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PFL Unit 1 Test Review

Total questions: 26

Worksheet time: 13mins

Name
Class
Date
1.

With this type of loan, the US Dept of Education pays for interest accrued while you are in school

a)

Unsubsidized Federal Direct Loan

b)

Subsidized Federal Direct Loan

2.

Application that is required for all federal financial aid

a)

1040EZ

b)

SAR

c)

FICA

d)

FAFSA

3.

The trade-off made by making one choice instead of another

a)

Personal Financial Planning

b)

Opportunity cost

c)

Values

d)

Need

4.

Position where a person receives training in a certain field by working with experienced people.

a)

Pell Grant

b)

Scholarship

c)

Work Study

d)

Internship

5.

Which of the following of financial aid needs to be paid back after completing college?

a)

Federal direct loans

b)

Institutional Aid

c)

Pell Grant

d)

Scholarships

6.

Natural abilities that people possess

a)

Hobbies

b)

Talents

c)

Aptitudes

d)

Personality

7.

A commitment to work in a field that you find interesting and fulfilling

a)

Career

b)

Job

c)

Interview

d)

Aptitude

8.

Everything in your life that involves money

a)

Opportunity cost

b)

Personal Finance

c)

Values

d)

Goals

9.

One or two page summary of your education, training, experience, and qualifications for a job

a)

Cover Letter

b)

References

c)

Resume

d)

Interview

10.

Which of the following is not one of your rights as an employee

a)

Cannot be fired because of discrimination

b)

paid time off for holidays

c)

Paid minimum wage and overtime

11.

Program where students earn money (like a paycheck) by working part time for a college

a)

FAFSA

b)

Scholarship

c)

Pell Grant

d)

Work Study

12.

Price increases or decrease in demand for goods and services that reduce career opportunities

a)

Demographic Trends

b)

Economic Trends

c)

Geographic Trends

13.

Type of college degree that usually takes 3-7 years to complete (most often 4)

a)

Master's Degree

b)

Associate's Degree

c)

Bachelor's Degree

d)

PHD

14.

Which of the following would be an example of a short term financial goal

a)

Buying a car in 2 years

b)

Saving up for a limo for Prom in April

c)

Buying a house in 7 years

15.

The purpose of the resume and cover letter are:

a)

Get connected to people in your career field

b)

Get your name known

c)

Securing a job interview

16.

College savings plan set up by individual states to help save for future education costs

a)

529 Plan (EdVest)

b)

Pell Grant

c)

Institutional Aid

d)

401K

17.

The things you want to accomplish in life

a)

Needs

b)

Goals

c)

Opportunity Cost

d)

Values

18.

Type of loan that allows parents to borrow money for their children's education

a)

Pell Grant

b)

Federal Unsubsidized Direct Loan

c)

PLUS Loan

d)

Denny's Loan

19.

Which of the following is good protocol during a job interview?

a)

Not asking questions after the interview

b)

Overdoing on your latest perfume/cologne

c)

Firm handshake

d)

Not admitting a weakness

20.

Drew has just finished writing and submitting an essay on "How music changes has positive effects on the mind" to the Association of Classical Musicians and Artists. What type of financial aid did Drew get awarded?

a)

Pell Grant

b)

Scholarship

c)

Private Loan

d)

FAFSA

21.

How has the costs of college changed in the last 20 years?

a)

Increased dramatically

b)

Decreased Dramatically

22.

If a person enjoys being outside and taking hikes may have an aptitude for a career in:

a)

Office management

b)

Teaching English

c)

Clothing Design

d)

Environmental Management/Conservation

23.

Which of the following is NOT used to calculate your financial aid package

a)

Cost of Attendance

b)

Expected Family Contribution

c)

Academic standing

24.

A populations age, gender ratio, socioeconomic status affects what type of trend?

a)

Economic Trend

b)

Demographic Trend

c)

Geographical Trend

d)

Political Trends

25.

Tech jobs in Silicon Valley and government jobs being in major cities like Washington D.C affect what type of trends?

a)

Geographical Trends

b)

Political Trends

c)

Economic Trends

d)

Demographic Trends

26.

When is the FAFSA due?

a)

January 31st

b)

September 1st

c)

Your College's selection day

d)

June 30th