Unit 2: Practical Life Skills Review

Tick the box of the bills that belong for Fixed Expenses.

• Rent
• Gas & Electricity
• Insurance
• Groceries
• Mortgage

Tick the box bills that belong for Variable Expenses.

• Rent
• Gas & Electricity
• Insurance
• Groceries
• Mortgage

What is price matching?

• Paying more money for an item.
• When a store sells something at the same price.
• Buying used products.
• Using a coupon.

Travis wants to buy a new phone. He has $500 to spend. What would he do to get a good deal?

• Look for phone ads that has sale prices.
• Wait until Black Friday sale to get a deal on phones.
• All of the above.

This is one way to pay that is broken into smaller amounts.

• Installment
• Loan
• Debit
• principal

You pay interest when you use cash.

• True
• False

What does O.A.C means?

• On Automated Credit
• Online Access Card
• Only Cash Access
• On Approved Credit

What could happen if you don't pay on time in a payment plan?

• You can get item for free.
• You pay high interest on your bill.
• Nothing happens.
• You get an extension for your payment.

Robin wants to save for his college tuition. He is in Grade 12. He will be going to college in a year. He wants to save half of the fees. What will he need in order to open an account?

• Identification
• A new shirt.
• $1000
• His yearbook.

What is the total amount of money you owe?

• credit score
• debt
• credit limit
• cash