Personal Finance Unit Test Review

Read the scenario. Yuri has $100 to spend at the store. He spots a pair of designer jeans with a $98 price tag on them but knows that he can buy three pairs of $30 jeans for about the same price. He decides to buy the $98 pair. What is Yuri's motivation behind buying the pricier pair?

Which living expense needs to be included in the budget of someone renting an apartment?

Emily is deciding whether to buy a trendy jacket just like the one her friend Yasmin has. Which question should she consider before she buys the jacket?

Which is an example of a financial change that would require budgetary consideration?

When making a major purchase, first determine your______ income by subtracting the deductions from your gross pay.

Look at the table below showing an example of a checkbook ledger. Adrienne has several receipts from recent transactions that she entered in her records. The receipts include an ATM receipt for a $60.00 withdrawal (plus a $2.00 transaction fee), a grocery store receipt for $32.50, and a $1,200 paycheck deposit slip. When she finishes entering her transactions, Adrienne realizes that her balance is incorrect. Assuming that Adrienne's beginning account balance was $320.00, why is her balance incorrect?

Which is the best question for Joe to ask himself when deciding whether to open a checking or savings account?

If having a warranty on a car is important, a person should buy a car that is.

One way to revise a budget to meet long-term goals is to_____discretionary spending.

Read the sample advertisement. Lose body fat and feel healthier with our proven supplement, Edgozene! Losing weight is easy with Edgozene! Just take two pills before each meal. You'll start to feel full and won't eat as much. No other diet pill offers what our product does, and for a limited time, if you buy now you can get two bottles of Edgozene for just $29.95! Which statement is most likely to give consumers a false sense of security about using Edgozene?

Why is compound interest preferable to simple interest?

The graph shows the percentage changes in the investment rate and the gross domestic product (GDP) between 2008 and 2012. The graph demonstrates that changes in investment

Which best describes why investing can be such a challenge?

A high-risk investment is characterized by

In which category do commodities belong?