WorksheetsMoney Matters Fall Exam
Total questions: 56
Worksheet time: 3hrs 48mins
Name
Class
Date
1.
When money is deposited in a bank, it does not sit in a vault. The financial institution lends the money to other __________________________________.
a)
consumers, businesses, and government organizations
b)
consumers, businesses, and student organizations
c)
church, businesses, and student organizations
d)
consumers, construction, and student organizations
2.
If money could not circulate easily the nation’s money supply would?
a)
shrink
b)
grow
c)
disappear
d)
rust
3.
If money could not circulate easily ... Funds would not be available for consumer _____________ and _________________.
a)
borrowing / spending
b)
spending / burning
c)
loaning and borrowning
d)
monkey and elephant
4.
If money could not circulate easily … Businesses could not get enough money to _________________
a)
Develop new products
b)
Hire people
c)
Pay their bills
d)
Grow Crops
5.
If money could not circulate easily …the economy would ________________
a)
Slow down
b)
Speed up
c)
Crash
d)
Climb a tree
6.
If money could not circulate easily …Demands for goods and services would ____________
a)
Fall
b)
Rise
c)
Stay the same
d)
Circulate
7.
Examples of financial instutions
a)
Banks
b)
Credit Unions
c)
Savings and Loans
d)
All of these
8.
What type of bank is ...owned by investors called stockholders or shareholders.
a)
Commercial
b)
Community
c)
Mutual Savings
d)
Internet
9.
What type of bank is ...locally owned and operated
a)
Commercial
b)
Community
c)
Mutual Savings
d)
Internet
10.
What type of bank is ...owned by depositors (the people who keep their money in the bank)
a)
Commercial
b)
Community
c)
Mutual Savings
d)
Internet
11.
What type of bank … provides services exclusively online (no branch buildings to visit)
a)
Commercial
b)
Community
c)
Mutual Savings
d)
Internet
12.
What is a nonprofit financial cooperative owned by and operated for the benefit of its members?
a)
Credit Union
b)
Commercial Bank
c)
Savings Bank
d)
Internet Bank
13.
How can someone join a Credit Union?
a)
Employer Affiliation
b)
Religious Affiliation
c)
Geographical Location
d)
All of these
14.
What is the advantage of using a Credit Union?
a)
Lower Rates on Loans
b)
A large number of branches.
c)
ATMs in many locations.
d)
Locations all over the country.
15.
What is the advantage of using a Commercial Bank?
a)
Many branches in many states
b)
Higher rates on loans
c)
Easier to get a loan
d)
They want to help locals
16.
What is the advantage of using an Internet Bank?
a)
Lower Account Fees
b)
A large number of branches.
c)
Easy to get loans
d)
They want to help locals
17.
When you deposit money in a bank they put the money directly in a vault.
a)
true
b)
false
18.
Community Banks are more interested in the local economy than Commercial banks.
a)
true
b)
false
19.
Credit Unions are typically non-proft businesses.
a)
true
b)
false
20.
If people stopped using banks it would be bad for the economy.
a)
true
b)
false
21.
You should avoid using banks.
a)
true
b)
false
22.
This is a written order for the bank to pay a specific amount a specific person.
a)
check
b)
debit
c)
deposit
d)
savings
23.
This type of card allows the holder to electronically access funds in their account or ATM.
a)
check
b)
debit
c)
deposit
d)
savings
24.
When you have spent more money than you have in your acount.
a)
overdrawn
b)
debit
c)
deposit
d)
savings
25.
A card that allows a user to make purchaces using credit.
a)
credit
b)
debit
c)
deposit
d)
savings
26.
To pay off a credit card you are required to make what?
a)
Monthly Payments
b)
Monthly Deposits
c)
Credits
d)
Overdrafts
27.
This is charged on the balance of a credit card?
a)
Interest
b)
Credit
c)
Savings
d)
Overdrafts
28.
A bank account used by depositors to set aside money for the future.
a)
Checking
b)
Credit
c)
Savings
d)
Overdrafts
29.
This is a box at a bank in which valuable items can be stored.
a)
Safe Deposit
b)
Vault
c)
Savings Box
d)
Stash Box
30.
Borrowning money from a bank.
a)
Loan
b)
Checking
c)
Savings
d)
Overdrafting
31.
When you get a loan you are legally required to pay it back with what?
a)
Interest
b)
Value
c)
Savings
d)
Checking
32.
What is taken out of your paycheck for FICA?
a)
Medicare and Social Security
b)
Personal Insurance
c)
Loan Payments
d)
Housing allowances
33.
Where is the best place to begin looking for a job?
a)
Employer Websites
b)
The Newspaper
c)
Friends
d)
Going door to door
34.
Which of the following jobs would not require a college education?
a)
Plumber
b)
Teacher
c)
Civil Engineer
d)
Attorney
35.
Which of the following jobs would not require a college education?
a)
Auto Mechanic
b)
Teacher
c)
Civil Engineer
d)
Attorney
36.
If people stopped using banks this would stop flowing in the economy.
a)
Money
b)
Jobs
c)
Trade
d)
Workers
37.
Which of the following jobs would require a college education?
a)
Civil Engineer
b)
Plumber
c)
Electrician
d)
Auto Mechanic
38.
When deciding on a career you need to look at what the education cost with regard to how much the job pays.
a)
true
b)
false
39.
Typically, part of deciding on if a career is right for you or not is what type of clothes you have to wear.
a)
true
b)
false
40.
You should account for how long you need to train for a job when deciding on a career.
a)
true
b)
false
41.
If you are unsure about what type of career would be good for you what might help?
a)
Take a career assesment test.
b)
Get an entry level job in the field.
c)
Watch YouTube videos on the career
d)
None of these.
42.
If your job income is expressed as an annual (yearly) amount, this number is called your ___________.
a)
Salary
b)
Overdraft
c)
Opprotunity cost
d)
Career
43.
An overview of an individual’s current financial position and strategies to meet future financial goals is called a _________________.
a)
financial plan
b)
paycheck
c)
savings account
d)
checking account
44.
_____________ is money that remains after a person has paid all of his/her expenses
a)
Discretionary Income
b)
Fixed Expense
c)
Opportunity Cost
d)
Needs
45.
Food - Clothing - Shelter
a)
Examples of Needs
b)
Examples of Wants
46.
Necessities that a person must have to survive
a)
Needs
b)
Wants
c)
Opportunity Cost
d)
Net Worth
47.
Things a person desires to buy but can live without.
a)
Wants
b)
Needs
c)
Opportunity Cost
d)
Net Worth
48.
When choosing between 2 alternatives, the value of the option that you gave up is called the ____________.
a)
Opportunity Cost
b)
Gross Pay
c)
Interest
d)
Overdraft
49.
____________ is a method of weighing the costs against the benefits of an action.
a)
Cost-Benefit Analysis
b)
Gross Pay
c)
Interest
d)
Overdraft
50.
A cost that CHANGES both in the amount and time in which it must be paid is called a ______________.
a)
Varible Expense
b)
Fixed Expense
c)
Liquid Asset
d)
Interest
51.
A cost that DOES NOT CHANGE over time is called a ____________________.
a)
Varible Expense
b)
Fixed Expense
c)
Liquid Asset
d)
Interest
52.
Which of the following is an example of a fixed expense?
a)
Rent
b)
Electricity Bill
c)
Food
d)
Credit Card Bill
53.
You wrote a check that took your bank balance below $0. Your account is now said to be _________________.
a)
Overdrawn
b)
Minused
c)
Debt
d)
Loaned
54.
At most what percentage of your income should you spend on housing to be financially sound?
a)
0.3
b)
0.4
c)
0.5
d)
0.1
55.
At most what percentage of your income should you spend on a car to be financially sound?
a)
0.15
b)
0.3
c)
0.2
d)
0.4
56.
Who sould be the first person/bill you should pay every month?
a)
yourself
b)
electric bill
c)
housing
d)
water bill
100 %
