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Final Exam Personal Finance

Authored by JayDren Compton

Financial Education

10th Grade

Final Exam Personal Finance
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78 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common feature of a 15-year fixed rate mortgage?

Longer repayment period

Lower interest rates

Higher monthly payments

No down payment required

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How long does account information stay on your credit report after the last activity?

Ten years

Five years

Seven years

Indefinitely

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of bankruptcy stays on your credit report the longest?

Chapter 7 bankruptcy

Chapter 11 bankruptcy

Chapter 13 bankruptcy

Personal bankruptcy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the most cost-effective way to buy a home?

30-year fixed rate mortgage

15-year fixed rate mortgage with 10% down

100% down payment

Renting long term

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these should not be a main factor when choosing a career?

Job satisfaction

Salary potential

Company reputation

Personal interests

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is important for saving money?

Variable expenses

Your income

Discipline

Mutual funds

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which situation would not need insurance if you have an emergency fund of $500 or more?

Minor health issues

Car accident

Home damage

Job loss

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