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WorksheetsSheltered Personal Finance-Semester Review
Total questions: 52
Worksheet time: 26mins
What is something that you strive to achieve over a certain amount of time?
value
result
goal
skill
Q2. What type of goal would you expect to achieve in the near future, such as in a day, week or a few months?
Short Term Goal
Medium Term Goal
Long Term Goal
Durable-term goal
What are considered to be principles or standards that you believe are important to live and work by, and these influence your decisions?
Goals
Jobs
Skills
Values
Q3. What are natural abilities to learn or do something?
Career
Abilities
Aptitude
Job
What is a paid position of employment?
Careers
Abilities
Aptitudes
Job
A professionally presented document that introduces you to a prospective employer by highlighting your education and work experience.
Internship
Resume
Cover Letter
Objective
Jacob has a formal meeting, in which one or more people will ask him questions for a job. What is this meeting called?
Job Description
Job Qualifications
Job Interview
Job Satisfaction
____________ are total earnings for that pay period before deductions are taken.
Net Pay
Take Home Pay
Gross Pay
Wage Deduction Pay
_________ is the pay you receive after deductions. It is the amount you receive on your paycheck.
Gross Pay
Net Pay
Deductions Pay
Benefits Pay
________ is an expense amount that does NOT change.
Fixed Expense
Variable Expense
Periodic Expense
Annual Expense
________ is an expense amount that does change.
Fixed Expense
Variable Expense
Periodic Expense
Annual Expense
A higher deductible for insurance results in ______________.
a higher premium
a lower premium
no premium
the same premium
What is a surplus in a cash flow?
The excess cash after you have paid your bills.
The amount of money received from earnings from a job or business.
The money paid to sales people for selling products or services.
The fixed amount of an annual salary that is spread over a number of pay periods.
What pay is earned when you work more than 40 hours a week?
Salary
Tips
Overtime
Commission
What is a budget?
Money set aside for future use.
Money set aside for emergencies.
Estimate of retirement living needs.
Estimate of income and expenses.
Which item is an example of an asset?
bank account
house loan
student school loan
car loan
Which item is an example of a liability?
student loan
bank account
car
house
When you pay money into your savings first, and then living on the remainder of your take-home pay, what concept are you applying?
Disposable Income
Savings Income
Net pay
Pay Yourself First
It will take Nohea 15 years to pay off her school loan. What kind of goal would this be?
Short term goal
medium term goal
Long term goal
temporary term goal
Aleigha's goal is to pay off her car loan in 3 years. What kind of goal is this?
Short term goal
Medium term goal
Long term goal
Temporary term goal
Makila got a job at Burger Hut. What form does she have to fill out when she starts this job to determine how much federal income taxes will be taken from her paycheck?
W-2 Form
W-4 Form
I-9 Form
1040 Form
What FICO score (credit score) is the best score, which can give you the lost interest rate?
Below 500
500-599
600-699
700-850
Jose uses the internet to purchase a lot of his school clothes. What should he do to protect his information?
use an "http" site
use an "https" site
use an www site
ignore security measures
What happens to your purchasing power when the prices of products rise due to inflation and your income stays the same (doesn't increase)?
It increases
It decreases
It stays the same
It is equal
Why is it important to create a budget?
It helps you to plan how you will spend and save money.
It helps you to spend more than you earn.
It helps you to spend money and go into debt.
It helps you to buy products and not save money.
Joe did not pay his credit card in full. What will he have to pay?
inflation
average balance charge
grace period
finance charge
What is a minimum payment on a credit card mean?
The amount you are required to pay.
The amount you have as a balance.
The amount of your finance charge.
The amount you have for late payments.
If you want to increase your credit score, what would be a good choice to make?
make payments to your bank
make credit payments late
make credit payments on time
make cash payments
Why should filing for bankruptcy be your last resort?
It will cause you to keep most of your debt.
It will damage your credit rating.
It will cause you to pay all of your bills.
It will allow you to pay for your car loan.
Jack and Jill want to make sure they have money for unplanned expenses. What should they do?
Save money in their retirement fund.
Save money in their freezer.
Save money in an emergency fund.
Save money in their car loan.
What type of interest method earns interest on the principal and interest?
simple interest
compound interest
rule of 72
monthly interest
What strategy is applied when money is put away in a savings account before any bills are paid?
Pay yourself first
Emergency fund
Budgeting
Financial Planning
What is the benefit of a 401(K) plan that is offered by employers?
Money saved for retirement.
Money saved for insurance.
Money saved for health insurance.
Money saved from the paycheck.
Hunter lost control of his car and jumped the curb and hit a fences and distroyed the flower garden. What insurance would pay for the repairs to the fence and distroyed flower garden?
comprehensive
liability
collision
property damage
When Landen came out of the grocery store, he noticed his car had been keyed. What insurance will pay for the damage to his car?
comprehensive
collision
liability
property damage
Ian rents an apartment close to his college. While he was out for a walk, someone broke into his apartment and stole his computer and TV. What insurance will pay for the loss of his computer and TV?
homeowner's insurance
renter's insurance
liability insurance
comprehensive insurance
What is workman's compensation?
Pays medical bills and lost wages if you are injured on the job.
Pays medical bills and lost wages if you are injured while hiking with friends.
Pays medical bills and lost wages if you work for the state.
Pays medical bills and lost wages if you are on vacation.
Callie and her friend were driving to the mall. Callie hit another car and her friend was injuried. What insurance pays for the injuries to her friend?
Comprehension
Liability
Personal Injury protection
Collision
Kip hit another car on the way to work. What insurance pays for the damage to his car?
Comprehensive
Collision
Liability
Uninsured
A tornado hit a tree and caused the tree to fall on Kia's car. What insurance will pay for the damage to her car?
Comprehensive
Collision
Liability
Property damage
Malani is a victim of identity theft after purchasing her new TV online. What might have caused her identity to be stolen?
She installed a firewall on her computer.
She used a secure website.
She used a strong password.
She gave her personal information and social security number online.
Juan lost his credit card. What is the FIRST thing Juan should do to protect himself against identity theft?
Call the credit bureau to report the card stolen.
Call the credit card company to cancel the card.
Call the bank to transfer money.
Call FTC to file a complaint.
The bank is insured by the Federal Deposit Insurance Corporation (FDIC). What does this mean?
Insures deposits in your account against bank failure.
Insures against mortgage foreclosure.
Insures against foreclosure.
Insures against reposession.
What card is used for purchases and withdrawing money from an ATM in which money is taken directly out of your checking account?
Credit card
Debit card
gift card
Debt ATM card
Felic did not have enough money to purchase his mom a birthday gift. He decided to use a card that he has to pay back after the grace period. What is this card?
Credit card
Debit card
Debt ATM card
Gift card
What is the benefit of direct deposit?
You would need to go to the bank to deposit the check.
The money is available the same day it is deposited.
The money is available the next day it is deposited.
The money is available, but you have to wait for the check to clear.
What information is NOT on a resume?
Education
Work Experience
Skills
Bank Account Information
What is an example of a required deduction?
Social Security
Health Insurance
401(k)Plan
Life Insurance
What is an example of an optional deduction?
Social Security
Health Insurance
Medicare Tax
Federal Income Tax
How much money has Tyler paid for health insurance so far this year?
$292.50
$97.50
$25
$375
What is Tyler's gross pay for this pay period?
$3,600
$1,200
$1,950
$2,500
What is Peter's net pay for this pay period?
$458.05
$501.95
$960
$1418.05
