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Eleventh Grade (Grade 11) Personal Finance Questions

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Grade 11 Personal Finance
Which of the following can impact your credit score?
  1. getting a raise
  2. borrowing money from your parents
  3. a late payment on your car
  4. living with your parents to cut down on expenses
Grade 11 Personal Finance
It is legal for a potential employer to use your credit score to make a hiring decision under the
  1. The First Amendment
  2. Fair Credit Reporting Act
  3. FICA
  4. U.S.Credit Bureau
Grade 11 Personal Finance

This question is a part of a group with common instructions. View group »

A transactional deposit account that allows for deposits and withdrawals.
  1. Savings
  2. Checking
  3. Credit
  4. Business Savings
Grade 11 Personal Finance
An initial payment made when something is bought on credit.
  1. asset
  2. balloon payment
  3. down payment
  4. insurance premium
Grade 11 Personal Finance
Which of these would be considered a need?
  1. A new car
  2. Somewhere to sleep
  3. A cell phone
  4. Lunch with friends
Grade 11 Personal Finance
How is a long-term loan different from a short-term loan?
  1. A short-term loan is for a maximum duration of 12 months while a long-term loan is for a maximum duration of 12 years.
  2. A short-term loan is for a maximum duration of 12 months while a long-term loan is for a minimum duration of 12 months.
  3. A short-term loan is for a maximum duration of 12 weeks while a long-term loan is for a minimum duration of 7 years.
  4. A short-term loan is for a minimum duration of 7 months while a long-term loan is for a minimum duration of 12 months.
Grade 11 Personal Finance
The total amount of money an employee earns before tax deductions is the:
  1. net pay.
  2. gross pay.
  3. overtime pay.
  4. balance.
Grade 11 Personal Finance
Budgeting is crucial to your financial success.
  1. True
  2. False
Grade 11 Personal Finance
Money that the insured must pay before the insurance company pays.
  1. Liability
  2. Deductible
  3. Claim
  4. Premium
  5. All of the Above
Grade 11 Personal Finance
Which of the following is a sign that your identity may have been stolen?
  1. A call from a collection agency about a debt you didnʹt incur
  2. Bank and billing statements donʹt arrive on time
  3. Your credit report shows accounts you didnʹt open
  4. All of the above
Grade 11 Personal Finance
Which of the following is a reason that people donʹt save money?
  1. They lack discipline
  2. They do not live on a budget
  3. They lack focus
  4. All of the above
Grade 11 Personal Finance
A card issued by a bank that allows users to finance a purchase (buy on credit).
  1. Credit Card
  2. Debit Card
  3. Revolving Charge Account
  4. All of the above
Grade 11 Personal Finance
When shopping for a car loan, compare each loan's:
  1. APR
  2. Monthly payment
  3. Total finance charge
  4. All of the above
Grade 11 Personal Finance
Groceries are a:
  1. Fixed expense
  2. Variable expense
  3. Discretionary expense
  4. Intermittent expense
Grade 11 Personal Finance
Penelope wanted to get a better idea of how much credit she should extend. What areas should she look at?
  1. Her sales goals
  2. Number of customers she needs to attract
  3. Rent, salaries and insurance expenses
  4. How much money she wants to make
Grade 11 Personal Finance
All states have a state income tax.
  1. True
  2. False
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