Personal Finance - Unit 4 Question Preview (ID: 41456)

Unit 4. TEACHERS: click here for quick copy question ID numbers.

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) Her elderly neighbor who needs yard work done
b) Big Brothers/Big Sisters
c) An extracurricular activity in her school
d) The local private daycare center

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) family child care.
b) social capital.
c) neighborhood watch.
d) a non‐profit organization.

Which federal program assists low-income families in purchasing nutritious foods?
c) Medicare
d) Social Security

Which government program might offer assistance to help with living expenses and job training?
b) Earned income tax credit
c) Medicare
d) Unemployment insurance

Which statement is true of government assistance programs?
a) Government programs were designed to provide permanent assistance to those in need.
b) Government programs were developed to help one specific socioeconomic group.
c) All government programs vary from state to state.
d) The ultimate goal of government programs is to help individuals become self-sufficient and independent.

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) Gift income
b) Earned income
c) In‐kind income
d) In‐home income

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) small fees proportional to the income of clients.
b) taxes at the local, state, and federal levels.
c) fees that are charged to some, but not all, clients using the programs.
d) donations from large corporations.

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) Call the Social Security Administration.
b) Inquire at the local food pantry.
c) Go to on the web.
d) Contact her local bank.

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) Ivan is 60 years old and was injured at work. His employer needs to provide temporary income for him.
c) Rosie is 67 years old and in need of a health insurance program.
d) Rachel is a seventeen-year-old high school student who is pregnant and needs assistance with her medical expenses.

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) Earned income tax credit
d) Social security

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