WorksheetsAVID EVER FI Budget
Total questions: 37
Worksheet time: 56mins
What does the "O" in WICOR stand for?
Opening
Ordinance
Optional
Organization
When Jennifer forgot a step in her math work, the group members told her where she went wrong.
True
False
How often does the tutor ask questions of the student presenter?
At least five times
About as often as the student group members
The tutor should not ask questions.
Between two to six times
When should you pay off your credit card?
Never
When You Feel Like It
End of the Month
New Years Resolution
How old do you need to be to own a credit card?
30
50
25
18
520 is considered a very good credit score.
true
false
What is an interest rate?
it is your level of interest about a certain topic expressed as a percentage of your total interest
The amount in terms of dollars that you have to pay back on a purchase
it is the rate at which your interest in something expires. The higher the number, the quicker your interest expires
The amount in terms of a rate or percentage that you have to pay back on an amount borrowed
The process of collecting funds that are owed and past due is called...
gathering
dollar collecting
overdrafting
collections
You can help getting approved for a loan by using a
Helper
Co-Signer
Credit card
FICO Score
What is opportunity cost?
the value of the next best option that is not selected when a choice is made.
there is not enough of it.
things people make to earn money.
actions people do to earn money.
Michael has been invited by a friend to go fishing on Friday. His parents are going to a concert. Michael chooses to go fishing with his friend. What is his opportunity cost?
fishing with a friend
going to a concert
Andrea has planned a trip to the beach for her family on Labor Day. Her daughter has been invited to the mountains by a friend. Her daughter decides to go to the beach. What is her opportunity cost?
a trip to the beach
a trip to the mountains
Jason has been asked by his son to go ride 4-wheelers this weekend. His boss has asked him to work overtime and get paid double. Jason chooses to go ride 4-wheelers with his son. What is his opportunity cost?
ride 4-wheelers with his son
work overtime for his boss
The opportunity cost of a good is
its price in dollars and cents.
the alternative goods forgone.
the price of alternative goods foregone.
none of the other options
Tom was shopping for a car. He has looked at a Ford, Honda, Toyota, and Dodge. After a lot of debate, he narrowed it down to either the Ford or the Honda. He selected the Ford, because he liked the interior a little better. What was his opportunity cost?
Ford
Honda
Toyota
Dodge
What is it called if we ran out of coffee creamer?
Scarcity
Opportunity Cost
Producer
Services
The income of an adult is the money they get for working. The income of a child could be ____________. Check all that apply.
an allowance (money your parents give you weekly or for chores)
the money your friends or family give you as gifts
fake monopoly money (toy)
Which item would most likely require savings?
soccer ball
a new refrigerator
a movie ticket
a box of cookies
Which of the following statements about saving money is false?
People only save money to build wealth.
Bank accounts are very safe.
It is easy to withdraw money from your bank account.
Most saving accounts pay a small amount of interest.
Which of these are fixed expenses?
Car insurance
Starbucks
Rack Room
Cell Phone
Which of these would be mandatory expenses?
Rent
Car Insurance
Unlimited Data on phone
Tanning salon
Tricia makes $9.00 an hour and works 40 hours a week. How much money does she earn in a year.
$360
$4,320
$18,720
$17,280
Tricia makes $9.00 an hour and works 40 hours a week. She pays 27.5% in taxes. What is Tricia’s yearly take-home pay?
$23,868
$18,720
$5,148
$13,572
Choose the best answer.
F
G
H
J
Which of the following is generally the most expensive category in a person’s budget?
Healthcare
Clothing
Transportation
Housing
Want or Need?
