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Personal Finance - Semester 2 Review

Total questions: 25

Worksheet time: 36mins

Name
Class
Date
1.

What is a mortgage?

a)

A savings account for home repairs

b)

A type of insurance policy

c)

A loan to buy a home

2.

Saving money for a down payment to buy a house is usually considered a short-term goal.

a)

True

b)

False

3.

A roomate may reduce the financial burden of renting an apartment.

a)

True

b)

False

4.

The amount of money that you agree to pay toward your loan each month.

a)

Interest

b)

Final Payment

c)

Monthly Payment

5.
You must have insurance on your vehicle?
a)
true
b)
false
6.

a long term rental of a car. you need to pay monthly payments for the vehicle and it must be returned at the end of the contract.

a)

seller

b)

lease

c)

downpayment

7.

Which of the following is a responsibility of the vehicle owner?

a)

Gas and maintenance

b)

Warranty coverage

c)

Lower monthly payments

8.

What does homeowners insurance typically protect against?

a)

Rent increases

b)

Damage from fire, theft, and other covered perils

c)

Beginning mortgage delays

9.

A common moving-in cost for an apartment would be:

a)

Car insurance

b)

Real estate taxes

c)

A security deposit

10.

This is likely the biggest purchase you will ever make

a)

going on a trip

b)

buying a home

c)

renting an apartment

11.

When you rent, you will sign a __________ to protect the landlord and yourself.

a)

treaty

b)

mortgage

c)

lease

12.

Buying a new car is always better than buying a used car.

a)

True

b)

False

13.

Your purchase is $14.59.

Using the dollar up rounding technique, how much would you give the cashier?

a)

$14.49

b)

$14.00

c)

$15.00

14.

What Type of House is this?

a)

Log Cabin

b)

Mediterranean

c)

Country

15.

What housing style is this?

a)

Victorian

b)

Ranch

c)

Federal

16.

Victorian

a)
b)
c)
17.

This is the first step in planning a budget.

a)

Spend a lot of money before you budget.

b)

Prepare a checklist of your needs, wants and goals.

c)

Estimate your income for 83 days

18.

money you owe to someone else

a)

bills

b)

wants

c)

bank

19.

How much is the chicken?

a)

$0.99 a dozen

b)

$1.99 a pound

c)

$1.79 a loaf

20.

If a bottle of juice costs $5 and a sandwich costs $4, how much do both cost together?

a)

$8

b)

$9

c)

$10

21.

Sally buys a toy for $45 and a book for $23. How much did she spend in total?

a)

$68

b)

$65

c)

$70

22.

If a loaf of bread costs $2.25 and you buy 2 loaves, how much will you spend?

a)

$3.75

b)

$6.25

c)

$4.50

23.

James listed the amounts he paid for ukulele lessons for 3 months.

June: $68

July: $80

August: $147

What is the amount James paid for ukulele lessons for these 3 months?

a)

$280

b)

$305

c)

$295

24.

What is the value of the coins below?

a)

87¢

b)

97¢

c)

83¢

25.

Maria earned $1.75 for helping her mom. Which amount shows $1.75?

a)
b)
c)