Consumerism Test - Monroe County Schools

Name _______________________Version AConsumerism TestMatching (1 point each)_____ Net income1. Someone who buys a good or service._____ Variable expenses2. A tangible product that is used.3. Actions provided for others._____ Fixed expenses4. Things all people deserve, no matter who they are._____ Slogan5. Things that are your job to do._____ Service6. A memorable motto or phrase._____ Consumer7. Expenses that cost the same every month._____ Goods8. Expenses that change in value every month._____ Responsibility9. The money you make before taxes are taken out._____ Gross income10. The money you bring home after taxes._____ Rights11. A comparison of your income and expenses._____ Savings account12. The least risky investment._____ Credit card13. A card issued by a bank, retail store or business that_____ Exemptionsallows the card holder to repeatedly purchase productsand services on credit._____ Budget14. Items that can be deducted from one’s total income before _____ Initial public offeringtaxes are assessed._____ Market value15. What you would get if you sold a property_____ Interest rate16. The first time a company sells shares of itself to the public _____ Capitalto raise capital._____ Sales tax17. The percentage you pay on the money you have borrowed _____ Bond18. Money_____ Assessed value19. Tax imposed by many states, counties, cities on purchases_____ Stocks20. Most risky type of investment21. The amount the property is worth determined by city or county assessors22. Loans, or I.O.U.s that investors make to corporations and governments which pay interest over afixed period of time.Short Answer (6 points each)23. List each step in the decision making process.24. What is the purpose of a company advertising?25. What is a slogan? Give an example.

Name _______________________Version A26. Jane has $1,000.00 in a savings account. It draws 2% compound interest each year. How muchmoney will she have at the end of 3 years?27. For each of the following checks, write underneath whether it is a blank endorsement, restrictiveendorsement,28. Using the following regulatory committees, fill out the regulatory pyramid.U.S. CongressIndividual brokerage firmsSecurities and Exchange Commission (SEC)NYSE and Other Self – Regulatory Organizations29. Karen, a stockbroker who works for a NYSE member firm, met her friend Janice for lunch. Thetwo friends, who graduated from college together and now live near each other, were alwayslooking for ways to make some money. Today, Janice had a hot tip. “Buy stock in Super Soda –and buy me some too – because it’s about to be taken over by a larger beverage company, FunDrinks, Inc.,” she urged. The following week the stock price soared and the two friends made afortune. Janice worked for an NYSE member firm that provided investment banking advice onthe merger. If this conversation were to be reported, what agencies would get involved?

Name _______________________Version A30. You live in a $150,000 home, with an assessed value of $105,000. The property tax rate is 1.7%.What will the property tax be for your home?31. You buy a Coke, a candy bar and a bag of chips at the local convenience store. Your total is$4.32 before tax. Once the 6% sales tax is added in, how much will you pay?Application (5 points per check)32. Using the transactions provided, fill out the checks that follow.Check # Date To Purpose Amount101 9/01 Athletic Shoe Co. Running Shoes $ 55.63102 9/06 Food Mart Groceries $ 22.36103 9/10 Federal Credit Union Cash withdrawal $ 25.00ATM 9/17 Cash $ 15.00104 9/23 Phone Calls Unlimited Phone bill $ 26.75105 9/28 Energy Plus Utility Electric bill $ 23.00John Smith 101123 Driver AvenueAnycity, Kentucky 01234Date _______________Pay to the order of ______________________________ $__________________________________________________________________________DollarsSouth Central BankFor _________________________________________________________John Smith 102123 Driver AvenueAnycity, Kentucky 01234Date _______________Pay to the order of ______________________________ $__________________________________________________________________________DollarsSouth Central BankFor _________________________________________________________

Name _______________________Version AJohn Smith 103123 Driver AvenueAnycity, Kentucky 01234Date _______________Pay to the order of ______________________________ $__________________________________________________________________________DollarsSouth Central BankFor _________________________________________________________John Smith 104123 Driver AvenueAnycity, Kentucky 01234Date _______________Pay to the order of ______________________________ $__________________________________________________________________________DollarsSouth Central BankFor _________________________________________________________John Smith 105123 Driver AvenueAnycity, Kentucky 01234Date _______________Pay to the order of ______________________________ $__________________________________________________________________________DollarsSouth Central BankFor _________________________________________________________