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PCC chapter 7 test

Authored by Shonda Hogeston

Business

9th - 12th Grade

Used 8+ times

PCC chapter 7 test
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16 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of a budget in managing finances?

To increase expenses

To regulate your spending and savings

To eliminate the need for savings

To calculate taxes

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of FDIC?

To provide loans to students

To insure bank deposits

To collect taxes

To regulate stock markets

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered a need?

A new phone

A skateboard

Food and water

A car

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between a debit card and a credit card?

A debit card earns interest

There is no difference

A debit card directly withdraws funds from your bank account

A credit card allows direct deposit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the benefit of compound interest?

It reduces the principal amount

It increases tax liabilities

It helps save money more quickly

It simplifies financial statements

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does insurance serve an individual?

It increases financial risk

It helps in stock trading

It protects against loss

It guarantees income

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of card allows for immediate deductions from your checking account?

Debit card

Credit card

Smart card

Bank card

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