PF Semester Test Review

Being able to work as a team, communicate well and organize your tasks are examples of ______________________ skills.

• 21st Century Skills

• Soft skills

• Hard skills

• Communicable skills

Changing a tire, creating a blueprint and creating a lesson plan are examples of what type of skills?

• 21st Century Skills

• Soft skills

• Hard skills

• Communicable skills

You just found out your bank has gone broke and failed.  You are worried about the $125,000 you have in your savings account.  Then you remembered something you learned in personal finance that calms you down.   Is it….

• 1. The social security administration has funds to cover your savings, but you have to wait until retirement to get it.

• 1. All you have to do is fill out an insurance form with the IRA and you will get the money back in 4-6 weeks.

• 1. Congress set up the FDIC to insure each bank customer up to $250,000 in case a bank fails.

• 1. The bank has money hidden in a warehouse to pay you back your $125,000.

My aunt died of cancer last year so I chose to have $25 per paycheck deducted from each paycheck to support the American Cancer Society.  This choice would be based on my

• career choice

• needs

• values

• disposible income

What is the (general) relationship between the amount of education after high school and total lifetime  earnings?

• As education goes up, lifetime earnings go down

• There is no relationship

• It depends on the career

• As education goes up, lifetime earning also rise.

What is inflation? 

• Gradual rise in the price of goods and services

• When stocks are at their peak selling price

• When companies charge prices that are criminal

• An increase in the buying power of the dollar

Last year a Luke Skywalker Funko Pop sold for $210.00.   Right now you can buy one for $50.00.  Explain why this might happen using the laws of supply and demand.

• You don't

• The demand is higher than the supply

• The supply and demand are equal

• The supply is higher than the demand

Using the concept of inflation, why might I have to earn more year after year to keep up with inflation?

• You have to make more to be able to afford the same items

• You don't. Inflation has no impact on earnings.

• The government devalues the dollar

• Your wages may go down and not buy as much.

Do you have to pay back a student loan? 

• Yes

• No

Do you have to pay back a grant?

• Yes

• No