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WorksheetsFACS Midterm Review
Total questions: 34
Worksheet time: 18mins
If you overdraw your checking account, you will likely be charged an overdraft fee by all of the following EXCEPT___________.
your bank
the store
Mrs. Lewis
When you apply for a loan from the bank, you should expect to 1) fill out an application, 2) talk to a loan officer, 3) have your credit score checked, and 4) answer questions about _________.
How often you withdraw money from your account
Your salary and valuable property
your medical conditions and life expectancy
If you use a smartphone budgeting app and carefully record every deposit or withdrawal you make from your bank account, which of the following is likely to have the most up-to-date account balance?
your budgeting app
your online bank statement
neither--they will always be identical
If your dinner bill is $50, which of the following amounts makes most sense to leave as a tip?
$4
$10
$25
$20
Earning a bachelor’s degree (BA) is likely to __________.
INCREASE a person’s lifetime earnings.
DECREASE a person’s lifetime earnings.
have VERY LITTLE EFFECT on a person’s lifetime earnings.
Which of the following is a key principle related to the concept of tithing?
All that we own belongs to God.
We can buy God’s forgiveness.
It is important to impress others with our charitable giving.
Choose the most accurate statement about savings accounts.
Savings accounts allow an unlimited amount of withdrawals each month.
Savings accounts may require you to maintain a minimum balance to avoid paying a fee.
Savings accounts are a much riskier place to put your money than the stock market.
If you find a mistake with one of your bank accounts. Who should you contact to resolve the issue?
The local police department
The IRS
your financial institution
Why is it important to reconcile your bank statements?
To detect any errors in your account
To determine if you were charged any unexpected fees
To avoid spending more money than is in your account
to avoid paying the government a reconciliation fee
Which of the following types of institutions tends to pay customers a little more interest and to charge customers a little less interest on their loans?
Local (brick and mortar) banks
Internet (online) banks
Credit unions
Cash Advance & Payday Loan companies
Which of the following types of institutions typically charges customers very high fees and interest rates (and generally gives customers a bad deal)?
Local (brick and mortar) banks
Internet (online) banks
Credit unions
Cash Advance & Payday Loan companies
What information should you have handy when filing your taxes online?
W-2 form
record of any extra money you've made on the side
routing and bank account number
birth certificate
height, weight, and shoe size
If your employer deducts more money from your paycheck than necessary each month, which of the following will be true?
you will owe the IRS money.
you should sue your employer
you will be sent to jail
you will receive a tax refund
What should you do if you don't have enough money to pay the federal taxes you owe?
see if you qualify an online payment plan that would allow you to pay off your balance over time
move to Canada before the April 18 tax deadline
change the amounts you listed for deductions and total income
hire a high-power attorney and a tax professional
the typical American just graduating from college owes __________ in student loans
$10,000-$20,000
$30,000-$40,000
$60,000-$70,000
$100,000+
Of the following budget categories, which one should you expect will be the largest?
Transportation
Groceries
Streaming services
Rent
After subtracting your regular expenses from your gross pay, what % of your income will you be most likely to have left (for saving, investing, spending on things you want, etc.)--especially in the years right after you graduate from college?
25-30%
50%
60-70%
More than 80%
Should you invest even if you don't have much money?
Yes, even while you’re still building up your emergency savings fund, you should also begin investing a little every month.
Yes, invest everything you have left after the absolutely necessary expenses.You can worry about savings later.
No-- hold off on investing until you’re at least 40 and have saved up a large amount of money.
Why do many financial advisors say you should invest in mutual funds?
they involve a little less risk than investing in individual stocks or bonds because it diversifies the investment
they guarantee a return on your investment, even if the stock market dips
they are the least risky type of investment (followed by mutual funds and savings accounts)
If someone wanted to tithe on their $100,000 a year salary, how much would they be giving their church?
$1,000
$10,000
$5,000
$50,000
Which of the following is most accurate?
You are supposed to pay the same amount of money to the IRS as everyone else in your tax bracket.
You are supposed to pay the same percentage of your paycheck to the IRS as everyone else in your tax bracket.
You make $85,000 per year and have to pay 22% in income taxes. What happens if you pay the IRS $9,000 this year?
You will be audited by the IRS.
You will receive a small refund from the IRS.
You will receive a large refund from the IRS.
A good recipe lists the ingredients in which order?
alphabetical order
by the order in which they are used in the recipe
by order of cost
From largest ingredient to smallest ingredient
A recipe should include these essentials: 1) step-by-step instructions (in order), 2) necessary equipment, 3) number of servings, and 4) _________________.
Cook time and temperature
Number of calories and fat grams per serving
Cost of purchasing the ingredients
What is the abbreviation for a tablespoon?
TSP
TBSP
TSPB
ESPN
in order to follow a recipe correctly, which step should you complete first?
Gather necessary ingredients and equipment.
Start mixing the ingredients
Read the whole recipe.
Prep ingredients that need to be chopped, diced, etc.
Which of the following ingredients should be spooned into the measuring cup (and not packed down) so that it stays "fluffy" and retains the air needed in the measurement?
Brown sugar
Salt
Flour
Flowers
When preparing food for others, you should wear disposable gloves in which of the following situations?
When you are preparing ready-to-eat foods (that will not be cooked after you handle them)
When you have an open wound that is covered it with a bandage
When you are preparing a cake batter that uses raw eggs.
When you are taking a hot pan out of the oven
Sanitizer spray must be left on the surface for _____ to reduce pathogens to a safe level.
30 seconds
1-2 minutes
5 minutes
1 hour
KITCHEN SAFETY: First-aid for a first degree burn is…
run the burned area under cold running water
Cover the burned area with a lid
Sprinkle the burned area with baking soda
Rub butter, oil, or bacon fat on the burned area
KITCHEN SAFETY: First-aid for a severely bleeding cut is…
Cover the wound with plastic wrap and gently roll it with a rolling pin
Wash the wound with warm soapy water, spray it with sanitizing solution, and allow it to air dry.
Apply direct pressure over the wound
Use a hot pad/oven mitt to handle the wound
KITCHEN SAFETY: in case of electrocution, you should _________________ before touching the person or appliance.
Put on a hairnet or tie your hair back completely
Google “electrocution”
Wash your hands with warm soapy water
Turn off the main power source (breaker box)
How should you put out a grease fire?
COVER IT with a lid, EXTINGUISH IT with a fire extinguisher, or SMOTHER IT with baking soda
SMOTHER IT with sugar, COVER IT with a towel, or DOUSE IT with a bucket of cold water
FAN IT with your apron, SMOTHER IT with baking powder, or COVER IT with a roll of paper towels
SPIT on it with your mouth, SMOTHER IT with a pillow, or INSULT IT with your words
Which of the following shows items are worn in the kitchen for the primary purpose of keeping food sanitary and helping to avoid transferring germs, hair, or skin cells to the food you are preparing?
