Show:
1
2
3
4
5
100
Megan’s mother suggested that she was experiencing the consequences of her trade off regarding a decision she made to purchase a dress for prom. Which situation does Megan most likely find herself in for her mother to have made this comment
What is Megan had shopped at several stores when she found the prom dress of her dreams and purchased it. She used the money she had saved for the prom dress PLUS most of the money she had saved for replacing the tires on her car. Now the tires need replacing and Megan is short on the cash needed to do the job
100
Ian has been shopping for a different vehicle for the past several months. He needs something reliable and would really like something with a nice sound system. He and his parents have talked about how much he can afford and he plans to stay within the price guidelines he and his family have set. Ian was analyzing the opportunity cost of a trade‐off regarding which car to purchase. Which situation best represents what he might be thinking through
What is Ian has found two different cars at a local dealership that meet his needs. The first car has a better sound system than the other. The second car has 20,000 fewer miles on it.
100
Whitney is shopping with her mom and they are deciding on clothing to purchase. Which scenario BEST represents the purchase of a NEED
What is Whitney has been selected to attend a national leadership conference and has been instructed that she will need to dress ‘professionally’ for one of the tours. She plans to wear her new jeans and a t‐shirt that has the logo of the leadership conference on it. Her mother thinks she needs to purchase something more appropriate
100
Since Taylor was a young child she has kept her savings in a piggy bank. She likes this method of saving because she can have immediate access to the money if she needs it. Recently, in a class at school, discussion focused on why depository institutions are safer than her piggy bank. Some students’ comments were based on fact while others were based on myths. Which aspect of security at a depository institution is NOT TRUE
What is Depository institutions have insurance protection. Depositors can have multiple accounts insured at the same depository institution as long as each account has no more than $100,000
100
Sanjay is concerned about the safety of the money in his savings account. Which type of depository institution should he choose
What is He could safely choose either a commercial bank or a credit union, as long as his savings account balance meets the insurance requirements
200
Ariel is saving money to purchase a new computer before she leaves for college in two years. She wants to open a special account at a depository institution to keep her saved money safe. She has asked you for advice on which type of account would be best for her. What would be the best advice for Ariel
What is Shop around for the depository institution with the highest interest rates for their savings accounts. She would be able to make regular savings deposits and earn interest while she is saving up for the computer
200
Samantha wants to be able to use funds in her checking account but finds going to the bank to withdraw cash to be inconvenient. She would like a more effective way to access her checking account funds. What would you suggest she do
What is Apply for a debit card. That way she can use the card instead of cash to purchase the things she needs and the amount spent is immediately deducted from her account
200
Dane is researching the topic of property taxes for a presentation he is doing in his Personal Finance class. He has come across the following statements he is considering adding to his presentation. Which should he EXCLUDE from his presentation because it is not correct
What is Property taxes are assessed at the same rate for all types of property, including homes, land and building, regardless of location or whether they are used for business or personal use
200
Which statement is NOT TRUE about property taxes
What is The property tax rate is set by the federal government to be equal in every state
200
Austin has just received his first paycheck. He worked 22 hours at his new job and is being paid $8.00 per hour. He calculated that his paycheck should be $176. His paycheck amount is almost 1/3 less than he expected. What is the most likely reason that Austin’s pay is less than he expected it to be
What is Austin neglected to deduct the amount required to pay income and payroll taxes
300
Brett is creating a Statement of Financial Position and needs to list his assets. Which of the following should he NOT list as an asset
What is Money in the paycheck he will receive next week
300
Maggie earns $62,000 per year and has a net worth of $20,000. Samantha earns $96,000 and has a net worth of $15,000. Who is wealthier
What is Maggie, because her net worth is higher than Samantha’s
300
Jonah is writing down his liabilities to complete his Statement of Financial Position. The item he should include would be
What is The balance on his credit card
300
Erin and her mother are putting together an Income and Expense Statement for Erin to use as she applies for a college scholarship. Which income source does she NOT need to include for this statement
What is Taxes she paid based on her income last year
300
Andy is developing an Income and Expense Statement. He has gathered all his receipts, bank statements, paycheck stubs, and spending records. He needs to categorize them into income and expenses. He is unsure which of the following items should be recorded as expenses. Which should be recorded as expenses
What is Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
400
Amanda and Marcus just finished their Income and Expense Statement for last month. They discovered that they have a net gain. What does this mean and what should they do
What is Amanda and March are earning more money than they are spending. They could place additional money in savings and/or spend it on other expenses
400
Diana and Aaron have decided to develop a spending plan to help them gain control over their finances. Which of the following statements is NOT TRUE about spending plans
What is A spending plan includes items NOT usually included when creating a budget
400
When is your spending plan complete
What is Spending plans are always under revision so they are never complete
400
Chase has decided to work with a spending plan so he can build up an emergency fund for when he is in college. He learned in class that he could probably reduce his spending the most by looking at his non‐contractual expenses. Which of his expenses best fit that category
What is Gasoline, food, and entertainment
400
Michael wants to develop a spending plan for himself to use during his final year of high school. What will he need to do as his FIRST step
What is Track his current income and expenses. If he has already created an Income and Expense
500
Jose has been challenged by his academic advisor to ‘develop some human capital’ this school year. Which activity below would be the LEAST effective way to reach that goal
What is Spend additional time playing video games to further develop his eye‐hand coordination.
500
Lora is a high school computer and technology teacher. She enrolls in a computer class at least twice per year to stay current on recent technology changes and updates. By continuing her education, Lora is investing in her
What is human capital
500
Individuals with more formal educational training usually have
What is higher estimated lifetime earnings
500
Zoe has been assigned by her school counselor to complete a career assessment. Which statement BEST describes why her counselor has suggested she do this
What is Her counselor wants Zoe to match her skills, abilities, interests and values with a list of specific occupations
500
Career assessments help to identify
What is possible career areas related to one’s interests