
AFA Unit 2 Test
Quiz
•
Mathematics
•
12th Grade
•
Medium
+32
Standards-aligned
Penelope Wright-Hill
Used 9+ times
FREE Resource
30 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
All of the following are good ways to prepare for paying for college EXCEPT...
Contributing to a 529 plan
Building a savings
Pursuing grants and scholarships
Taking out student loans
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
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Your friend has chosen what college they’re going to attend and says they want to lower the total amount of money they’ll have to budget for while in school. Which of the following should you tell them to focus on?
Indirect costs
Tuition
Direct costs
Room and board
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which formula is used to calculate the net price of a college?
Sticker price + grants and scholarships = net price
Sticker price + value = net price
Sticker price – grants and scholarships = net price
Sticker price - value = net price
Tags
CCSS.HSA.CED.A.4
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
All of the following statements about the FAFSA are true EXCEPT...
It is used to determine how much and what kind of financial aid you’re eligible for.
It’s best to submit your FAFSA application later in the filing period so you know what types of aid are available.
Your parents can help you submit your application by creating their own FSA ID and providing necessary information.
To receive financial aid, you’ll need to submit the FAFSA for each year you’ll be attending college.
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
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the relationship between your Expected Family Contribution (EFC) and your likelihood of qualifying for financial aid?
A higher EFC means you’ll likely qualify for MORE financial aid.
A higher EFC means you’ll likely qualify for LESS financial aid.
Your EFC is equal to the amount of financial aid you’re eligible to receive.
EFC has no effect on how much financial aid you’ll qualify for.
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Your college’s cost of attendance is $12,000, you will be receiving $5,000 in scholarships and grants, and you plan on taking out $6,000 in student loans. What is your net price?
$1,000
$7,000
$11,000
$23,000
Tags
CCSS.7.EE.B.3
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Your friend tells you they’ve submitted their FAFSA and they’re ready to start accepting financial aid. What type of aid should they accept first?
Federal student loans
Private student loans
Work study
Grants and scholarships
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