Unit 2 Quiz 1

When comparing the cost of attending a four-year college versus a technical school, what key factor should you consider?

• The social life on campus

• The potential return on investment

• The climate of the region

• The popularity of the school’s sports teams

Tags

GA.SSEPF1.a.

Which of the following is a form of financial aid that does not need to be repaid?

• Scholarship

• Loan

• Credit card

• Grants

Tags

GA.SSPF.2

Which document is required to complete the FAFSA?

• High school diploma

• Social Security Number

• Driver's license

• Birth certificate

Tags

GA.SSEPF1.a.

Which of the following is a key factor in deciding whether to buy or rent a home?

• The availability of rental properties

• The color of the house

• The number of bedrooms

• The interest rate on a mortgage

Tags

GA.SSEPF1.a.

Which of the following is an example of an asset that can contribute to generational wealth?

• Expensive vacation

• High-end electronics

• Real estate

• New car

Tags

GA.SSEPF1.a.

Which financial decision is most likely to negatively impact the ability to create generational wealth?

• Purchasing life insurance

• Accumulating high-interest debt

• Investing in the stock market

• Opening a savings account

Tags

GA.SSEPF1.a.

Which of the following is an example of income earned as an independent contractor? (DOK 1)

• Hourly wage

• Salary

• Form 1099 income

• Tips

Tags

GA.SSEPF1.a.

What is the main difference between a salary and hourly wage?

• Salary is paid weekly, hourly wage is paid monthly.

• Salary is fixed regardless of hours worked, while hourly wage is based on hours worked.

• Salary includes tips, hourly wage does not.

• Salary is tax-free, hourly wage is not.

Tags

GA.SSEPF1.a.

Which type of income might be most beneficial for someone who prefers flexibility in their work schedule?

• Salary

• Hourly wage

• Independent contractor services

• Dividends

Tags

GA.SSEPF1.a.

Which of the following is typically listed as a deduction on a paystub?

• Gross pay

• Net pay

• Federal income tax

• Bonus pay

Tags

GA.SSEPF1.a.