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Your Life, Your Money Video Assessment

Total questions: 35

Worksheet time: 32mins

Name
Class
Date
1.
When you work for yourself, money is already withheld for taxes.
a)
False
b)
True
2.
How much should you budget for paying debt payments?
a)
5%
b)
10%
c)
20%
3.
How much should you budget for rent?
a)
10%
b)
25%
c)
30%
4.
How much should you budget for savings?
a)
10%
b)
15%
c)
30%
5.
Average tuition for a 4 year private college is�
a)
$2,500
b)
$25,000
c)
$35,000
6.
What is the one insurance you need most of all?
a)
Health
b)
Comprehensive
c)
Life
7.
How many credit bureaus offer free credit scores?
a)
3
b)
5
c)
1
8.
Subsidized student loan means that the government will pay the interest while you go to school
a)
TRUE
b)
FALSE
9.
__________ of college students have a credit cards
a)
10%
b)
33%
c)
50%
d)
66%
10.
The average graduating student's credit card is
a)
$260
b)
$2,623
c)
$4,250
d)
$26,500
11.
When setting your saving goal you should try to save 6 months of living expenses.
a)
TRUE
b)
FALSE
12.
Difference between a debit & credit is: a debit is borrowed cash and credit is your own money.
a)
TRUE
b)
FALSE
13.
When you shop with a credit card you will spend and average of ____ of ___ more cash.
a)
50% to 100%
b)
20% to 50%
c)
30% to 100%
14.
Why should you start for retirement in your 20's?
a)
You don't really have to start until you are 40
b)
Compound interest makes savings grow the earlier you start�
c)
Interest are at their lowest then they are when your older
15.
What is a CD?
a)
Cash Delivery
b)
Certificate of deposit
c)
Cash Deposit
d)
Credit Deposit
16.
When you are your own boss, you pay your taxes
a)
At the end of the year
b)
Twice a year
c)
As you earn income
d)
Only when income is more than $15,000
17.

When looking for a credit card make sure it has a high interest rate.

a)

TRUE

b)

FALSE

18.

Student loans are due __________.

a)

2 years after you graduate.

b)

1 year after you graduate.

c)

6 months after you graduate

d)

6 months after you find a job.

19.
How often should you check your credit score?
a)
Every Month
b)
Every 6 months
c)
Every year
d)
Twice a year
20.
Equifax, Experian and TransUnion are all
a)
Credit Card Companies
b)
Credit Bureaus
c)
Credit Recovery Companies
21.
How many companies track /report your credit score?
a)
3
b)
2
c)
1
22.
When looking for a credit card, you should look for the lowest interest rate.
a)
True
b)
False
23.

With 401K plan your company matches every dollar you invest

a)

False

b)

True

24.
Research shows that, when you use a credit card when you are shopping, you will spend an average of ________________ to ________________ more than if you used cash
a)
10%-50%
b)
20%-50%
c)
30%-100%
d)
50%-100%
25.

Your credit score determines your ___________ (choice 2)

a)

wealth

b)

creditworthiness

c)

interest rate

d)

debt

26.
Unsubsidized loans interest is paid by the government.
a)
True
b)
False
27.
IRA stands for 
a)
Individual Retirement Assoicaion
b)
Individual Residual Account
c)
Individual Retirement Account
28.

The average monthly loan payment after graduation

a)

$343

b)

$252

c)

$623

29.

Average total interest paid on student loans is

a)

$2,623

b)

$8,343

c)

$2,520

d)

$1,520

30.

A IRA can earn ____________ interest.

a)

low

b)

high

c)

tax-free

d)

no

31.
How often should you check your credit score?
a)
Once a year
b)
Five times a year
c)
Once every 2 years
32.
What percentage of college students have a credit card?
a)
50%
b)
63%
c)
66%
d)
75%
33.
With 401K plan you company matches every dollar you invest
a)
False
b)
True
34.

Your credit score determines your

a)

wealth

b)

credit worthiness

c)

interest rate

d)

debt

35.

The next district " Remote Learning Day " Friday, December 11, 2020. (check all 3 that apply)

a)

Yes

b)

True

c)

Yep

d)

False

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