Life Skills-Personal Finance

1. You gave the sales clerk $10.00. The bill was $6.39. How much change should you get back? (You can use scratch paper.)

$3.61

$3.67

$4.39

$4.51

2. Which is expensive and not really necessary for most adults to own?

Bicycle

Car

Speedboat

Watch

3. Which family expense is the same every month?

Entertainment

Food

Gasoline

Rent

4. To have a co-signer for a loan means

A co-worker must sign the loan form with you.

Another person signs the loan and agrees to pay if you don't.

You sign the loan form twice.

Your boss must sign the loan form.

5. If you ask someone to figure out your income tax, you must

Can get free service if you owe the government money.

Should pay the person half of your refund.

Should thank them and pay nothing.

Will pay a fee for the service.

6. A credit union is most similar to

A bank.

A labor union.

A utility company.

An insurance company.

7. If you are several days late in paying your income tax, you must

Contact a lawyer immediately.

Go to court.

Pay a penalty.

Wait until June 15 to pay it.

8. When filling out a checking account application at a bank, you must

Deposit $150 or more.

Have your employer sign for you.

Have your parents sign for you, even if you are over 18.

Sign your own name and provide identification.

9. If one can of soda pop costs $0.65 but a six-pack costs $2.00, how much would you save by buying the six pack? (You can use scratch paper.)

$0.35

$0.65

$1.90

$3.90

10. If your debit or credit card is lost or stolen, you are liable for the purchases made.

No, you are never liable for purchases that you don't make.

Only if they also have your PIN or personal identification number.

Yes, you are liable for all purchases made.

You are liable for up to $500 of the purchases.

Life Skills-personal Finance