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Money Management&Financial Planning Unit Test
Test Description: Review game for money management and financial planning unit test in Econ/Personal finance.
Instructions: Answer all questions to get your test result.
1) The main form to apply for grants/loans for attending college in the US is the
A
FAPSA
B
FAFSA
C
FASSA
D
SAFSA
2) These help you pay for college but do not have to be repaid.
A
private student loans
B
federal student loans
C
grants and scholarships
D
PLUS loans
3) ____ means to go down in value.
A
subsidized
B
unsubsidized
C
appreciate
D
depreciate
4) A ____ is a promise to repay a loan.
A
mortgage
B
exit interview
C
balloon payment
D
promissory note
5) A ___ is a rental agreement.
A
balloon payment loan
B
lease
C
mortgage
D
none of these
6) A ____ is a house loan.
A
morgage
B
appreciation
C
depreciation
D
lease
7) A (n) _____ asset goes up in value.
A
subsidized
B
appreciating
C
unsubsidized
D
depreciating
8) The price a seller can expect to receive for a product in a competitive market is ___.
A
trade-off
B
market value
C
opportunity cost
D
earned income
9) The value of the next best alternative NOT chosen is ___.
A
trade-off
B
opportunity cost
C
potential
D
market value
10) Which of the following is NOT an example of earned income?
A
overtime
B
inheritance
C
tips
D
salary
*select an answer for all questions
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