WorksheetsQuizizz one- PFL
Total questions: 109
Worksheet time: 56mins
Having skills and knowledge to manage financial resources (money, investments, education, etc.) for a lifetime of financial well being
Personal Finance Literacy
Poverty
Credit Score
Culture and Society
Which of the following is a reason to study Personal Finance Literacy?
understand taxes
learn to budget and save
understand the relationship between income and education
they are all reasons to study personal finance
Which of the following is not an effect of Poverty?
Living in the safest neighborhoods
Struggles to get to school and low academic achievement
Homelessness
Food insecurity
What does it mean that poverty is cyclical?
Often people raised in poverty think that they cant do better so they live and raise their families in poverty?
That all people that live in poverty are homeless
If you have addictions you will live in poverty
That all people that live in poverty are high school dropouts
Which of the following is not a way to avoid poverty?
Wait until 21 to get married and have children
At least, graduate from high school
Work a full time job and maintain it
Increase Welfare payments
A bachelor's degree can usually be earned in ______ years
4-5
2
7-8
Less than 2
Which of the following types of student aid is not allocated through the FAFSA?
Scholarships
Pell grant
Subsidized and unsubsidized loans
Parent plus loans
Grants..
Do not need to be paid back
Must be paid back
------
------
If you need to take out student loans to attend College, you should try to get an _____________ loan, because...
subsidized; the government pays the interest while you are in college
unsubsidized; the government pays the interest while you are in college
subsidized; the government does not pay the interest while you are in college
unsubsidized; the government does not pay the interest while you are in college
The experience, education, skills and work ethic that you bring to a job
Human Capital
Net income
Disposable income
Passive income
Income earned before taxes
Gross income
Net income
Disposable income
Discretionary income
Income earned after taxes have been deducted
Disposable income
Net income
Discretionary income
Gross income
Income after taxes and after paying for your needs
Discretionary income
Disposable income
Net income
Gross income
What is the difference between gross and net income?
Gross income is before taxes are deducted and net income is after taxes are deducted
Gross income is after taxes are deducted and net income is before taxes are deducted
Gross income is before taxes and net income is after taxes and needs are paid
Net income is before taxes and Gross income is after taxes and needs are paid
What is the difference between disposable and discretionary income?
Disposable income is before taxes are deducted and Discretionary income is after taxes are deducted
Discretionary income is after taxes are deducted and disposable income is before taxes are deducted
Disposable income is after taxes and discretionary income is after taxes and needs are paid
Discretionary income is before taxes and Disposable income is after taxes and needs are paid
Highest risk investment
Stocks
Mutual funds
Certificate of deposit
Government bond
Which of the following is lowest risk investment to highest risk investment
stock, mutual funds, government bonds, Certificate of Deposit
Certificate of Deposit, government bonds, Mutual funds, stock
Certificate of deposit, Stocks, Mutual funds, Government bonds
Mutual funds, Certificate of Deposits, stocks, Government bonds
Our individual income tax is
Progressive
Regressive
Proportional
Flat
FICA pays for
Social security and medicare
Social security and medicaid
Medicare and medicaid only
Social Security and welfare
When budgeting, your _______ should be more than your ____________
income, expenses
expenses, income
--
--
What insures deposits at the bank up to $250,000?
FDIC
FICA
SEC
The bank
Which of the following are examples of Payroll taxes?
Income tax
FICA
Property Tax
Sales tax
When you pay interest on the principal and on previous interest charged
Compounding interest
Simple interest
Contrasting interest
standard interest
What is an example of installment credit?
Credit cards
Car payments
Mortgages
Sales tax
What is an example of revolving credit?
Credit card
Mortgage payments
Car payments
Property taxes
What type of insurance on automobiles is legally required (minimum required)
Liability
Collision
Comprehensive
Full coverage
If you are 45 years old, you own a home and You are making payments on 2 cars. You are planning for a trip to Europe. What type of insurances do you need?
Homeowners insurance, Health insurance, collision/comprehensive auto insurance, disability insurance, travelers insurance
Renters, Health insurance, collision/comprehensive auto insurance, disability insurance, travelers insurance
Homeowners insurance, Health insurance, liability auto insurance, disability insurance, travelers insurance
Homeowners insurance, Health insurance, disability insurance, travelers insurance
A 25 year old that is renting an apartment, owns their car (not making payments) and works a professional job. What type of insurances would they need?
Renters insurance, Liability insurance, disability insurance, health insurance
Home owners insurance, Liability insurance, disability insurance, health insurance
Renters insurance, Liability insurance, disability insurance, health insurance, travel insurance
Renters insurance, Liability insurance, disability insurance,
Short term, high interest loans are
Credit Cards
Mortgage loans
Car insurance
--
The money you pay month to month to maintain your insurance is the _________________; The amount the person insured must pay before the insurance will pay is the __________________.
Premium, deductible
deductible, premium
Collateral, Principal
Principal, Collateral
A "Post- tax" or after tax retirement account. Taxed when earned, funds build up, when you withdraw, they are not taxed again
Roth IRA
Traditional IRA
401K
403B
No taxes taken out before it is put into the retirement account. Taxed when withdrawn
Roth IRA
Traditional IRA
401K
403B
Is a "salary deferral". Meaning an employee contributes up to a certain percentage of their income into a retirement account.
401K
403B
Roth IRA
Traditional IRA
A spending plan that compares income to expenses. All people should have one of these
Budget
Credit card
Ponzi Scheme
Bank account
What is a ponzi scheme?
Convincing people to try and sell a fake product. You make money by getting more sellers, not buyers.
Convincing people to give up their social security numbers. You make money by selling these or getting loans.
Convincing people to donate to a fake charity. You make money by taking most of the donations and only donating a little bit.
Convincing people to invest in a fake company. You make money by getting more investors and then stealing all the money.
What is a pyramid scheme?
Convincing people to try and sell a fake product. You make money by getting more sellers, not buyers.
Convincing people to give up their social security numbers. You make money by selling these or getting loans.
Convincing people to donate to a fake charity. You make money by taking most of the donations and only donating a little bit.
Convincing people to invest in a fake company. You make money by getting more investors and then stealing all the money.
Which is a requirement for a person to become a naturalized citizen?
Marrying a US Citizen and having a child with that person.
Being a legal permanent resident for at least five years.
Gaining employment in the United States for at least five years.
Reaching age 18 while living in Washington, DC.
Martin was born in San Diego, California. He joined the Navy and was sent to Italy. He married Bianca, an American attending college in Italy. Martin and Bianca had a daughter. When Martin left the Navy, he and his family returned to California.
What happened to Martin's daughter?
She was sent back to Italy.
She was granted resident alien status because she had not yet been naturalized.
She was allowed to enter the country because her parents were citizens, even though she was not.
She was allowed to enter the country because she was a citizen.
What right do only citizens have?
Attending public schools.
Owning property.
Holding a job.
Voting.
Which of the following is not a responsibility of citizenship?
volunteering in the community.
attending civic meetings.
voting in elections.
paying taxes.
Phillip always dreamed of being the president of the United States. Then one day in Civics class, he learned that the Constitution makes that impossible. Why can Phillip never be the President?
He moved to this country when he was two years old.
His mother did not pass the Naturalization test.
His parents are not citizens.
His father is Mexican.
Which naturalization requirement is missing?
- Be at least 18 years old
- Be a legal permanent resident for at least 5 years
- Speak English
- Pass Exam & Interview
- Take Oath of Allegiance
Sign up for the Selective Service
Register to Vote
Be of Good Moral Character
Be able to read and write
Below is an excerpt from the 14th Amendment:
"All persons born or naturalized in the United States, and subject to the jurisdiction thereof are citizens of the United States and the State wherein they reside."
What is the purpose of that excerpt?
Explaining the duties of citizens and states
Defining citizenship of the United States
Protecting the natural rights of immigrants
Limiting the rights of all Americans
There are three paths to citizenship in the United States. What are they?
Law of Blood, Law of Soil, and Selective Service
Law of Mud, Law of Genetics, and Selective Service
Law of Blood, Law of Land, Naturalization
Law of Blood, Law of Soil, and Naturalization
Which of the following is not an obligation of citizenship?
Paying Taxes
Jury Duty
Voting
Defending the Nation (Selective Service)
Which of the following is not a requirement to vote?
18 years old
Registered to Vote in only one place
Be a Citizen
Speak English
What is mail in voting
You vote online
You request a ballot, they verify where you live and you vote and mail your ballot
Every registered voter receives a ballot in the mail at their last known address
You go to the polls and vote in person
What is absentee voting
You vote online
You request a ballot, they verify where you live and you vote and mail your ballot
Every registered voter receives a ballot in the mail at their last known address
You go to the polls and vote in person
Who is the person that is most likely to vote?
White Middle aged woman
Minority 19 year old male
Low income, middle aged man
A 17 year old woman from a wealthy family
Who the least likely to vote
White middle aged woman
Minority male that is 18 years old
A wealthy Minority man
White 19 year male, from a weal
Which of the following are the rights of citizens only?
Vote and Run for political office
Vote and the Bill of Rights
Run for political office and be informed of issues
Be informed of issues and Life, Liberty and the Pursuit of Happiness
Which amendment gave African American men the right to vote
15th
19th
24th
26th
Which amendment gave Women the right vote?
15th
19th
24th
26th
Which Amendment Eliminated Poll taxes and literacy tests
15th
19th
24th
26th
Which Amendment lowered the voting age from 21 to 18
15th
19th
24th
26th
Step One- Apply for Citizenship
Step Two- ???
Step Three- Interview
Step Four- Take tests (Prove you can read and write in English)
Step Five- Take the oath in English (Prove you can speak English)
What is missing? (step two)
Get fingerprinted and do background checks
Register to vote
Marry a US citizen
Memorize the US Constitution
The first 10 amendments is the
Bill of Rights
Declaration of Independence
Federalist papers
The Preamble to the Constitution
One Right of all is Life, Liberty and Pursuit of Happiness is found in which document?
Declaration of Independence
The Constitution
The Preamble
The Pledge of Allegiance
What is not a duty of a United States Citizen?
Vote
Jury Duty
Register for Selective service (if male)
Follow the law
Which amendment protects you from illegal search and seizure?
4th Amendment
5th AMendment
6th Amendment
8th Amendment
Which set of amendments protects your due process?
4th, 5th, 6th, 8th
2nd, 4th, 6th, 8th
6th, 8th, 9th, 10th
4th, 5th, 8th, 9th
Rule of Law
Established with the Magna Carta
Means courts establish the law
Means the courts are free of the law
Means everyone, including the government, king, etc must follow the law
Limited the power of the king, argued for more fair punishments, guaranteed the rights of nobles
English Bill of Rights
Petition of Rights
Magna Carta
English Common Law
In our Government and Constitution, we got the Freedom of speech, right to carry a weapon for protection and right of taxation without the consent of parliament
Magna Carta
English Bill of Rights
Petition of RIghts
English Common Law
Philosopher that most influenced the Declaration of Independence and Thomas Jefferson
John Locke
Thomas Hobbes
Jean Rousseau
Baron de Montesquieu
Believed that man was evil and we got the idea that government should protect the people
Locke
Montesquieu
Rousseau
Hobbes
Wrote about the Separation of Powers and checks and balances
Hobbes
Locke
Monetsquieu
Rousseau
Natural Rights
John Locke
The Bill of Rights
Thomas Hobbes
Life, Liberty and Property
Government is instituted among men, people should have life, Liberty and the pursuit of happiness, and it listed grievances against Britain
Bill of RIghts
Petition of Rights
Constitution
Declaration of Independence
Legal aliens cant
pay taxes
serve on juries or vote
own property
work legally
Which of the following is not part of the naturalization process?
Take an oath in English (demonstrate speak english)
take a test
live in United states 5 years
have a professional job
Which of the following is not a responsibility of a citizen?
Voting and knowing candidates stances
serving on juries
participating in democracy (voting, running for office, etc.)
owning property and Liberties of the Bill of Rights
French and Indian war, stamp tax, intolerable act, tea tax, Boston Tea Party
Causes of the American Revolution
Causes of the Civil War
Causes of World War one
Constitutional Convention
small state plan, wanted equal representation for all states
Federalists
Virginia Plan
New Jersey Plan
anti- federalists
Large states plan, wanted representation based on population
New Jersey plan
Virginia Plan
Federalists
Anti- Federalists
bicameral congress. senate with equal representation, House of Representatives with representation based on population
New Jersey plan
Virginia Plan
Connecticut Compromise
Great Compromise
Primary author of the Constitution
James Madison
Thomas Hobbes
John Locke
Thomas Jefferson
What document did we write to fix the weaknesses of the Articles of Confederation?
The Constitution
The Bill of Rights
The Declaration of Independence
Legislative branch
Article 4
Article 3
Article 2
Article 1
Supremacy Clause
Article III
Article IV
Article V
Article VI
Establish Justice
Liberty for us and for our future
Fair court system with due process
Have a national Military
Provide for society
Domestic Tranquility
Peace and protection in our nation
A fair justice system
have freedoms for us and our future
have a military
citizenship by birth on the soil, due process of laws for citizens and equal protection of law for all citizens
14th amendment
Preamble
Bill of Rights
Declaration of Independence
a doctrine in political theory that government is created by and subject to the will of the people
Popular Sovereignty
Limited Government
Separation of Powers
Checks and balances
powers and responsibilities are divided among the legislative branch, executive branch, and judicial branch.
Checks and Balances
Separation of Powers
Limited Government
Popular Sovereignty
· Included guarantee of rights and limitation of government or executive power
· Established the Rule of Law- all people, including the government, must follow the law
Magna Carta
English Common Law
English Bill Of Rights
Declaration of Independence
· Protected the Rights of the people
· Main protections included:
o No taxation by Monarchy- Taxation approved by Parliament
o Freedom of Speech
o Citizens could criticize the King
o Citizens weapons for protection
o Citizens could elect lawmakers
Magna Carta
Petition of Rights
English Bill of RIghts
Declaration of independence
· July 4, 1776
· Father of the document is Thomas Jefferson
· Based on Social Contract theory
Magna Carta
Petition of Rights
English Bill of RIghts
Declaration of independence
· Fiercely opposed to slavery, because was a strong believer in Unalienable rights
· Huge Believer in Religious Toleration
· Believed in Separation of Church and State
Voltaire
Rousseau
Hobbes
Locke
· His Idea of Social contract theory… which is that the government governs with the consent of the governed (people)
Voltaire
Rousseau
Hobbes
Locke
Examples of payroll taxes are
Social security and Medicare
Social security and Medicaid
Health insurance
Income tax and FICA
The percentage of taxes paid increases as income increases
Progressive tax
Regressive tax
Proportional tax
The amount of money that remains after you have paid food, water, shelter
Discretionary income
Disposable income
Gross income
Net income
What programs does the FICA tax fund (pay for)?
Social security and Medicaid
Social security and Medicare
Medicare and Medicaid
Social security and welfare
Human Capital is a determinant of income, Human Capital includes
The education, experience, skills and Work Ethic that a worker brings to a job
The amount of education a worker has is all that matters
The years of experience that a worker has is what define human capital
The physical things that a worker can provide
What does it mean to pay yourself first?
To save for your retirement for long term security
To buy yourself something nice every paycheck
To pay your discretionary bills first
Which amendment gave African-Americans the right to vote?
13th
14th
15th
19th
Which amendment set the voting age to 18?
26th amendment
24th amendment
19th amendment
23rd amendment
Which amendment gave women the right to vote?
13th amendment
15th amendment
19th amendment
26th amendment
What three factors predict who is likely to vote?
Age, Education, Favorite hobby
Hair color, Education, Income
Age, Zip Code, Income
Age, Education, Income
Which is a qualification to vote?
graduate high school
pay all of your taxes
own a house
be a U.S. citizen
What is a 401K
A retirement plan
An education plan
A health benefits form
What is debt?
Money you have borrowed and need to pay back
Money you make from working at a job
Money you make from the government
Taxes that you pay when you buy something
What is a credit score?
a three-digit score that tells lenders how much money you make each year.
A five-digit numerical rating that reflects how likely you are to repay your debt.
A three-digit numerical rating that reflects how likely you are to repay your debt.
A credit score is a five-digit numerical rating that reflects how likely you are to fail at paying your debts
Obey laws, pay taxes
Right
Duty
Neither
