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23
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What is a key difference between education pathways?

A
none require training
B
all lead to same jobs
C
all require degrees
D
different training leads to different opportunities
24
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An individual uses the same password for all accounts. What is the main risk?

A
Passwords become harder to remember
B
Password managers will fail
C
Accounts will lock automatically
D
All accounts could be accessed if one is breached
25

In a mixed market economy, what is a typical way the government can reduce unemployment?

A
The government can raise taxes to encourage employment.
B
The government can control new factories to provide jobs.
C
The government can create new farm fields to hire workers.
D
The government can pay for projects to create work.
26

Sebastian and Mia want to buy a home valued at 250 dollars comma 000 The property tax for this location is 1 percent Based on the current value of the home, what would their property tax be?

A
25 dollars
B
25 dollars comma 000
C
250 dollars
D
2 dollars comma 500
27

A company that makes mobile phones introduces a new, faster model that has strong consumer interest. However, the old model is still available. What will most likely happen to the price of the old model, and why?

A
The price will fall to encourage consumers to continue to purchase it.
B
The price will rise to encourage consumers to buy both models in equal amounts.
C
The price will rise to encourage the producer to make more old models.
D
The price will fall to discourage the producer from making more old models.
28

Why do higher-risk investments often have higher returns?

A
They are guaranteed
B
They are stable
C
They involve more uncertainty
D
They avoid taxes
29

Which is a desirable characteristic when choosing a line of credit?

A
rewards program
B
amount of down payment
C
annual fee
D
amount of collateral
30

Practice Assessment What is a key difference between premium and deductible?

A
both are claims
B
both are taxes
C
both are payments
D
premium is regular payment, deductible is upfront cost
31

An income is measured as

A
an amount received in a specific period: weekly, biweekly, or yearly.
B
all money received, including gifts, in the course of a year.
C
an amount spent in one week’s time.
D
all money saved during a year’s time.
32

Nathan has 300 dollars to open a checking account. He wants an account with the lowest fees. He plans on using the ATM machine, and his employer offers direct deposit. Bank Account Terms and Conditions Minimum Balance Interest Overdraft Protection ATM Fees Monthly Fee A 500 dollars 0 point 1 percent Yes 0 dollars for all ATMs 0 dollars B 250 dollars 0 percent no 0 dollars for ABC bank ATMs 5 dollars C 50 dollars 0 percent no 2 dollars per transaction 10 dollars or 0 dollars with direct deposit D 100 dollars 0 point 1 percent no 0 dollars per transaction 5 dollars or 0 dollars with direct deposit Which checking account would be best for Nathan?

A
Account B
B
Account D
C
Account A
D
Account C
33

Sean’s mother had to make an emergency purchase of a new tire because her tire went flat while she was traveling to the store. She is not sure how much money she has in her checking account. Which method of payment should she use to be financially responsible?

A
She should pay with a credit card.
B
She should pay with a check.
C
She should pay with a debit card.
D
She should pay by telephone with her debit card.
34

An annual percentage rate, or APR, represents how much

A
interest is paid over many years.
B
interest is paid over a year.
C
principal is paid over many years.
D
principal is paid over a year
35

Why is comparing only starting salary misleading?

A
Expenses do not matter
B
All careers are equal
C
Income growth over time varies
D
Salaries never change
36

Why is accurate information important?

A
Guarantees success
B
Supports informed decisions
C
Eliminates uncertainty
D
Reduces fees
37

Emma is trying to decide whether to buy a new laptop. As a student, she has a budget and wants to make sure this is the right financial decision. Which question should she ask herself in determining the opportunity cost of this purchase?

A
Do I need this laptop for my studies?
B
Can I use credit to buy this laptop?
C
Is there a less costly alternative to buying this laptop?
D
What will I have to sacrifice if I buy this laptop?
38

Which accurately describes the purpose of bankruptcy?

A
It offers debtors a fresh start and provides fair treatment to creditors.
B
It offers debtors a fresh start without any future financial ramifications.
C
It ensures people with debt are barred from borrowing more money.
D
It helps people who no longer want to pay their debts address the issue.
39

Geoff rents an apartment with a monthly rent of $850. He owns the furniture in the apartment, which is worth $3,500, and he owns his car, which is worth $6,000. Geoff has a balance of $1,225 on his credit card and has $3,560 in a savings account. Which is one of Geoff’s liabilities?

A
the credit card
B
the savings account
C
the furniture
D
the car
40

Public property is land or goods

A
used for private businesses.
B
owned by an individual.
C
used to gain personal wealth.
D
owned by the government.
41

What is a key difference between Traditional and Roth IRAs?

A
both tax-free
B
both require loans
C
both taxed the same
D
timing of taxes differs
42

Which plan best protects against large unexpected expenses?

A
Low deductible plan
B
No insurance
C
High deductible plan
D
Minimal coverage

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