5A Vocabulary

5A Vocabulary

12th Grade

30 Qs

quiz-placeholder

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5A Vocabulary

5A Vocabulary

Assessment

Quiz

Social Studies

12th Grade

Easy

Created by

Raymond Morgan

Used 1+ times

FREE Resource

30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The PACED Decision-Making Model is used to:

Predict future stock market trends

Evaluate choices based on criteria and alternatives

Calculate interest rates on loans

Determine tax deductions

Answer explanation

The PACED Decision-Making Model helps evaluate choices by considering various criteria and alternatives, making it a structured approach to decision-making, unlike the other options listed.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Generational wealth refers to:

Income earned from a full-time job

Money, assets, and financial security passed down through family generations

A government program that provides financial aid

Temporary financial assistance for low-income families

Answer explanation

Generational wealth specifically refers to money, assets, and financial security that are passed down through family generations, distinguishing it from income or temporary financial aid.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assets are:

Items that have financial value, like cash, property, and investments

Taxes paid on property after someone’s death

Expenses that reduce a person’s net worth

Loans provided by the government

Answer explanation

Assets are defined as items with financial value, such as cash, property, and investments. This distinguishes them from taxes, expenses, or loans, which do not represent ownership of valuable items.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

FAFSA is:

A form used to apply for federal financial aid for college

A savings plan for retirement

A tax form used for independent contractors

A type of government scholarship

Answer explanation

FAFSA stands for Free Application for Federal Student Aid. It is specifically designed for students to apply for federal financial aid for college, making the first answer choice correct.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between subsidized and unsubsidized student loans is:

Subsidized loans do not require repayment

The government pays the interest on subsidized loans while the student is in school

Unsubsidized loans have lower interest rates than subsidized loans

Subsidized loans are only available to graduate students

Answer explanation

The correct choice is that the government pays the interest on subsidized loans while the student is in school, making them more favorable compared to unsubsidized loans, which accrue interest immediately.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A grant for college or technical school is:

A loan that must be repaid

Free money provided based on financial need or academic merit

A type of scholarship provided by employers

A tax deduction for student expenses

Answer explanation

A grant is not a loan; it does not need to be repaid. Instead, it is free money awarded based on financial need or academic merit, making it a valuable resource for students pursuing higher education.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Scholarships, such as the HOPE Scholarship, are:

Financial aid based on merit or need that does not need to be repaid

Government loans with low interest rates

Employer-sponsored tuition reimbursement programs

Taxable income for students

Answer explanation

Scholarships, like the HOPE Scholarship, provide financial aid based on merit or need and do not require repayment, making them distinct from loans or employer reimbursement programs.

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