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40
Business
11th Grade
01/02/2014

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Term
Susan is going to obtain a loan to buy a stereo system. This is an example of which economic activity?
Definition
borrowing
Term
The Hayes family puts aside $50 every month for unexpected emergencies. When Mr. Hayes lost his job, the family was glad to have this money to pay bills until he could find a new job. This illustrates
Definition
forming the habit of saving regularly.
Term
Nancy works in a restaurant where she receives tips. Receiving tips is an example of which economic activity?
Definition
earning
Term
Which is an example of saving?
Definition
Mary put money in a bank account
Term
Which is an example of a typical income for a teen in a parenting family?
Definition
Minimum wage job
Term
Which is a variation of the typical family life cycle?
Definition
A couple have decided not to have children.
Term
Individuals who have gained more educational training are MORE LIKELY to have:
Definition
higher estimated lifetime earnings
Term
Jason has $500 in a savings account. He should list this on his balance sheet as a(n):
Definition
asset.
Term
Karen owes her grandmother $85. She should list this on her balance sheet as a(n):
Definition
liability.
Term
The Haleys calculated that it would take 30 years to double the money they invested in a retirement account. Which rule for saving and investing does this BEST illustrate?


The Haleys calculated that it would take 30 years to double the money they invested in a retirement account. Which

The Haleys calculated that it would take 30 years to double the money they invested in a retirement account. Which rule for saving and investing does this BEST illustrate?
Definition
Rule of 72
Term
Mattie is ready to begin filling out a job application form. What should Mattie do first?
Definition
Read the entire form carefully
Term
Erin has an interview for a position at an investment firm. What should Erin wear?
Definition
Conservative shoes and jewelry
Term
Don has just finished an interview with the personnel department at a local office. What should he do?
Definition
Write a thank you letter
Term
Which is a way to protect personal identity while making an online purchase?
Definition
Use a secure website
Term
Which is an example of ways thieves steal credit card numbers?
Definition
Use technology to capture credit card number from magnetic strip
Term
Jane arrived fifteen minutes early for her interview at the hospital and entered the waiting room. What should Jane do?
Definition
Introduce herself to the receptionist
Term
Sharon's salary is deposited each month on the twenty-eighth by her employer into her bank account. What form of payment for work is this?
Definition
Direct deposit
Term
Ben's receives his wages every week in a paper document showing pay deductions on the stub. What form of payment for work is this?
Definition
Weekly paycheck
Term
Kara is comparing the estimated value of the make, model, and year for three different used cars. Which type of pricing is this?
Definition
Book value
Term
Allison purchased a used car "as is" at an auction. What is MOST LIKELY true of Allison's new car?
Definition
Will not have a warranty
Term
Fred put 5% of his earnings into an interest-bearing savings account each month. For Fred, this illustrates which benefit of saving?
Definition
Can be used to earn additional income
Term
Which is an example of a typical expense for an adult in a launching family?
Definition
College tuition
Term
A career as a professional athlete involves travel during most of each playing season. This is an example of:
Definition
working conditions
Term
Which type of information found in The Occupational Outlook Handbook can be accessed through the internet?
Definition
Potential earnings for a career
Term
Rose is getting ready to fill out a job application form. What does she need in order to start?
Definition
information on past employment
Term
John is getting ready to fill out a job application form. What does he need in order to start?
Definition
permission to use people as references
Term
Ben receives a prepaid card for his salary and uses the card to get cash at an ATM machine. What form of payment for work is this?
Definition
Payroll card
Term
Danny's new employer instructed him to come by the office and complete an Employee's Withholding Allowance Certificate.What type of form is this?
Definition
W-4
Term
Janet's accountant asked her to provide a copy of her Wage and Tax Statement as soon as she receives it from her employer. What type of form is this?
Definition
W-2
Term
Lisa and Luke are preparing to move to a new city where Luke will begin a new job. Until Lisa can find employment, they need to watch their budget carefully. Which housing want or need should they consider when selecting housing?
Definition
Cost of rent and utilities
Term
The Abbots checked to be sure the apartment house laundry room was clean and functioning well before they signed a lease to rent. Which part of the rental property is being inspected?
Definition
Common areas
Term
A computer hacker transferred money from Shirley's bank account to the hacker's account. What financial transaction method was MOST LIKELY used?
Definition
Electronic funds transfer
Term
Evan warned his father not to leave his bank statements in the mailbox. What form of identity theft is he seeking to avoid?
Definition
Stealimg mail
Term
What do saving and investing have in common?
Definition
Both are good ways to prepare for later years of life.
Term
Since Gloria was laid off from her job and is having trouble paying her bills, she puts no money into savings. This is an example of which reason individuals fail to save and invest?
Definition
Inability to pay current expenses
Term
Haley just finished listing her financial goals and wants to determine her net worth. Haley needs to prepare a(n):
Definition
balance sheet.
Term
Lily ran out of cash before getting paid for each of the past three pay periods. In order to take a closer look at her recent monthly earnings and spending, Lily needs to prepare a(n):
Definition
income and expense statement
Term
Jane's landlord signed an agreement to allow her to sublet her apartment if needed. What type of document is this?
Definition
Lease waiver
Term
The Mabreys decided the price, characteristics, age, and size of home they are looking for. Which step in purchasing a home is this?
Definition
Find an appropriate home to meet your needs
Term
The Fultons sold the home in which they were currently living while the owner completed repairs to the home they would purchase. Which step in purchasing a home is this?
Definition
Meet contingencies
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