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WorksheetsConsumer Math Exam Review (S1)
Total questions: 25
Worksheet time: 34mins
The WORST way to start off a job interview is...
introducing yourself
being late
making eye contact
saying how you heard about the job
What does not need to be on your resume?
Relevant job experience
Good grammar and formatting
Professional language
Social media info
At the end of a job interview, do NOT ask...
when you'll hear back
what your pay is
why the job is open
What has the worst impact on your credit score?
Having several credit cards
Being unemployed
Overdrafting
Bankruptcy
The best way to improve your credit score is to...
file bankruptcy
open a credit card any time you're offered one
make monthly payments on time
Auto loans and mortgages are __________ because the bank can take away your house or car if you miss too many payments
unsecured debts
secured debts
installment loans
revolving credit
Auto loans and mortgages are ____________ because you borrowed a set amount of money that you'll pay back over time
unsecured debts
secured debts
installment loans
revolving credit
Credit cards can have ____________ interest rates, depending on what it says in the Schumer Box
fixed
variable
either fixed or variable
How much money should you keep in your emergency savings?
2 - 5 months
3 - 6 months
4 - 7 months
6 months - 1 year
Which is not a benefit of using a budget?
It tracks money you get
Helps you spend money on important things first
Helps reach long- and short-term financial goals
It helps your credit score
Credit cards are ____________ because you could keep borrowing and paying it off forever.
unsecured debts
secured debts
installment loans
revolving credit
You're writing a check for $600.32. How should you write the amount in words?
Six hundred and 32/100 -----------
Six hundred and xx/100 -----------
Six hundred thirty two -------------
Six hundred ----------------------
The snowball method pays off _______________ debts first.
higher interest
lower interest
larger debts
smaller debts
The high-rate method pays off _______________ debts first.
higher interest
lower interest
larger debts
smaller debts
You take out a simple interest loan for $3,000 at 5% interest for 2 years. What is the interest amount you'll pay?
$300
$3,000
$30,000
$3,300
You take out a loan for $4,000 at 3.2% interest compounded annually. What is the balance of the account after 5 years?
$4,682.29
$16,029.86
$5,454.67
$640
You take out a simple interest loan for $3,000 at 5%. What is the balance of the account after 2 years?
$300
$3,000
$30,000
$3,300
You take out a loan for $4,000 at 3.2% interest compounded annually. How much interest will you have paid after 5 years?
$4,682.29
$16,029.86
$682.29
$640
What does a bank do with your money?
Lends it out at a lower interest rate than what they pay you
Lends it out at a higher interest rate than what they pay you
Keeps it in a vault until you're ready to withdraw or use it
Sends it to the Federal Reserve, where it sits in a vault
_______________________ is the starting amount of an account or investment
Interest
Rate
Security Deposit
Principal
_______________________ is the amount of money you pay before moving into a rented apartment or house. You get it back when you move out if you didn't damage the property.
Interest
Rate
Security Deposit
Principal
You are going to use the 50/30/20 rule. Your monthly gross income is $4000. Your monthly net income is $3200.
How much should you spend on wants?
$800
$640
$1,200
$960
$1,500
Your gross pay is $650. There is 9.72% withheld from your paycheck for taxes and insurance.
What is your net pay? Round to the nearest cent.
$63.18
$586.82
$631.80
$6,318
You earn $10.20 per hour for 40 hours weekly and time a half for overtime.
If you worked 8 hours of overtime one week, what is your total pay?
$408
$122.40
$530.40
$440.8
By paying more than the minimum monthly payment on a loan...
you _________________ the principal and you _____________ the total interest you pay
increase, increase
increase, decrease
decrease, increase
decrease, decrease
