Bus. Alg 2 Review for the Sem 1 Final Jan 19, 2024

According to a rule of thumb, rent shouldn't take up more than ___ % of your take-home pay.

• 7-12%

• 10-15%

• 15-20%

• 25-30%

Tags

CCSS.6.RP.A.3C

Which of the following is an example of buying something you NEED?

• "I want to replace something that is no longer working."

• "I want to impress someone/ change how they feel about me."

• "I'm feeling down, and I need to boost my spirits."

• "I don't want to miss out on these deals during the sale!"

Tags

CCSS.RL.11-12.9

CCSS.RL.6.3

CCSS.RL.7.3

CCSS.RL.8.3

CCSS.RL.9-10.3

The amount of money you make is called:

• Taxes

• Net Pay

• Gross Pay

• Available Pat

As a rule of thumb, every family should save at least _____ months’ income in case of emergency.

• Two

• Three

• Four

• Six

Tags

CCSS.6.RP.A.3B

What is a benefit of going to college and having a college degree?

• Lower lifetime earnings

• Lower interest rates on future loans

• Expanded professional and social netowrk

• Guaranteed starting salary of $50,000 after graduation

Tags

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.8.1

CCSS.RL.9-10.1

All of the following are costs of going to college EXCEPT...

• Tuition and fees

• Room and board

• Textbooks and school supplies

• Scholarships and grants

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.2

CCSS.RL.8.1

CCSS.RL.9-10.2

Why should you file the FAFSA as early as possible?

• It can help your chances of being accepted into schools

• Aid is given out on a first-come, first-serve basis

• You're guaranteed to get more merit-based scholarships

• You'll get a lower interest rate on federal student loans

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

How do scholarships and grants differ?

• Scholarships are need-based; grants are merit-based

• Grants are private forms of aid; scholarships are federal

• Grants are need-based; scholarships are merit-based

• They're not different; they are one and the same

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Which is TRUE about the FAFSA?

• You only need to file the FAFSA 1x in your college career

• Your parents must earn below a set amount for you to apply

• You need to file it at the start of every quarter/semester

• There is no cost to file the FAFSA

What must you do if you accept a Federal student loan?

• Agree to an official credit check by the government

• Pay off all credit card debt

• Pay a refundable deposit to secure your loan

• Sign a Master Promissory Note