Answer the following questions to find out. After you explore this Web site,
retake the quiz to see what you’ve learned. |
| For each question below, click on the correct response. |
| 1. When you look for a job, you: |
A. Ask family and friends about job openings
B. Ask three people if you can use them as references
C. Write a resume
D. All of the above
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| 2. You think you would like to be a veterinarian. You: |
A. Get an internship at your uncle’s business
B. Volunteer at a veterinary office
C. Find a job at a local restaurant
D. None of the above
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| 3. Which statement is true? |
A. The more time you have to save, the more money you will have.
B. The higher the rate of interest you earn on savings, the less money you will have because of taxes.
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| 4. When you pay yourself first, you: |
A. Have more to spend
B. Can’t pay your bills
C. Put part of your money into savings before you spend any
D. Go into debt
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| 5. When making spending decisions, you should: |
A. Buy what you want first
B. Buy what you need first
C. Both A and B
D. Neither A nor B
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| 6. To spend smart, you should: |
A. Keep most of your money in the bank instead of your wallet
B. Compare prices at three places before buying anything
C. Get good grades in school to lower your car insurance costs
D. All of the above
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| 7. To keep track of how much you spend, you should: |
A. Write down in a small notebook how much you spend on everything you buy
B. Make a spending plan (also called a budget)
C. Neither A nor B
D. Both A and B
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| 8. When you shop for a bank: |
A. Look for a bank that is insured by the federal government
B. Don’t expect the banker to talk to you in person
C. Choose a bank that costs more because the quality will be better
D. Choose a bank that gives gifts for opening an account
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| 9. The difference between a credit card and a debit card is: |
A. You pay interest on a debit card
B. You use a credit card like a “plastic check”
C. When you use a debit card, the money is deducted from your checking account immediately
D. When you use a credit card, the money is deducted from your savings account immediately
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| 10. To keep your financial information private: |
A. Only use the Internet for your financial transactions
B. Shred papers with important information on them before throwing them in the trash
C. Give your Social Security number to phone solicitors instead of your phone number
D. Put your bill payments outside your house for the mail carrier to pick up
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| 11. When you have a checking account: |
A. You will automatically earn interest on your savings account
B. You are charged at least $15 for every check you write
C. Your money is safer than using a check-cashing store or money orders
D. Your bank will automatically send you a credit card
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| 12. An example of “good” debt is: |
A. Loan for a sports car
B. Loan for prom
C. Loan for a vacation
D. Loan for college
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| 13. When you have a credit card, you should: |
A. Only pay the minimum amount due
B. Pay the bill late so you’ll owe less interest
C. Pay off the entire balance due every month
D. Use it for fun purchases, not for emergencies
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| 14. Teens who go to college generally: |
A. Earn less during their lifetimes than teens who start working right away
B. Earn more during their lifetimes than teens who start working right away
C. Are in debt for 30 years or longer
D. Pay money to get scholarships
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| 15. To get help paying for college, you must: |
A. Complete a FAFSA form with your parents’ help
B. Wait until you graduate from high school before looking for financial aid
C. Apply for financial aid without your parents
D. Ask your high school for a college loan
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| 16. A two-year public community college is: |
A. More expensive than a four-year private college
B. More expensive than a four-year public university
C. Less expensive than a four-year public university
D. Only for students who are learning a trade
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| 17. Which statement is true: |
A. The best way to find a scholarship is to pay a search firm to look for one.
B. Look for a student loan that has the lowest interest rate and doesn’t require you to start repaying it until you graduate from college.
C. Avoid work-study programs because your grades will go down.
D. Only take AP classes if you plan to go to a private college.
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| 18. High school students who are accepted into college: |
A. Frequently need financial aid to pay for college
B. Take a college entrance test such as the ACT or SAT
C. Don’t always have great grades in high school
D. All of the above
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| 19. To reach a financial goal: |
A. Figure out how much you need to save each week to reach your goal
B. Don’t think about the cost because you’ll get too discouraged
C. Only strive for goals that don’t cost much money
D. Make sure you can reach the goal in less than one year
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| 20. Which statement is true? |
A. Net worth equals self-worth.
B. Net worth is the sum of your assets plus your liabilities.
C. Self-worth is a combination of qualities and values that make you who you are.
D. Net worth is more important than self-worth.
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ANSWERS:
1. D; 2. B; 3. A; 4. C; 5. B; 6. D; 7. D; 8. A; 9. C; 10. B;
11. C; 12. D; 13. C; 14. B; 15. A; 16. C; 17. B; 18. D; 19. A; 20. C
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