2. 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 GoalsCareer/collegeBudgetingBankingCredit/Taxes 200

3. Question Answer Goals –100 QUESTION: Which is considered a NEED –Car, clothes dryer, place to sleep, lunch at a restaurant ANSWER: Place To Sleep!

4. Question Answer Goals–200 QUESTION: A value can be described as ANSWER: a belief or idea you consider important or desirable

5. Question Answer 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

6. Question Answer 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

7. Question Answer 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

8. Question Answer 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

9. Question Answer Careers–200 QUESTION: What is one of the most valuable employee benefits? ANSWER: An employer-sponsored retirement plan

10. Question Answer Career–300 QUESTION: Employee benefits typically cost an employer what percentage of your pay? ANSWER: Between 10% and 17%

11. Question Answer Career–400 QUESTION: On average, a person with a college degree earns ____ compared to a person with a high school degree ANSWER: almost double

12. Question Answer Career –500 QUESTION: Draw a venn diagram comparing a Career to a Job ANSWER:

13. Question Answer Budgeting–100 QUESTION: Give 3 examples of income ANSWER:

14. Question Answer 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

15. Question Answer 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

16. Question Answer 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)

17. Question Answer 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

18. Question Answer 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

19. Question Answer 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

20. Question Answer Banking–300 QUESTION: The maximum amount you can charge on a credit card is called ANSWER: Credit Limit

21. Question Answer 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

22. Question Answer 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

23. Question Answer 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

24. Question Answer 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

25. Question Answer 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

26. Question Answer Credit/Taxes -400 QUESTION: List the 4 C’s of Credit –ANSWER: Collateral, Capital. Capacity. Character

27. Question Answer 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.