Personal Finance Test 1 Review (SSEPF1)

After spending months and a significant amount of money on a project that isn't yielding results, James refuses to abandon it because it would feel like a wasted investment. This cognitive bias is called the .

• Sunk Cost Fallacy
• Confirmation Bias

• Anchoring

• Hindsight Bias

Aiden has been offered a new job in a different city, but he is hesitant to accept it because he prefers to stay in his current position. What is this tendency to favor decisions that don’t require change known as?

• Status quo bias

• Bandwagon effect

• Anchor bias

• Sunk-cost fallacy

Aria noticed that all her friends started wearing a particular brand of sneakers, so she decided to buy them too because she thought it was the norm. Which bias is this an example of?

• Anchor bias

• Bandwagon effect

• Choice-supportive bias

• Status quo bias

Ava is shopping for a new car and the first price she sees is $30,000. When she sees the same car at a different dealership the next day marked at $35,000 she is shocked at how expensive it is! What cognitive bias is Ava experiencing?

• Sunk-cost fallacy

• Anchor bias

• Choice-supportive bias

• Status quo bias

Rohan has decided to buy a new smartphone and has already chosen a brand. Despite hearing about other brands with better features, he ignores them to protect his decision. Which bias is Rohan exhibiting?

• Bandwagon effect

• Status quo bias

• Choice-supportive bias

• Anchor bias

credits are required for graduation, starting with the Class of 2025.

• 20
• 24
• 30
• 36

Students and parents need to complete a FAFSA application for any of the following, EXCEPT _______.

• Financial aid

• student loans

• D1/D2 athletes

• technical internships

Unexcused absences can result in _______.

• Loss of senior privilege

• Loss of exam exemption

• Unable to go to prom

• All of the above

Typically, when should you first file the FAFSA?

• After you finish freshman year of high school

• October or November of your last year of high school

• After you have been accepted to a college or university

• Once you are ready to start repaying your student loans

What is GeorgiaMatch?

• It will match students with scholarships related to your future career.

• It is a direct admission program using students’ HOPE GPAs.

• It reveals a student's career interests and the colleges that are a good fit for them.

• It highlights jobs that have labor shortages in Georgia.