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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
FAFSA
B
FASSA
C
FAPSA
D
SAFSA
2) These help you pay for college but do not have to be repaid.
A
PLUS loans
B
private student loans
C
grants and scholarships
D
federal student loans
3) ____ means to go down in value.
A
unsubsidized
B
subsidized
C
depreciate
D
appreciate
4) A ____ is a promise to repay a loan.
A
balloon payment
B
promissory note
C
exit interview
D
mortgage
5) A ___ is a rental agreement.
A
mortgage
B
none of these
C
lease
D
balloon payment loan
6) A ____ is a house loan.
A
morgage
B
depreciation
C
appreciation
D
lease
7) A (n) _____ asset goes up in value.
A
unsubsidized
B
subsidized
C
depreciating
D
appreciating
8) The price a seller can expect to receive for a product in a competitive market is ___.
A
trade-off
B
opportunity cost
C
market value
D
earned income
9) The value of the next best alternative NOT chosen is ___.
A
trade-off
B
market value
C
opportunity cost
D
potential
10) Which of the following is NOT an example of earned income?
A
tips
B
inheritance
C
salary
D
overtime
*select an answer for all questions
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