a big deal
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What factor has the biggest impact on a credit score?
having a variety of credit
the amount of money you owe on your credit cards
your history of making payments on time
the number of years that you have used credit responsibly
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the best strategy to avoid paying interest on your credit cards?
pay the minimum balance each month
pay the full balance each month
have credit cards from two different banks
make payments online
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a source of income?
your annual salary for doing your job
your monthly student loan payment
the stipend you receive for doing an internship
the wages you receive for a work shift
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements is TRUE?
Applying for several lines of credit in a short period of time can help boost a person's credit score.
Paying off a credit card balance in full can have a negative impact on someone's credit score.
The longer you use credit responsibly, the higher your credit score.
Low risk borrowers tend to have low credit scores.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements is TRUE about payday loans.
they are harder to pay back because of low fees and high interest rates
they are harder to pay back because of high fees and high interests rates
they are easier to pay back because of lower fees and higher interest rates
they are easier to pay back because of lower fees and lower interest rates
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