UNIT 1
How long does a short term goal last
less than a year
40 hours
A ____________ is a person who relies on another person, usually a family member, for financial support
Dependant
Candy bars are on special at Walmart. You get 4 candy bars for $2.75. Calculate the unit price of one candy bar.
ANSWER
$0.69 per candy bar
What is disability insurance?
It will pay you a portion of your income if you miss work due to injury
Bradley's family is saving for a trip to Disney World. They will need $5000 and plan to save over the next 4 years. How much will they need to save each month?
ANSWER
$104.17 a month
What is the term for the amount AFTER deductions are subtracted for the total money earned?
Net Pay
What is an example of unearned income?
Stocks, birthday money
Joshua had a coupon for 10% off of a pair of shoes. The shoes normally sell for $72.80. Calculate the sale price if Joshua uses the coupon.
ANSWER
$65.52
True/False: Home insurance protects a renter's belongings in the even of a fire
False
Is a water bill an example of a fixed expense, variable or periodic?
variable
Dante earns $8.00 an hour at his job. This week he worked 48 hours. What is his pay
416
What federal tax form would you fill out to report your income tax
1040ez
Kevontay bought a pair of jeans and a t-shirt which cost $75.50 without the tax added on. Calculate the sales tax for his purchase(use 6.75% for the tax).
$5.10
What is a deductible?
The amount you must pay before insurance pays their part
True or false: Using automatic draft would make since for your TV bill because it is a fixed expense
True
Your pay pays you a fixed amount for each item that you satisfactorily put together. You are being paid what type of wages?
Piece Rate Pay
What is the difference between a W2 and a W4
You fill out a W4 and your employer gives you the W2
What are 2 things that will hurt your credit score?
Late payments, Maxing our your card,
What type of coverage covers your car from hail damage?
Collision
Is saving for a house an example of a short term or long term goal
Long term
What is production rate?
The amount of product your expected to make in a given amount of time
When does your employer have to give you your W2 by?
January 31st
What are the steps to take if we will be behind on our payments?
Call The Service
Ask for partial Payment
Get Details
Send Follow up letter
Change your budget
What are the 3 types of auto insurance?
liability, collision, comprehensive