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Personal Finance Final - Dec. 2025

Total questions: 50

Worksheet time: 6hrs 44mins

Name
Class
Date
1.

Having a(n) ________ means the amount of your liabilities is larger than the value of your assets.

a)
negative net worth
b)

positive net worth

c)

equity

d)

interest

2.

________ means having the knowledge and skills to manage your personal finances.

a)
Financial literacy
b)

budget

c)

common sense

d)

personal literacy

3.

As a(n) ________, it's up to you to make choices about what you buy and use.

a)
consumer
b)

person

c)

buyer

d)

American

4.

_______ is a fee charged for using borrowed money for a purchase,

a)
Interest
b)

Equity

c)

Term

d)

Principle

5.

Personal finance is 20% head knowledge about money. What is the other 80%?

a)

Cash in the bank

b)

Behavior

c)

Experience

d)

Relationships

6.

Living on less than you make means not...

a)

...buying a car at 16 years old.

b)

...going to college after high school.

c)

...budgeting to eat out with friends.

d)

...spending all of your money.

7.

The Five Foundations provide a simple _____ to help you win with money.

a)

action plan

b)

guide for investing

c)

suggestion

d)

educational course

8.

Taxes and withholdings impact your _________, which is the amount of money you take home on your paycheck.

a)
net income
b)

gross income

c)

intrest

d)

credit score

9.

The cost of groceries and gas is considered a(n) ________.

a)
variable expense
b)

discretionary expense

c)

fixed expense

d)

bills

10.

To budget with a(n) _________, prioritize expenses from most to least important so your most important expenses are covered first.

a)
irregular income
b)

crazy person

c)

salaried job

d)

all of these

11.

A(n) ________________ needs to be evaluated in light of your other expenses for the month.

a)
discretionary expense
b)

impulse purchase

c)

large purchase

d)

credit card purchase

12.

What's it called when you make money on the percentage of the total sales you make?

a)

Irregular income

b)

Commission

c)

Gross income

d)

Overtime

13.

What's your biggest wealth-building tool?

a)

Income

b)

Investments

c)

Savings accounts

d)

Inheritance

14.

What will tracking expenses help you do?

a)

Stick to a budget

b)

Catch errors

c)

Make adjustments

d)

All of these

15.

An investment's ______ is its percentage of gain or loss over time.

a)
rate of return
b)

term

c)

interest rate

d)

grade

16.

The price of goods and services increases over time due to ______.

a)
inflation
b)

deflation

c)

capitalism

d)

economy

17.

The initial amount of money you deposit or invest is called the _______.

a)
principal
b)

term

c)

interest

d)

loan

18.

You save for a(n) _______ when you don't have the cash to buy it now.

a)
large purchase
b)

necessary purchase

c)

negative equity

d)

all of these

19.

Which of the following would be considered an emergency fund expense?

a)

Lost cell phone

b)

Video game on sale

c)

Blown car tire

d)

Shoe sale

20.

In The Five Foundations, what is The Third Foundation?

a)

Pay cash for college.

b)

Save a $500 emergency fund.

c)

Pay cash for a car.

d)

Get our and stay out of debt.

21.

Which of the following questions helps you determine if something is actually an emergency expense?

a)

Is is urgent?

b)

Is it unexpected?

c)

Is it necessary?

d)

All of these.

22.

A(n) _____ is a number that indicates the likelihood of someone repaying debt.

a)
credit score
b)

credit report

c)

math grade

d)

all of these

23.

The amount of time you have to pay back a loan is called the _____ of the loan.

a)
term
b)

principal

c)

gross

d)

net

24.

When an item is worth less than what you owe on it, that's called _____ _____.

a)
negative equity
b)

positive equity

c)

treasure

d)

heirloom

25.

When you fail to repay a loan on time, you're referred to as being in _____.

a)
default
b)

noncompliance

c)

trouble

d)

all of these

26.

Which of these is not one of the main credit bureau reporting agencies?

a)

Identifax

b)

Equifax

c)

TransUnion

d)

Experian

27.

With a debit card, you can do everything you can do with a credit card except what?

a)

Rent a car

b)

Stay at a hotel

c)

Go into debt

d)

Fly on an airplane

28.

Which of the following is not factored into the loan payment on a new car?

a)

Term (time)

b)

Equity

c)

Interest

d)

Principal

29.

_____ _____ will often cause you to spend more than you've budgeted for a category.

a)
Impulse buying
b)

taking loans

c)

debit cards

d)

Online hackers

30.

You're a victim of _____ _____ if someone uses your card without your permission.

a)
card fraud
b)

identify theft

c)

positive equity

d)

net worth

31.

Your brain uses the _____ to process and manage stress responses.

a)
amygdala
b)

spinal cord

c)

prefrontal cortex

d)

thyroid

32.

_____ is all the ways the value of a product or service is communicated.

a)
Marketing
b)

Manipulation

c)

Mansplaning

d)

All of these

33.

What's the first thing you need to have so you can develop power over purchase?

a)

Cash

b)

Budget

c)

Credit card

d)

Mobile pay

34.

Where's the main place a young adult can find daily examples of targeted marketing?

a)

Social media

b)

Radio

c)

Television

d)

Billboards

35.

Short, entertaining ads on social media are called what?

a)

Retargeting

b)

Content marketing

c)

Snack videos

d)

Native advertising

36.

A(n) _____ is a person who starts and runs their own business.

a)
entrepreneur
b)

entrapper

c)

tycoon

d)

customer

37.

_____ _____ are personality traits that either come naturally to you or are developed over time.

a)
Soft skills
b)

Hard skills

c)

Character traits

d)

Spiritual gifts

38.

Most jobs will want a copy of your _____ before interviewing you.

a)
resume
b)

drivers license

c)

passport

d)

degree

39.

_____ _____ are things you learn in school or with special training to help in your career.

a)
Hard skills
b)

Soft skills

c)

Character traits

d)

Rules

40.

Which of these is not considered a characteristic of an entrepreneur?

a)

Risk-taker

b)

Visionary

c)

Passive

d)

Passionate

41.

Your social media posts, your style, and your speech all help to build what?

a)

Hard skills

b)

Personal brand

c)

Career

d)

Resume

42.

Which of these is considered a soft skill?

a)

Computer coding

b)

Positive attitude

c)

Cooking hamburgers

d)

GIF creation

43.

A(n) _____ _____ is also referred to as a four-year college degree or an undergraduate degree.

a)
bachelor's degree
b)

Associate's degree

c)

Scholarship

d)

Award

44.

A(n) _____ is financial aid that's based on a student's financial need and usually doesn't need to be paid back.

a)
grant
b)

loan

c)

scholarship

d)

FAFSA

45.

Any formal education after you graduate from high school is referred to as _____ _____

a)
postsecondary education
b)

torture

c)

upgraded school

d)

student loan

46.

On average, across the U.S., the _____ _____ is lower for those with a college degree.

a)
unemployment rate
b)

divorce rate

c)

success rate

d)

payment rate

47.

IF you receive financial aid that's based on your achievements, that's called:

a)

A grant

b)

Work-study

c)

A scholarship

d)

An award

48.

What will students who drop out of college have to do with their student loans?

a)

Pay them off

b)

Forget them

c)

Bankruptcy

d)

Forgive them

49.

Someone who wants to be a plumber or electrician should go to:

a)

University

b)

Military

c)

The internet

d)

A trade school

50.

When it comes to picking a college, look for one that is:

a)

Affordable

b)

Well known

c)

A big name

d)

Out of state