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 to work. Alyssa has utilized:
Social capital
100
Which statement is true of government assistance programs?
1. Government programs were developed to help one specific socio-economic group.
2. The ultimate goal of government programs is for individuals to become self-sufficient and independent.
3. Government programs were designed to provide permanent assistance to those in need.
4. All government programs vary from state to state.
The ultimate goal of government programs is for individuals to become self-sufficient and independent
100
Kylee’s Personal Finance class When has been discussing the importance of understanding liquidity and she is trying to explain the term to another student. Which statement is most correct description of liquidity?
how quickly and easily an asset can be converted into cash
100
Hannah needs a savings tool to help her manage her everyday purchases. The savings tool needs to be very liquid and accessible. Which of the following savings tools should Hannah choose?
Checking account
100
1.Harris is concerned about the effects of inflation on his investment returns. Which statement best describes inflation?
1. The number of times something happens to money
2. The uncertainty about the return on an investment
3. The projected value of an investment at the end of a specified time frame
4. The rise in the general level of prices
The rise in the general level of prices
200
Steven is moving into his first apartment in a few weeks and has been busy packing. In addition to the things he has purchased with money earned from his full-time job, 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 for him with which type of income:
in-kind income
200
Julie is a single mother who recently lost her job. She would like to obtain training in the medical so she can increase her future income and support her two children. In order to do this, she will need help paying some of her expenses while she is going back to school. Which government program might offer her assistance to help with living expenses and job training?
TANF
200
When taking advantage of the time value of money, which of the following is most likely to result in the largest return?
Invest as long as possible and at the highest interest rate possible.
200
Brett plans to save money toward purchasing a car. His co-worker is telling him about a Money Market Account he has that offers a tiered interest rate. What is Brett’s co-worker talking about?
The amount of money he earns depends on the balance, i.e. the higher the account balance the higher the interest rate he would earn
200
The most common relationship between risk and return in investing can be stated as:
higher risk indicates higher return
300
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 non-profit organizations. Which of the following would qualify as a non-profit?
Big Brothers/Big Sisters
300
Which federal program assists low income families in purchasing nutritious foods
SNAP
300
Compound interest is best defined as:
Earning interest on interest
300
Which of the following is a feature of a certificate of deposit (CD)?
• Funds deposited in a CD have tiered interest rates.
• Funds deposited in a CD are very liquid.
• Funds deposited in a CD can be accessed via check or debit card.
• Funds deposited in a CD are held for a certain length of time.
Funds deposited in a CD are held for a certain length of time.
300
Elliot’s stock broker is suggesting that he consider investing in a diversified portfolio. A diversified portfolio is desirable because it
decreases risk by investing money in a variety of investment tools
400
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?
Medicaid is provided by the Federal Government for individuals in specified circumstances. In which of the situations below would the individual most likely be receiving Medicaid funds?
Rachel is a seventeen year old high school student who is pregnant and needs assistance with her medical expenses.
400
Dylan is preparing a presentation about saving and the presentation rubric says that he must include an explanation of compounding interest. Which of the following statements would be the best one to include in his presentation to show that he understands compounding interest?
earning interest on interest
400
Which of the following is a feature of a money market deposit account?
• No minimum balance requirements
• Unlimited transactions every month
• The money must remain in the account for a specific period of time
• Tiered interest rates
Tiered interest rates
400
A bond is:
A type of debt that a company issues to investors for a specified period of time.
500
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?
Earned income tax credit
500
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:
taxes at the local, state, and federal levels
500
When a goal has been set to save $100.00 a month for an emergency fund of $2000.00, giving up food from the vending machine to achieve that goal is the
trade-off
500
In relation to the other options, how liquid is a savings account?
• More liquid than cash
• Less liquid than mutual funds
• More liquid than a Certificate of Deposit
• More liquid than a checking account
More liquid than a Certificate of Deposit
500
It is best to have the rate of return on an investment ______________________ than the rate of inflation.