Keycode - 8th Period 2nd 9 Weeks Test

Which of the following would be considered a want rather than a need for most people?

• Warm clothes in the winter

• A place to live

• A smartphone

• Nutritious food

Your friend's parents are worried about going over their budget for the month. Which expense would you suggest is NOT a need?

• Rent payment

• Car insurance

• Cable service

• Groceries

Which one of these is NOT a successful budgeting strategy?

• Keep some extra money in your budget for emergencies.

• Pay with a credit card if you have a hard time sticking to a budget.

• Think about which items are your most important needs.

• Revisit your budget regularly and make adjustments.

Which of the following is the BEST reason to use cash for making purchases?

• Getting more cash from an ATM machine is easy to do.

• Keeping track of how much you have spent is simple.

• Splitting bills with friends is easier.

• Knowing what you have spent your money on is simple.

What factor has the biggest impact on a credit score?

• Having a variety of types of credit.

• The amount of money you owe on your credit cards.

• Your history of making payments on time.

• The number of years that you have used credit responsibly.

What is the best strategy to avoid paying interest on your credit cards?

• Pay the minimum balance each month.

• Pay the full balance each month.

• Have credit cards from two different banks.

• Make payments online.

Amy's new summer job at the pool will pay her $9 per hour. Which term describes this type of hourly income?

• Salary

• Take-home pay

• Wage

• All of the above

Ashley wants to make a purchase using the money in her checking account. What method of payment should she use to access these funds immediately and directly?

• Credit card

• Debit card

• Direct deposit

• Prepaid card

The most direct way for Jonathan to gain on-the-job experience and earn money while attending school is to apply for:

• Federal financial aid.

• Scholarships.

• A work-study program.

• A private loan.

Shannon has been a member of her school's newspaper club for 2 years and attends writing workshops in her free time. Which career choice should she explore?

• Web Content Developer

• Museum Curator

• Graphic Designer

• Business manager