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Personal Finance Intro

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

The knowledge and skill-set necessary to be an informed consumer and manage finances effectively.

a)

Financial Literacy

b)

Credit

c)

Debt

d)

Economy

2.

In what year did the American Way "Decline into Debt" ?

a)

1939

b)

1945

c)

1970

d)

2008

3.

Wealth building is 80% behavior and 20% ____________.

a)

Planning

b)

Head Knowledge

c)

Execution

d)

Personality

4.

A fee paid by a borrower to the lender for the use of borrowed money.

a)

Loan

b)

Debt

c)

Interest

d)

Credit

5.

A useful or valuable thing, person, or quality is considered an:

a)

Money Personality

b)

Liability

c)

Asset

d)

Property Tax

6.

The state of being responsible for something, especially a debt or financial obligation is considered to be a...

a)

Money Personality

b)

Liability

c)

Asset

d)

Property Tax

7.

If I pay $100,000 "cash" for a home and spend another $20,000 "cash" redoing the kitchen, how much am I in debt to the bank?

a)

$120,000

b)

$100,000

c)

$20,000

d)

None of the Above

8.

What are the 3 levels of financial well-being?

a)

Bills, House, Cars

b)

Math, English, Science,

c)

Earth, Wind, Fire

d)

Survival, Comfort, Secure

9.

You buy a house for $200,000 and spend $30,000 is renovations. If the house is appraised for $300,000, how much equity do you have in the home?

a)

$30,000

b)

$70,000

c)

$200,000

d)

$300,000

10.

If I purchase an item for $5,000 and tomorrow the same item is only worth $3,000, this item has a ______________ value:

a)

Growing

b)

Appreciating

c)

Balanced

d)

Depreciating