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