Financial Literacy Pre-Test: HIGH SCHOOL - Infusionomics

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8. In the context of renting an apartment, what is a “security deposit”?9. Name two (2) benefits of using a budget.1.2.10. Which of the following are fixed expenses? Circle all that apply.a. rentb. foodc. car paymentd. electric bille. credit card bill11. <strong>Pre</strong>tend it is April 25, 2011. Using the blank check image below, write out a check to theABC Property Management Company for $850. This is for your May 2011 rent.12. Which of the following factors affect the amount of rent that will be charged for anapartment?a. The apartment’s size and number of bathroomsb. The apartment’s locationc. Whether or not the apartment has a washer & dryerd. All of the above2
13. Why do some people use paycheck‐cashing stores? (list at least one common reason)You’re reading through newspaper ads looking for an apartment to rent. What do the followingabbreviations mean? Write in your answers.14. w/d __________________15. furn ___________________________16. List two strategies a person can take to avoid indebtedness.Match the following terms to their correct definitions from the list at the right. For each term,indicate the letter (a, b, c, d, etc.) corresponding to the definition and write that letter in theblank next to the term.17. WITHDRAWAL ____ a. 30% of your gross income18. “AFFORDABLE” HOUSING COST ____ b. another word for a “bounced”check19. OVER THE LIMIT FEE ___c. To take money out of a bankaccount20. OVERDRAFT ___d. Fee imposed when you charge21. LIQUIDITY ___ more on your credit card than yourallowable credit linee. the ease with which aninvestment can be turned into cash22. If someone gave you $50 right now, how likely is it that you would save at least 25% of it(i.e., at least $ 12.50)? Circle only one response.a. highly likelyb. a little bit likelyc. not very likely23. Imagine yourself at age 25, with a job and an apartment. How likely it is that you will goahead and start saving for retirement? Circle only one response.3
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Financial Literacy Pre-Test: HIGH SCHOOL - Infusionomics

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