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Eleventh Grade (Grade 11) Personal Finance Questions

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Grade 11 Personal Finance
                   is the granting of a loan and the creation of debt, any form of deferred payment.
  1. Consumer
  2. Credit
  3. Debt
  4. Economy
  5. Financial Literacy
  6. Interest
  7. Loan
  8. Personal Finance
Grade 11 Personal Finance
Which of the following is a consequence of overdrawing your checking account?
  1. Bounced check fee from the store
  2. Stress from money mismanagement
  3. Overdraft fee from your bank
  4. All of the above
Grade 11 Personal Finance
Which of the following best explains why students should learn about personal finance?
  1. Learning to manage money at this stage can eliminate financial mistakes and promote huge financial benefits for the future.
  2. Personal finance skills are better learned through trial and error.
  3. Personal finance skills are highly complex and require a great deal of time to learn.
  4. Learning to manage money will help you achieve a profitable career.
Grade 11 Personal Finance
Payment to the Insurance Company for coverage.
  1. Liability
  2. Claim
  3. Premium
  4. Deductible
  5. All of the Above
Grade 11 Personal Finance
What is the guideline for the maximum amount you should owe each month for loan payments
(not including a home loan payment)?
  1. 10 percent of monthly gross income
  2. 10 percent of monthly net income
  3. 20 percent of monthly gross income
  4. 20 percent of monthly net income
Grade 11 Personal Finance
Loans include the following:
  1. credit cards
  2. mortgage
  3. car payment
  4. All of the above
Grade 11 Personal Finance
Which of these can help you buy your future wants and needs?
  1. impulse buying
  2. expenses
  3. overspending
  4. savings
Grade 11 Personal Finance
Exceeding your credit limit usually results in:
  1. a higher credit score.
  2. fees and charges.
  3. a higher credit limit.
  4. a brand new card.
Grade 11 Personal Finance
Your own record of all your transactions
  1. account statement
  2. bank balance
  3. bank statement
  4. check register
Grade 11 Personal Finance
Which of the following is a consequence of spending more than you make?
  1. Missed opportunity to save and invest
  2. Stress
  3. A cycle of debt
  4. All of the above
Grade 11 Personal Finance
Damage to a car caused by vandalism or floods is covered by:
  1. Medical insurance
  2. Collision insurance
  3. Comprehensive insurance
  4. Uninsured motorist insurance
Grade 11 Personal Finance
What would be considered a short term financial goal?
  1. A car
  2. A house
  3. Retirement
  4. None of the above
Grade 11 Personal Finance
The time value of money can best be explained using which one of the following concepts?
  1. Take time to “pay yourself first.”
  2. Investments increase in risk over time.
  3. Compounding increases investments over time.
  4. A dollar today is worth more than a dollar tomorrow.
Grade 11 Personal Finance
When it comes to personal finance, the math is easy. Whatʹs challenging is managing your
  1. Income
  2. Friends
  3. Bank account
  4. Behavior
Grade 11 Personal Finance
Taxes issued by the federal, or national government, which must be paid in addition to state taxes in the United States.
  1. Federal Taxes
  2. State Taxes
  3. Social Security
  4. 401K Savings
  5. FICA
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