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Final Exam - Summer Personal Finance

Authored by Farrah Tuttle

Business

9th - 12th Grade

Used 1+ times

Final Exam - Summer Personal Finance
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40 questions

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1.

OPEN ENDED QUESTION

30 sec • Ungraded

First Name:

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2.

OPEN ENDED QUESTION

30 sec • Ungraded

Last Name:

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3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. Magda is going to finance her car purchase using an auto loan. Which statement below is accurate?

Her principal is the cost of the car, minus any down payment she makes
Her interest rate is the total cost she’ll pay after making all of her principal and interest payments
Choosing a shorter term means it will take her longer to repay the loan
It’s likely that her monthly payment will be between 4-5% of the cost of the car

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

2. Maria is new to budgeting. Maria’s friend advises them that they should “pay themselves first”. What does that mean?

Maria should keep all their savings in a checking account
Maria should automate monthly transfers to their savings account
Maria should take more risk in their investments to get higher returns
Maria should pay only the minimum due on their credit card bills

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

3. Why is sending a personalized thank you after a job interview important?

It shows that you want the job even if you don’t really like the company
You can apologize for any mistakes you made in the interview
It gives you the opportunity to leave a good impression by expanding on an answer you gave or a topic you discussed
It allows you to boast about your accomplishments one last time

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

4. What do you need to subtract from a college’s cost of attendance in order to find the net price?

Student Aid Index
Application fees
Personal expenses
Your grants and scholarships

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

5. All of the following are characteristics of a secured credit card EXCEPT…

Your credit limit is dependent on the amount of your security deposit
They lower the risk of banks when issuing credit to users with no credit history
They help you build a credit history and improve your credit score
They don’t have a spending limit, so you have to be very mindful of how much you buy with them

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