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- 1. Multiple Choice
Name brand items typically cost more than generic brand items.
TRUE
FALSE
- 2. Multiple Choice
If a box of ice cream bars costs $4.50 and there are 5 bars in the box, how much does each bar cost?
$0.45
$0.90
$1.50
$4.50
- 3. Multiple Choice
Insurance on a leased car is higher because:
It's not your car so you have to fix it if it gets damaged
The car dealership wants to make more money
Insurance companies expect you to get into accidents
Insurance on a leased car is NOT higher
- 4. Fill in the Blank
The 4 most important things on an amortization schedule are balance, monthly payment and:
- 5. Multiple Choice
Expenses are:
car payment
the costs required for something
net income
principle
- 6. Multiple Choice
The two parts of a loan are:
income and expense
gross and net
principle and interest
interest and taxes
- 7. Fill in the Blank
The charge for the privilege of borrowing money is:
- 8. Multiple Choice
If sales tax is 7%, how you do find the total with tax for an item that cost $500?
500 x 7
500 x 1.07
500 x .07 + 500
500 x 107
- 9. Multiple Choice
Amortize means
to pay off your credit card bill
when a car goes down in value
when a car goes up in value
to reduce debt by making regular payments
- 10. Fill in the Blank
You bought a box of of cookies for $4.80. There are 24 cookies in the box. Your sister eats 4 cookies and she wants to pay you for what she ate. How much does she owe you? No tax!
- 11. Multiple Choice
net income is
take home pay
money earned after taxes have been deducted
money earned before taxes have been deducted
only paid monthly
- 12. Fill in the Blank
If the annual gross income is $60,000, how much is the monthly gross income?
- 13. Multiple Choice
What is the serving size of a container with 100 ounces and 50 servings per container?
20 ounces
2 ounces
10 ounces
20
- 14. Multiple Choice
If the monthly gross income is $5000 and the taxes equal 20%, how much is the annual gross income?
$1,000
$4,000
$6,000
$60,000
- 15. Multiple Choice
Interest is:
the cost for borrowing money
usually displayed as APR
paid back in addition to the principle of the loan
all of the above
- Answer choicesTagsAnswer choicesTags