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End of Year Review

Total questions: 85

Worksheet time: 56mins

Name
Class
Date
1.

An account attached to a debit card

a)

Checking Account

b)

Savings Account

c)

CD Account

d)

LR Account

2.

A bank account that earns interest and has no card attached.

a)

Checking Account

b)

Savings Account

c)

CD Account

d)

LR Account

3.

A card used to make purchase on credit. “Buy now, pay later.”

a)

Checking Account

b)

Savings Account

c)

Credit Card

d)

LR Account

4.

The amount of money paid either monthly or biweekly

a)

Income

b)

Salary

c)

Hourly Pay

d)

Deposit

5.

A set amount of income paid each month

a)

Income

b)

Salary

c)

Hourly Pay

d)

Deposit

6.

A set amount of income determined on how many hours an employee works

a)

Income

b)

Salary

c)

Hourly Pay

d)

Deposit

7.

A job taking a significant amount of time in a person's life

a)

Career

b)

Credit Score

c)

Budget

d)

Interest Rate

8.

A number that indicates how well a person repays loans or other bills.

a)

Career

b)

Credit Score

c)

Budget

d)

Interest Rate

9.

An additional amount charged to a loan expressed in a percent

a)

Career

b)

Credit Score

c)

Budget

d)

Interest Rate

10.

an estimate of income and expenditures

a)

Career

b)

Credit Score

c)

Budget

d)

Interest Rate

11.

Something you desire or wish for

a)

a "want"

b)

a "need"

12.

Something you need to sustain life

a)

a "want"

b)

a "need"

13.

Food

a)

a "want"

b)

a "need"

14.

Shelter

a)

a "want"

b)

a "need"

15.

iphone

a)

a "want"

b)

a "need"

16.

New Makeup

a)

a "want"

b)

a "need"

17.

How an individual saves and spends money.

a)

Checking Account

b)

Savings Account

c)

CD Account

d)

Personal Finance

18.

To put money into an account.

a)

Career

b)

Credit Score

c)

Budget

d)

Deposit

19.

Exercise

a)

a "want"

b)

a "need"

20.

Xbox

a)

a "want"

b)

a "need"

21.
This type of interest "creates a mathematical explosion," and it can make you wealthy over time, or keep you in debt for a long time.
a)
compound
b)
sinking
c)
annual
22.
Cost of credit expressed as a yearly percentage 
a)
Mortgage
b)
Principal
c)
APR
d)
Finance company
23.
The cost of borrowed money, usually expressed as a percentage.
a)
interest
b)
savings plan
c)
scarce
d)
purchase
24.
401(k), IRA, and Roth IRA are all examples of a __________ account.
a)
Retirement
b)
College Savings
c)
Low Interest
d)
Stock
25.
What does CD stand for when talking about investments?
a)
Calculated Dividend
b)
Certificate of Deposit
c)
Central Dollar
d)
Current Deposit
26.
A mutual fund allows investments to be ___________.
a)
Secured
b)
Guaranteed
c)
Diversified
d)
Minimal
27.
This type of retirement account offered by employers to their employees allows them to set aside tax-deferred income.  Sometimes employers will even match the employee contribution up to a certain amount.
a)
mutual fund
b)
401(k)
c)
Roth IRA
d)
savings
28.
This type of schedule or table lists all payments of a loan, and tells the borrower how much of each payment goes toward the principal, as well as how much they will pay in interest over the life of the loan.
a)
delinquency
b)
amortization
c)
liquidity
29.
This term refers to the original amount of a loan OR the original amount of money invested. 
a)
Principal
b)
Interest
c)
Rebate
d)
Fixed Rate
30.
This is just a savings account with a slightly higher interest rate because the saver commits to a longer saving period for a set amount deposited.
a)
C.D.
b)
debt
c)
beneficiary
31.
This is an obligation of repayment, usually including principal plus interest; any time you owe someone money.
a)
compound interest
b)
emergency fund
c)
APR
d)
debt
32.
The first step of financial freedom;
$500 for teens; $1,000 for adults
a)
mutual fund
b)
emergency fund
c)
sinking fund
33.
The availability of money; how quickly you can convert it into cash in your hand is its _______.
a)
diversity
b)
liquidity
c)
yield
d)
gratuity
34.

The more liquid an investment, the more likely it is to have a higher rate of return.

a)

True

b)

False

35.
Term that applies to the ability to buy something now and pay for it later over a period of time (usually with having to pay a finance charge and/or the addition of interest). 
a)
Savings
b)
Profit
c)
Budgeting
d)
Credit
36.

What is a credit score?

a)

a three-digit score that tells lenders how much money you make each year.

b)

A five-digit numerical rating that reflects how likely you are to repay your debt.

c)

A three-digit numerical rating that reflects how likely you are to repay your debt.

d)

A credit score is a five-digit numerical rating that reflects how likely you are to fail at paying your debts

37.

Which of these terms could be used to describe debt in the form of a mortgage or car loan? (Choose all that apply.)

a)

secured

b)

unsecured

c)

revolving

d)

installment

38.

Student loans can be subsidized (by the government) or unsubsidized, and cannot be discharged with bankruptcy.

a)

true

b)

false

39.

Which budget item will most likely take up the largest percentage of your income at 25-30%?

a)

transportation

b)

housing

c)

groceries

d)

saving/investing

40.

A financial product purchased by many people facing a similar risk to protect against the risk of larger losses

a)

Premium

b)

Policy

c)

Insurance

d)

Risk

e)

Deductible

41.

The money paid to an insurance company to purchase a policy

a)

Premium

b)

Policy

c)

Insurance

d)

Risk

e)

Deductible

42.

The chance of loss from an event that cannot be entirely

controlled

a)

Premium

b)

Policy

c)

Insurance

d)

Risk

e)

Deductible

43.

The out‐of‐pocket money paid by the policyholder before an

insurance company will cover the remaining costs attributed to the loss

a)

Premium

b)

Policy

c)

Insurance

d)

Risk

e)

Deductible

44.

A contract between the insurance company and the insured

that states the exact terms of the policy including what risks are covered and how much will be paid for any losses

a)

Premium

b)

Policy

c)

Insurance

d)

Risk

e)

Deductible

45.

Which is the correct type of insurance that would be used: David’s mother is killed in an automobile accident. What type of insurance would provide his family financial support to cover the paid and unpaid work his mother performed?

a)

Property and liability

b)

Health

c)

Life

d)

Disability

e)

Workers’ compensation

46.

Which is the correct type of insurance that would be used: Sally is not feeling well so her mother takes her to the doctor. The doctor tells her she has strep throat, gives her medication, and sends her home to recover. What type of insurance would be used in this case?

a)

Property and liability

b)

Health

c)

Life

d)

Disability

e)

Workers’ compensation

47.

Which is the correct type of insurance that would be used: Joey’s father is in a car accident and cannot work. What type of insurance replaces his father’s earnings?

a)

Property and liability

b)

Health

c)

Life

d)

Disability

e)

Workers’ compensation

48.

Liability insurance covers accidental harm that may be caused to other people or property.

a)

True

b)

False

49.

A beneficiary is the individual who takes out the life insurance policy.

a)

True

b)

False

50.

The purpose of insurance is to make you financially better off than you were before the event occurred.

a)

True

b)

False

51.
Budgeting is crucial to your financial success.
a)
True
b)
False
52.

If an expense can NOT be removed from your budget to save money, it is considered a _____.

a)

Income

b)

Want

c)

Need

d)

Savings

53.
Preparing a budget includes
a)
Income, Expenses, Saving
b)
Only listing your expenses
c)
Only listing your debts
d)
Only listing your income
54.
Examples of Fixed Expenses include:
a)
Mortgage, loans, rent
b)
Cable, entertainment, food
c)
Gas, food, phone
d)
Clothing, gas, food
55.

Which one is a fixed (same amount, same time) payment?

a)

food

b)

power

c)

mortgage

d)

petrol

56.
Car Payment
a)
Fixed Expense
b)
Variable Expense
57.

Fixed or variable expense: Groceries

a)

Fixed

b)

Variable

58.

Fixed or variable expense: Rent?

a)

Fixed

b)

Variable

59.
Utilities
a)
Fixed Expenses
b)
Variable Expenses
60.
Gas
a)
Fixed Expense
b)
Variable Expense
61.
Car Insurance
a)
Fixed Expense
b)
Variable Expense
62.
Entertainment
a)
Fixed Expense
b)
Variable Expense
63.
Dining Out
a)
Fixed Expense
b)
Variable Expense
64.
Homeowner's Insurance
a)
Fixed Expense
b)
Variable Expense
65.
Clothing
a)
Fixed Expense
b)
Variable Expense
66.
Electricity is an example of a ______ expense
a)
fixed
b)
variable
67.
Car insurance is a ____________ expense
a)
fixed
b)
variable
68.
A vacation is an example of a _________
a)
need
b)
want
69.
Medical care is an example of a ______
a)
Need 
b)
Want
70.

Media balance includes activities that involve:

a)

Different types of digital media.

b)

Different types of media.

c)

Different types of non-media activities.

d)

All of the above.

71.

When you go on the internet, what is an example of a responsibility you have to your community?

a)

Ask permission before posting a photo of someone.

b)

Pick up litter.

c)

Don't share passwords to your accounts.

72.

True or false? Things you post online, like a selfie, can affect your identity.

a)

True

b)

False

73.

Which of the following situations is an example of oversharing?

a)

Abby submits her poem to an online poetry contest.

b)

John streams live video of his piano recital.

c)

Denise posts a photo of herself making a rude gesture.

d)

Carla uploads a slide show of her paintings.

74.
What is an example of an online community?
a)
Football Team
b)
Chess Club
c)
Minecraft Team
d)
Girl Scouts
75.

What is a citizen?

a)

A person who votes

b)

Anyone who lives in a city

c)

A person who is an active member of a community.

d)

A person who lives in an urban area and practices Buddhism

76.

your academic/professional image is

a)

public, formal, and usually work-related

b)

informal, and social, and oriented toward entertainment

c)

a record you leave online

d)

not important if you are under 13

77.

Using a person’s name when you respond to his or her postings creates a friendly tone online. Use each other's name. Is an example of which Online Digital Citizenship Article?

a)

Dos and Don’ts of Student Communication Online

b)

Online Student Code of Conduct Agreement

c)

Avoid Mechanical Missteps in Online Conversation

d)

Say Something Substantial

78.
What is a digital footprint?
a)
an impression left by your foot on a soft surface
b)
information people share about you in books, newspapers, and magazines
c)
a trail of information you leave about yourself online
d)
a picture you create online
79.
What does the word reputation mean?
a)
It means a company or brand that is well known.
b)
It means the opinion (what people think) about someone or something based upon their words and actions.
c)
It means what people want to do in life.
80.
Everything that is posted online is saved for how long?
a)
Until I remove it
b)
Forever
c)
Two weeks
d)
One year
81.

How do you keep a positive digital footprint?

a)

Don't overshare

b)

Use privacy settings

c)

Only post things that you would want everyone to see

d)

All of the above

82.
True or False?  
Companies track what you search for.
a)
True
b)
False
83.

It is true that an anonymous online posts/comments can _________ be traced back to the author.

a)

Always

b)

Sometimes

c)

Never

84.

Posting something mean about someone, you can just delete it and everything will be OK.

a)

True

b)

False

85.
True or False?  
Anything you do online leaves a permanent record.
a)
True
b)
False

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