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Personal Finance - Unit 4
Test Description: Unit 4
Instructions: Answer all questions to get your test result.
1) Erica is an active member of the Silver Cord program at her school. Through this program, she commits to completing at least 25 hours of community service each year of high school. Her advisor has encouraged her to explore volunteering with nonprofit
A
An extracurricular activity in her school
B
Big Brothers/Big Sisters
C
Her elderly neighbor who needs yard work done
D
The local private daycare center
2) Alyssa’s childcare provider called to tell her that the provider’s young daughter woke up ill and she won’t be able to care for Alyssa’s son today. Alyssa’s friend, who is a stay‐at‐home mother, agrees to care for Alyssa’s son today so Alyssa can go
A
a non‐profit organization.
B
social capital.
C
neighborhood watch.
D
family child care.
3) Which federal program assists low-income families in purchasing nutritious foods?
A
Medicare
B
TANF
C
SNAP
D
Social Security
4) Which government program might offer assistance to help with living expenses and job training?
A
Unemployment insurance
B
TANF
C
Medicare
D
Earned income tax credit
5) Which statement is true of government assistance programs?
A
Government programs were designed to provide permanent assistance to those in need.
B
All government programs vary from state to state.
C
Government programs were developed to help one specific socioeconomic group.
D
The ultimate goal of government programs is to help individuals become self-sufficient and independent.
6) Steven is moving. his parents have told him that he can take the furniture in his bedroom and his bedding when he moves out. His parents are providing him with which type of income?
A
In‐home income
B
Earned income
C
In‐kind income
D
Gift income
7) Due to unexpected circumstances, Ariel is temporarily receiving income from a government assistance program. The funds she receives through the government program are most likely funded by:
A
donations from large corporations.
B
small fees proportional to the income of clients.
C
fees that are charged to some, but not all, clients using the programs.
D
taxes at the local, state, and federal levels.
8) Diana has faced the fact that she and her family need to explore assistance programs they might qualify for during the time she must be off work following an accident. How might she and her family locate an appropriate program?
A
Go to www.govbenefits.gov on the web.
B
Contact her local bank.
C
Call the Social Security Administration.
D
Inquire at the local food pantry.
9) Medicare is provided by the federal government for individuals in specified circumstances. In which of the situations below would the individual most likely be receiving Medicare funds?
A
Jim is a 37-year-old man who lost his job and is unable to afford health insurance for himself or his children.
B
Rachel is a seventeen-year-old high school student who is pregnant and needs assistance with her medical expenses.
C
Rosie is 67 years old and in need of a health insurance program.
D
Ivan is 60 years old and was injured at work. His employer needs to provide temporary income for him.
10) Employment opportunities for Jackie and David are limited, but they both have jobs earning just a bit more than minimum wage. Which federal program will encourage them to file a tax return by offering a financial incentive to them?
A
TANF
B
Earned income tax credit
C
SNAP
D
Social security
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