EOG Review RI7.3
Passage
•
English
•
7th Grade
•
Medium
Maria Cafe
Used 10+ times
FREE Resource
11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one recommended way to make your money work for you according to the passage?
Pay yourself first
Spend on luxury items
Avoid all investments
Use credit cards frequently
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it advised to avoid credit card debt?
Credit cards have high interest rates
Credit cards are free money
Credit cards increase your savings
Credit cards offer high returns
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in creating a financial plan as mentioned in the passage?
Figure out your current financial status
Set financial goals
Start saving immediately
Invest in stocks
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you do after listing your financial goals according to the passage?
Determine the cost and savings needed
Buy a car
Get a new credit card
Spend on non-essential items
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an investment as defined in the passage?
An asset purchased with the hope of future income
A way to spend money quickly
A method to increase credit card debt
A type of bank account
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
According to “Spending Smart,” what effect do high interest rates have on a person’s ability to pay off credit card debt?
They increase the amount of money owed.
They allow a greater return on investments.
They increase the opportunity to easily buy expensive items.
They allow for additional purchases, even when money is unavailable.
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
According to “Dreaming Big,” what is the effect of creating a financial plan?
Debt is paid off more quickly.
Goals are set to make better decisions.
Opportunities increase for obtaining more money.
Decisions can be made about what to pay off first.
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