Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Final Review Part 1
Test Description: Final Review Part 1
Instructions: Answer all questions to get your test result.
1) You signed an auto loan for $350, this is an example of:
A
Secured Credit
B
Installment Credit
C
Revolving Credit
D
Open Credit
2) You failed to pay your mortgage for 6 months and the bank foreclosed on your home. This is an example of:
A
Secured Credit
B
Installment Credit
C
Open Credit
D
Revolving Credit
3) What can you conclude about credit?
A
Having a good credit rating is not necessary.
B
There are no risks in obtaining credit.
C
Having a good credit rating is very important.
D
You will not be penalized if you don't pay bills on time.
4) Income includes all of the following EXCEPT:
A
Salary
B
Savings
C
A bonus
D
Gift from relative
5) Which is NOT a variable expense?
A
Doctor bills
B
Mortgage
C
Entertainment
D
Clothes
6) If gasoline prices doubled, what is the best way to adjust your budget?
A
Take out a loan
B
Pay less important bills
C
Sell your car
D
Cut back on your variable expenses
7) To help you set priorities for your needs, wants, and financial goals, which would be the most helpful?
A
Create and maintain a budget
B
Obtain much credit
C
Own many insurance policies
D
Create a list of stocks you want to buy
8) An example of a fixed expense is:
A
Household items
B
Groceries
C
Entertainment
D
Mortgage on a home
9) Which would earn the most from your deposit?
A
Checking Account
B
Savings Account
C
Money Market Account
D
Certificate of Deposit Account
10) You are a working high school senior and need to pay money for your expenses, which is the best method?
A
Having a Savings Account
B
Put your money in a Certificate of Deposit (CD)
C
Having a Money Market Account
D
Open a Checking Account
11) If you are looking to make a profit with the HIGHEST yield, what would you invest in?
A
Stocks
B
U.S. Treasury Bonds
C
Corporate Bonds
D
A Retirement Fund
12) Which of the following investment poses no risk to the consumer?
A
Municipal Bonds
B
Uninsured Savings Accounts
C
U.S. Treasury Bonds
D
Mutual Funds
13) Why is it important to have a good credit rating?
A
You will get a lower interest rate when getting a loan.
B
It will make it easier to pay back the loan.
C
All of the above.
D
It will be easier to get credit.
14) If you had a balance in your Checking Account of $150.00 and a check for $60.00 had not cleared, what is your true balance?
A
$90.00
B
$210.00
C
$150.00
D
$110.00
15) The difference between a Debit card and a Credit card is:
A
When you use a Credit card, the money is taken directly out of your account.
B
A Debit card, you promise to pay later. Using a Credit card, you promise to pay now.
C
When you use a Debit card, you pay for your purchases through monthly payments.
D
When purchasing something using a Debit card, money is taken directly out of your account.
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?