Fin. Math Unit 1 Post Test review

Mason found out that his recent credit card application was denied. When Mason reviewed his credit report, he found two overdue accounts that he hadn’t opened himself. As a victim of identity theft, which consequence could Mason face?

• community service

• jail

• job loss

• lowered credit score

• repossession of his car

Tyler is working with her financial advisor to create some personal financial goals for the next year. One of her goals is to reduce the amount of debt she has. Which statement could make his goal specific and timely?

• She should focus on just her student loan debt and give herself a deadline of five years.

• She should ask a friend to be her accountability partner and remind her of her goal every two weeks.

• She should review her current finances to determine how much she can allocate to her goal.

• She should pay only the minimum payment on her credit card statement each month.

Yvette earns a $45,000 salary plus a 12% commission on any sales over $10,000. Last year Yvette made $30,000 in sales. How much did Yvette earn in salary plus commission?

• $46,000

• $46,200

• $46,500

• $47,400

Tags

CCSS.6.RP.A.3C

Which two expenses are considered variable, nondiscretionary expenses?

• car loan payment & vacation cost

• groceries & fuel cost

• insurance premium & gym membership

Which statement describes a measurable financial goal?

• Open a 401(k) account to save for retirement.

• Save for college using a 529 savings plan.

• Use Form 1040 to file income taxes.

• Transfer $50 per month into a savings account.

Which action can you take to determine whether your identity has been stolen?

• Review your credit report to make sure there are no unauthorized open accounts.

• Call the credit card company’s customer service department to update your contact information.

• Keep all financial records, Social Security cards, and ID cards in a safe place.

• Change your online bank account password so it can’t be easily guessed.

Which scenario would make someone vulnerable to identity theft?

• including a Social Security number on an income tax form

• missing monthly payments on a car loan for three months

• using a public library computer to access confidential bank information

• opening a credit card account to purchase a household appliance

Lauren works 30 hours each week. At the end of 6 months (26 weeks), she has made $31,200. How much does Lauren make per hour?

• $40

• $30

• $23

• $17

Tags

CCSS.6.EE.B.7