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