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100

Name this product that companies sell to increase their market value.

What is a stock?

100

Name this form used to tell employee's to report their wages.

What is the W2 form?

100

Name this payment that a lender takes to make profit from a loan.

What is interest?

100

Name this person who receives life insurance payments.

What is the beneficiary?

100

What is the % split for a budget plan?

50% Needs, 30% wants, 20% savings

200

Name this principle of a rise in stock value vs a dip in stock value.

What is bear vs bull market?

200

Name this group who rely on a taxpayer.

What is a dependent?

200

Name this vocabulary that means the original amount in a loan.

What is the principal sum?

200

Name this insurance that protects you from people without insurance (when in an accident involving a vehicle).

What is an Uninsured Motorist agreement?

200

What is the form of payment received that needs to be paid back?

loan / student loan

300

Name this tendency of the stock market over time for certain companies.

What is the market trend?

300

Name the standard sales tax rate of New York State.

What is 8 percent?

300

Now that she's got her own apartment and her first high-paying job, Rita is creating a budget. What are the two main categories that will help her form a budget? 

  1. Paycheck and taxes
  2. Insurance and investments
  3. Income and expenses
  4. Credit cards and debit cards
  • Income and expenses
300

Which action would INCREASE the money in Shirley's checking account?

  1. She uses a person-to-person app to pay a friend for dinner.
  2. She uses her debit card to buy a holiday gift.
  3. She uses her smartphone to deposit a check from her grandpa.
  4. She uses a prepaid card to pay for a month of movie streaming.
  1. She uses her smartphone to deposit a check from her grandpa.
300

If you have a part-time job as a high school student, what would be the MOST common deduction from your paycheck?

  1. Retirement savings
  2. Insurance premiums
  3. Taxes
  4. You would be too young for deductions
  • Taxes
400

what do a restaurant receipt and a checking account statement have in common?

  1. You can use both of them to see how much money you have invested in the stock market.
  2. You should review both of them closely to make sure they're accurate for how you've spent money.
  3. You have to pay a small fee in order to gain access to both of them.
  4. You will need copies of both of them when it's time to apply for colleges.

 

You should review both of them closely to make sure they're accurate for how you've spent money.

400

Name this form filed by an employee for their employer for federal income tax purposes.

What is the W4 form?

400

Name this term to fail to pay a loan.

What is defaulting?

400

Name 3 reasons people purchase health insurance.

Pay off home mortgage and other debts

To provide money for a spouse and children to maintain their lifestyle

To pay for education for children

To make charitable bequests at death

To accumulate savings

To pay inheritance and estate taxes

To provide cash value that can be borrowed later

400

Which statement best describes NEEDS vs WANTS?

  1. NEEDS are monthly bills you must pay, while WANTS are monthly bills you are excited to pay.
  2. NEEDS are required expenses you cannot avoid, while WANTS are optional items you choose to buy.
  3. NEEDS are expenses for your entire family, while WANTS are expenses for you personally.
  4. NEEDS are expenses the government pays for you, while WANTS are expenses you must pay for yourself.
  • NEEDS are required expenses you cannot avoid, while WANTS are optional items you choose to buy.
500

how does simple interest differ from compound interest?

  1. Simple interest is calculated on principal alone; compound interest is calculated on the principal as well as the interest you’ve already earned.
  2. Simple interest is calculated on the principal as well as the interest you’ve already earned; compound interest is calculated on principal alone.
  3. Simple interest offers a guaranteed return, whereas compound interest involves more risk and you are not guaranteed a return.
  4. Simple interest is earned on low risk investments such as bonds; compound interest is earned on high risk investments such as stocks.

 

Simple interest is calculated on principal alone; compound interest is calculated on the principal as well as the interest you’ve already earned.

500

Name this form used for federal tax returns and tax filing.

What is the 1040 form?

500


Which of these is a key benefit of having a high credit score? 

  1. You will have an easier time getting into a good college.
  2. You will have more money in your checking and savings accounts.
  3. You will qualify for better rates on loans or credit cards.
  4. You will earn more money from your employer.
  • You will qualify for better rates on loans or credit cards.
500

Phillip purchased a share of Microsoft. He can earn money on this investment by selling it for more than he purchased it for or through dividends. What type of investment did Phillip purchase?

Stock

500

If John deposits this entire paycheck into his checking account, how much money will go into his account?


  1. $1,524.74
600

Your friend, Marco, is excited to apply for his first summer job. However, he needs to submit a resume and is unsure of what to include. What information would you recommend he include in his resume?

  1. His parents' names and contact information
  2. His involvement in extracurricular activities & leadership roles
  3. Courses he plans to take in high school
  4. A list of his favorite websites and apps

 

  1. His involvement in extracurricular activities & leadership roles
600
  1. Donavon has an important job interview tomorrow. All of the following are ways for him to properly prepare EXCEPT...
  1. Call/email the company several times with any questions that he has before the interview
  2. Get a good night's sleep so he can arrive early to the interview
  3. Research the company
  4. Prepare and bring several copies of his resume
  • Call/email the company several times with any questions that he has before the interview
600

What is a financial benefit of obtaining a college degree?

  1. You have a higher credit score.
  2. It will be easier to be approved for loans.
  3. You will possibly have a larger amount of debt.
  4. You have higher potential lifetime earnings.
  • You have higher potential lifetime earnings.
600
  1.  Which type of financial aid must be paid back with interest?
  1. Scholarship
  2. Grant
  3. Loan
  4. Work Study
  • Loan
600
  1. If you are trying to get a loan to pay for a used car, what type of interest rate should you be looking for?
  1. You want a low interest rate so the total you pay is less.
  2. You want a high interest rate so the total you pay is less.
  3. You want compound interest, so that the value of the car grows quickly.
  4. You want a high interest rate so you can afford a fancier car.
  1. You want a low interest rate so the total you pay is less.