NEW
Font size
WorksheetsTransition Final part 2
Total questions: 34
Worksheet time: 17mins
What is initiative?
The ability to take action independently.
The ability to multitask.
The ability to concentrate for long periods of time.
Initiative allows people to grow and to reach their goals.
True
False
What does the “S” in “S.M.A.R.T. Goal stand for?
Specific
Some
Spacious
What does the "M" in S.M.A.R.T. Goal stand for?
Maintained
Measurable
Meaningful
What does the "A" in S.M.A.R.T. Goal stand for?
Anytime
Alliance
Attainable
What does the "R" in S.M.A.R.T. Goal stand for?
Recall
Rare
Relevant
What does the "T" in S.M.A.R.T. Goal stand for?
Time-Bound
Tentative
Try
Which type of bank account is best for everyday transactions?
Savings Account
Checking Account
Why is it important to reconcile your bank statements?
To avoid spending more than what is in your account.
To detect any errors in your account
To determine if you were charged any fees.
All of the above
What should you do before you withdraw money from the ATM?
Ask someone nearby for help using the ATM.
Inspect the ATM to make sure it wasn't tampered with.
Share your pin number with trusted friends so you don't forget it.
What should you do before you approach an ATM?
Check for any suspicious people lurking nearby.
Share a picture of your debit card with your friends.
Ask someone nearby for help using the ATM.
What should be considered when setting a budget?
Savings
Time management goals
Needs, wants, and savings
___________ are good places to look to find your current expenses when building your budget.
Banks and credit unions
Grocery stores and concerts
Bank and credit statements
Which of the following is a way to track your spending?
Spreadsheet budget
Envelope method
An app
All of the above
The envelope method, notebook and pencil, and online software are all methods of ______.
planning for your future
estimating your unexpected expenses
tracking your spending
Which choice or choices best describes the purpose of an emergency fund?
An emergency fund prepares you for unexpected expenses
An emergency fund keeps you from borrowing money from friends and family.
An emergency fund removes the worry about expenses not in the budget.
All of the above are good reasons to have an emergency fund.
This helps you prepare for unexpected expenses.
Emergency Fund
Credit cards
Checking account
When setting a budget, you should consider...
financial goals, current expenses, and income.
mostly income.
creative ways to spend your money
Which of the following expenses would be a good reason to spend money from an emergency fund?
Repair your laptop that you use for homework.
Upgrade your phone to the latest model.
Purchase concert tickets to see your favorite artist.
Making a good purchasing decision requires __________.
comparing the prices of similar items
reading reviews of the product
waiting until the product is on sale, if possible
All of the above
The price of a single item within a group of items is known as the ______________ of the item.
Group price
Item price
Unit price
Which payment option takes money out of your bank immediately?
Check
Debit Card
Cash
Which payment option could have interest charged to you?
Check
Debit Card
Credit Card
Making a good purchasing decision requires __________.
comparing prices and features
reading consumer reviews
Both Choices
Which method of payment actually is a form of borrowing money that needs to be paid back later?
Check
Debit Card
Credit Card
Having a great credit score will make it easier for you to get into a better educational institution.
True
False
Using a loan could help with the purchase of which of the following?
New Television
A house
Dream wedding
To maintain a good credit score you must ______.
manage your debt wisely
have many open credit cards
check your credit score every week
What is net pay?
The amount of money you're paid after all taxes and deductions are taken out of your paycheck
The amount of pay earned for the total number of hours worked
The amount of money you're paid before all taxes and deductions are taken out of your paycheck.
What is the difference between gross and net pay?
Gross pay is before taxes are subtracted but net pay is after taxes are taken out.
Net pay is a salary and gross pay is from hourly wages.
Gross and net pay are basically the same things.
What do taxes pay for?
Privately-owned businesses
Operation of financial institutions
Schools, government departments, roads, and emergency services
How does the government pay for roads, schools, and emergency services?
They are funded through taxes.
They are funded through charitable donations.
hey are funded through non-profits
Each year, you must file ____________________.
only your federal taxes since state taxes get filed every other year
your federal taxes and state taxes if your state requires it
your federal, state, county and town taxes
Healthcare, paid time off, disability insurance, and matching contributions to a retirement account are all types of _________ available from your employer.
Allowances
Deductions
benefits
