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