WorksheetsPersonal Finance Final Exam Review
Total questions: 37
Worksheet time: 20mins
Name
Class
Date
1.
What does the S in the SMART Goals acronym represent?
a)
Smart
b)
Safe
c)
Specific
d)
Start
2.
What does the R in the SMART Goals acronym represent?
a)
Realistic
b)
Relationship
c)
Real
d)
Rate
3.
A student that goes from one class to another when the bell rings is an example of what type of decision?
a)
Routine decision
b)
Major decision
c)
Common decision
d)
Big decision
4.
According to the 70-20-10 Rule, 70% of your income should be...
a)
Saved
b)
Spent
c)
Invested
d)
Taxed
5.
A goal that may take more than five years to achieve is considered a...
a)
Short-term goal
b)
Intermediate goal
c)
Long-term goal
6.
An item that you must have for survival is considered a...
a)
Need
b)
Want
c)
Value
d)
Decision
7.
To become financially successful, you must follow two steps:
a)
Have a goal and be able to spend money
b)
Have a place and be able to invest
c)
Have a goal and a plan
d)
Be able to save money and have a plan
8.
According to the 70-20-10 Rule, what percent of your income should be saved?
a)
70%
b)
20%
c)
10%
9.
Bank accounts in most banks are protected by the FDIC by up to $_____.
a)
$100,000
b)
$150,000
c)
$200,000
d)
$250,000
10.
The insurance protection agency that protects most credit union accounts up to $250,000 is called the...
a)
NACU
b)
FDIC
c)
FICA
d)
NCUA
11.
The savings tool account that is used mostly to pay bills is called a...
a)
CD
b)
Money Market
c)
Checking
d)
Savings
12.
The savings tool that offers tiered interest rates that are dependent on the balance amount is called a...
a)
CD
b)
Money Market
c)
Checking
d)
Savings
13.
The number located on the bottom left corner of this check refers to the...
a)
Routing number
b)
Account number
c)
PIN
14.
This type of for-profit financial institution is owned by its investors
a)
Credit Union
b)
Bank
15.
This type of document requires a bank to draw on its own in-house funds which are fully-backed is called a...
a)
Money order
b)
Cashier's check
c)
Personal check
d)
Personal loan
16.
This document is meant mostly for those who do not currently have a checking account but to send payment through the mail
a)
Money order
b)
Cashier's check
c)
Personal check
17.
In regards to the make-up of your credit score, what percent of your score is based off of your payment history?
a)
35%
b)
30%
c)
15%
d)
10%
18.
The request to view an individual's credit report is called a...
a)
Credit check
b)
Credit inquiry
c)
Credit score
d)
Credit card
19.
Which of the following is NOT considered a credit bureau?
a)
Experian
b)
Expedia
c)
Transunion
d)
Equifax
20.
Which of the following is NOT one of the three types of credit?
a)
Closed credit
b)
Open credit
c)
Revolving credit
d)
Installment credit
21.
Which of the following is NOT one of the 4 C's of credit?
a)
Collateral
b)
Capacity
c)
Capital
d)
Collections
22.
Which of the following credit scores would provide a person with a very low interest rate on a loan application while also guaranteeing the approval of a loan?
a)
815
b)
650
c)
515
d)
350
23.
At which age can a consumer be approved for a credit card without the requirement of needing a co-signer?
a)
16
b)
18
c)
19
d)
21
24.
If approved for bankruptcy, it will remain on your credit report for how many year?
a)
4
b)
7
c)
8
d)
10
25.
Which of the following debts cannot be erased if filing for bankruptcy?
a)
Medical debt
b)
Student loans
c)
Credit card debt
d)
Utility bill debt
26.
Which of the following types of bankruptcy options allows for an extension to pay off debt?
a)
Chapter 7
b)
Chapter 11
c)
Chapter 13
d)
Chapter 15
27.
Which of the following is an example of a flexible expense that varies in price from month-to-month?
a)
Student loan payment
b)
Credit card bill payment
c)
Car loan payment
d)
Mortgage payment
28.
Which of the following types of student loans will the federal government pay the interest while the student is attending school?
a)
Subsidized
b)
Unsubsidized
29.
Which of the following types of student loans have interest rates that can change over time with or without notice?
a)
Private student loans
b)
Federal student loans
30.
Scholarships and grants are unique in that the student who is awarded them...
a)
Will have to pay back the amount over time
b)
Will not have to pay back the amount over time
31.
If an individual requests a forbearance on their student loan payments...
a)
The interest continues to accrue on subsidized loans only
b)
Interest continues to accrue on unsubsidized loans only
c)
Interest accrues on both subsidized and unsubsidized loans
d)
Interest does not accrue at all
32.
The month you can begin to apply for financial aid using the FAFSA application during your senior year of high school is...
a)
August
b)
October
c)
December
d)
January
33.
How many stocks are listed on the Dow Jones?
a)
25 stocks
b)
30 stocks
c)
50 stocks
d)
100 stocks
34.
The NYSE and the NASDAQ are both considered to be...
a)
Listings
b)
Exchanges
c)
Banks
d)
Credit unions
35.
During a bull market, stock prices are generally doing the following...
a)
Rising
b)
Remaining neutral
c)
Decreasing
36.
Which of the following is NOT considered one of the nine stock market sectors?
a)
Health care
b)
Fast food
c)
Entertainment
d)
Capital goods
37.
On average, dividends are typically paid out to investors how many times per year?
a)
Annually
b)
Bi-annually
c)
Monthly
d)
Quarterly
100 %
