personal finance final jeopardy 100 200 300 400 500 100 300 400 500 100 200 300 400 500 100 200 300...

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Question Answer Personal Finance Final Jeopardy 100 200 300 400 500 100 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 Goals Career/ college Budgeting Banking Credit/ Taxes 200

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Personal Finance Final Jeopardy

100

200

300

400

500

100

300

400

500

100

200

300

400

500

100

200

300

400

500

100

200

300

400

500

Goals Career/college Budgeting Banking Credit/Taxes

200

QuestionAnswer

Goals –100

• QUESTION: Which is considered a NEED– Car, clothes dryer, place to sleep, lunch at a

restaurant

• ANSWER: Place To Sleep!

QuestionAnswer

Goals–200

• QUESTION: A value can be described as

• ANSWER: a belief or idea you consider important or desirable

QuestionAnswer

Goals–300

• QUESTION: Lisa will buy two new car tires three months from now before taking a trip. Each tire costs $75. How long will she need to plan to achieve her goal?

• ANSWER: Short Term Goal

QuestionAnswer

Goals –400 • QUESTION: When making a SMART goal

you want your goal to be• S-• M-• A-• R-• T-• ANSWER: Specific, Measurable, Attainable,

Realistic and Time Bound

QuestionAnswer

Goals –500 • QUESTION: Put the following steps on a financial plan in

the correct order

•  _____Establish your criteria• _____Consider the pros and cons• _____Make your decision• _____Identify your goal-1• _____Evaluate your results• _____Examine your options

• ANSWER: 2, 4, 5, 1, 6, 3

QuestionAnswer

• QUESTION: {true or false}– When you finally get the job of your dreams,

you can expect to have that job the rest of your life.

• ANSWER: False

College–100

QuestionAnswer

Careers–200

• QUESTION: What is one of the most valuable employee benefits?

• ANSWER: An employer-sponsored retirement plan

QuestionAnswer

Career–300

• QUESTION: Employee benefits typically cost an employer what percentage of your pay?

• ANSWER: Between 10% and 17%

QuestionAnswer

Career–400

• QUESTION: On average, a person with a college degree earns ____ compared to a person with a high school degree

• ANSWER: almost double

QuestionAnswer

Career –500

• QUESTION: Draw a venn diagram comparing a Career to a Job

• • ANSWER:

QuestionAnswer

Budgeting–100

• QUESTION: Give 3 examples of income

• ANSWER:

QuestionAnswer

Budgeting–200

• QUESTION: An amount of money spent to buy something or do something that is the exact same amount every time is know as a

• ANSWER: Fixed expense

QuestionAnswer

Budgeting–300

• QUESTION: Money taken out of a paycheck by an employer to pay for taxes, health insurance, and other payments is know as

• ANSWER: Payroll deductions

QuestionAnswer

Budgeting –400

• QUESTION: What is the purpose of Form W-2?

• ANSWER: To itemize how much money was earned by an employee and how much was withheld and sent to the Internal Revenue Service (IRS)

QuestionAnswer

Budgeting –500

• QUESTION: What is the purpose of Form W-4?

• ANSWER: To allow the employer to withhold federal income taxes from an employee’s wages

QuestionAnswer

Banking–100

• QUESTION: {true or false} Using a credit card for purchases is a low-interest way to buy now and pay later

• ANSWER: True

QuestionAnswer

Banking–200

• QUESTION: {true or false}When you use a debit card, you give your bank permission to immediately remove money from your checking account.

• ANSWER: True

QuestionAnswer

Banking–300

• QUESTION: The maximum amount you can charge on a credit card is called

• ANSWER: Credit Limit

QuestionAnswer

Banking–400

• QUESTION: A financial institution that is owned by it’s members that provides savings and checking accounts and other services to its membership at low fees.

• ANSWER: Credit Union

QuestionAnswer

Banking–500

• QUESTION: If you “bounce” a check when you make a purchase at a clothing store, what could happen?

• ANSWER: you can get charged by the store, and your bank and your credit score is lowered

QuestionAnswer

Credit/Taxes-100

• QUESTION: {true or false} If you pay off your full balance on a credit card at the end of the month, you will not be charged interest.

• ANSWER: true

QuestionAnswer

Credit/Taxes-200

• QUESTION: A rating used by credit reporting companies to help lenders decide whether and/or how much credit can be extended to a borrower

• ANSWER: Credit Score

QuestionAnswer

Credit/Taxes-300

• QUESTION: If you are under-age or you do not have the qualifications for credit, you have an option to still obtain credit if you have a

• ANSWER: Co-Signer

QuestionAnswer

Credit/Taxes -400

• QUESTION: List the 4 C’s of Credit

– ANSWER: Collateral, Capital. Capacity. Character

QuestionAnswer

Credit/Taxes -500

• QUESTION: What is a progressive tax?

• ANSWER: A tax that takes a larger percentage of income from high-income groups than from low-income groups.