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PCH PF Unit1
Test Description: PCH Unit 1 Review
Instructions: Answer all questions to get your test result.
1) What is an example of a consumable good?
A
Food
B
Education
C
Car
D
House
2) What is an example of a durable good?
A
Family
B
Car
C
Food
D
Education
3) What is an example of a intangible good?
A
Food
B
Education
C
House
D
Car
4) What does the S stand for in SMART Goal
A
Special
B
Smart
C
Specific
D
Select
5) What does the M stand for in SMART Goal?
A
Measurable
B
Manageable
C
Marketable
D
Meaningful
6) What is missing from this SMART Goal? I want to save $500 for a car
A
Attainable
B
Specific
C
Realistic
D
Timely
7) Who is the Federal Reserve System (The FED)?
A
US Congress
B
The central bank for the US
C
Federal Food Reserve
D
US law enforcement
8) What is example of a service?
A
Shoes
B
Haircut
C
Clothing
D
Groceries
9) What is an example of a good
A
Babysit
B
Education
C
Mow Lawn
D
Clothing
10) Choose the account that is the most liquid
A
Savings Account
B
Certificate of Deposit (CD)
C
Stock
D
Real Estate
11) The proportion of a loan that is charged to the borrower, typically expressed as an annual percentage rate.
A
Charge
B
Loan
C
Interest
D
Prinicple
12) The ability to convert assets to cash without loss of value
A
Savings
B
Interest
C
Spending
D
Liquidity
13) Passing Personal Finance is an example of a
A
Long-term goal
B
GPA
C
Short-term goal
D
Intermediate goal
14) A sophomore planning to graduate college is an example of a
A
Long-term goal
B
Intermediate Goal
C
Short-term goal
15) What happens to the value of a dollar during inflation?
A
Goes down
B
Stays the same
C
Goes up
16) The initial amount of money you borrow or save.
A
Cash
B
Principle
C
Credit
D
Interest
17) A benefit, profit, or value of something that must be given up to acquire or achieve something else is called
A
Opportunity Cost
B
Choice
C
Exchange
D
Trade Off
18) Explains why you want the job
A
Interview
B
Resume
C
Cover letter
D
Thank you note
19) Outlines your skills and qualifications
A
Thank you note
B
Interview
C
Resume
D
Cover letter
20) If the demand for pilots increases; how will this affect the supply of unemployed pilots?
A
There will be an increase in the supply of unemployed pilots
B
There will be a decrease in supply of unemployed pilots
C
There qill be no change the the supply of unemployed pilots
D
Sales of planes will decrease
*select an answer for all questions
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