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Chapter 1 Review: Dave Ramsey Middle School Edition

Total questions: 18

Worksheet time: 35mins

Name
Class
Date
1.

What percentage of personal finance is behavior?

a)

10%

b)

20%

c)

80%

d)

90%

2.

Debt is owing money to anyone for any reason.

a)

True

b)

False

3.

What percentage of personal finance is head knowledge?

a)

80%

b)

20%

c)

30%

d)

50%

4.

Whenever you receive money as a gift or for work, take _______ and put it away for savings.

a)

All of it

b)

None of it

c)

Some of it

d)

Exactly 90%

5.

Investments are things that are purchased with an expectation that they will _______.

a)

Grow too slowly

b)

Diminish in results

c)

Decrease over time

d)

Grow in value

6.

_______ on credit is a fee you pay on top of the money you already owe.

a)

Interest

b)

Mortgage

c)

Savings

d)

Equity

7.

A debit card only allows you to use the money you _______ in the bank.

a)

Already have

b)

Could have

c)

Don't have

d)

Still need

8.

It’s important to have a(n) _______ for what you’re going to do with your money.

a)

Wish

b)

Idea

c)

Plan

d)

Desire

9.

This plan for your money is called a(n) _______.

a)

Lesson

b)

Organizer

c)

Schedule

d)

Budget

10.

Using a credit card means you _______ to buy stuff.

a)

Barter clothing

b)

Use Debt

c)

Use cash

d)

Never decide

11.

Needs are things you have to have. Wants are _______ but _______ to survive.

a)

Fun; not necessary

b)

Helpful; absolutely necessary

c)

Concerning; somewhat necessary

d)

Annoying; rarely helpful

12.

It is important to _______ if you are a saver or a spender.

a)

Identify

b)

Not Care

c)

Avoid Observing

d)

Thoughtfully Consider

13.

Savers will _______ save money.

a)

Never

b)

Forget to

c)

Naturally

d)

Conditionally

14.

Spenders will naturally _______ money.

a)

Collect

b)

Spend

c)

Save

d)

Hoard

15.

When you become the opposite of selfish, you become _______.

a)

Self-Absorbed

b)

Selfless

c)

Self-concerned

d)

Self-respected

16.

You can give by giving of your time.

a)

True

b)

False

17.

_______ people are not fun to be around.

a)

Entertaining

b)

Compassionate

c)

Thoughtful

d)

Selfish

18.

There are three basic reasons to save money: Emergency Fund, _______, and Wealth Building.

a)

Credit Cards

b)

Purchases

c)

Student Loans

d)

Car payments