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QR Challenge: PERSONAL FINANCE FINAL EXAM PRACTICEC

Created using the ClassTools QR Treasure Hunt Generator

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Teacher Notes

A. Prior to the lesson:

1. Arrange students into groups. Each group needs at least ONE person who has a mobile device.

2. If their phone camera doesn't automatically detect and decode QR codes, ask students to

3. Print out the QR codes.

4. Cut them out and place them around your class / school.

B. The lesson:

1. Give each group a clipboard and a piece of paper so they can write down the decoded questions and their answers to them.

2. Explain to the students that the codes are hidden around the school. Each team will get ONE point for each question they correctly decode and copy down onto their sheet, and a further TWO points if they can then provide the correct answer and write this down underneath the question.

3. Away they go! The winner is the first team to return with the most correct answers in the time available. This could be within a lesson, or during a lunchbreak, or even over several days!

C. TIPS / OTHER IDEAS

4. A detailed case study in how to set up a successful QR Scavenger Hunt using this tool can be found here.

Questions / Answers (teacher reference)

Question

Answer

1. If you own 50 shares of stock that you purchased for $40 a share, and the price increases to $70 per share, your profit is$1,500
2. An overdue payment is calledDelinquency
3. The primary reason for insurance is toTransfer risk
4. In order to effectively manage money, you need abudget
5. What is the difference between gross pay and net pay?Gross pay is before taxes, net pay is after taxes
6. What is a good age for kids to open their first checking account?13-15 years old
7. If you have caused an accident, which type of automobile insurance would cover damage to your own car?liability
8. Matt and Eric are young men. Each has a good credit history. They work at the same company and make approximately the same salary. Matt has borrowed $6,000 to take a foreign vacation. Eric has borrowed $6,000 to buy a car. Who is likely to pay the lowest finance charge?Eric will pay less because the car is collateral for the loan.
9. If you went to college and earned a 4-year degree, how much more money could you expect to earn than if you only had a high school diploma?About 10 times as much.
10. Use the Rule of 72 to calculate how long it will take for your money to double if it’s earning 6% in interest?12 years
11. Which type of bank account typically offers no interest?checking
12. What is the general, common name for your credit score?FICO
13. The form filed by students to receive federal financial aid for school is known as?FAFSA
14. Which form is your employer required to send to you before you file your tax return?W-2
15. What is the deadline to file your taxes?April 15
16. Who do you file your taxes each year?IRS
17. Where is the central bank of the United States located?Washington, DC
18. How many Federal Reserve Districts are in existence?12
19. What are the 3 types of bankruptcy?Business, Farmers, and Consumers
20. Who are the three credit reporting agencies?TransUnion, Equifax, and Experian
21. If you are 17 right now, what is the best age to begin investing?17
22. When the landlord and tenant agree on a no–lease agreement this means that the tenant is responsible for the property?month-to-month
23. The three places to learn the general health of the economy are?The Dow Jones Industrial Average, Standard & Poor’s 500 Composite Index, and the National Association of Security Dealers Automated Quotations
24. Most Americans are covered by health insurance because?It is offered to them by their employer
25. A customer is protected against loss at a financial institution if it insured by the?FDIC, SAIF, or NCUA
26. A vehicle is considered a “lemon” if?The defect remains unfixed after four repair attempts
27. An advantage of using credit is?Not having to carry large amounts of cash
28. A well written financial goal includes the following elements?Specific, measurable, attainable, realistic, and time bound
29. Basic wealth protection, wealth accumulation, and wealth distribution are the three stages of?An individual’s financial life cycle
30. What is the relationship between risk and return?The higher the possible return, the higher the risk
31. The higher the possible return, the higher the risk?Create a financial plan to save up for the down payment and other housing costs; this probably means cutting current expenses to save money
32. According to the time value of money, the power of time benefits an individual because?Money paid out or received in the future is not equivalent to money paid out or received today.
33. The steps to a spending plan process include?Setting financial goals, organizing, deciding, implementing, controlling, and evaluating
34. True or False An income and expense statement lists all monetary transactions during a specific time period.True
35. Above the Rest, a sporting goods company, was founded in 1915. It is a nationally recognized company with a consistent record of quality products, reasonable prices, good management, great customer service, pays dividends, and has a long record of profits. What type of common stock is Above the Rest?Blue chip stock

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=If_you_own_50_shares_of_stock_that_you_purchased_for_$40_a_share,_and_the_price_increases_to_$70_per_share,_your_profit_is

Question 1 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=An_overdue_payment_is_called

Question 2 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=The_primary_reason_for_insurance_is_to

Question 3 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=In_order_to_effectively_manage_money,_you_need_a

Question 4 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=What_is_the_difference_between_gross_pay_and_net_pay?

Question 5 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=What_is_a_good_age_for_kids_to_open_their_first_checking_account?

Question 6 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=If_you_have_caused_an_accident,_which_type_of_automobile_insurance_would_cover_damage_to_your_own_car?

Question 7 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=Matt_and_Eric_are_young_men._Each_has_a_good_credit_history._They_work_at_the_same_company_and_make_approximately_the_same_salary._Matt_has_borrowed_$6,000_to_take_a_foreign_vacation._Eric_has_borrowed_$6,000_to_buy_a_car._Who_is_likely_to_pay_the_lowest_finance_charge?

Question 8 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=If_you_went_to_college_and_earned_a_4-year_degree,_how_much_more_money_could_you_expect_to_earn_than_if_you_only_had_a_high_school_diploma?

Question 9 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=Use_the_Rule_of_72_to_calculate_how_long_it_will_take_for_your_money_to_double_if_it’s_earning_6%_in_interest?

Question 10 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=Which_type_of_bank_account_typically_offers_no_interest?

Question 11 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=What_is_the_general,_common_name_for_your_credit_score?

Question 12 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=The_form_filed_by_students_to_receive_federal_financial_aid_for_school_is_known_as?

Question 13 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=Which_form_is_your_employer_required_to_send_to_you_before_you_file_your_tax_return?

Question 14 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=What_is_the_deadline_to_file_your_taxes?

Question 15 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=Who_do_you_file_your_taxes_each_year?

Question 16 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=Where_is_the_central_bank_of_the_United_States_located?

Question 17 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=How_many_Federal_Reserve_Districts_are_in_existence?

Question 18 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=What_are_the_3_types_of_bankruptcy?

Question 19 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=Who_are_the_three_credit_reporting_agencies?

Question 20 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=If_you_are_17_right_now,_what_is_the_best_age_to_begin_investing?

Question 21 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=When_the_landlord_and_tenant_agree_on_a_no–lease_agreement_this_means_that_the_tenant_is_responsible_for_the_property?

Question 22 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=The_three_places_to_learn_the_general_health_of_the_economy_are?

Question 23 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=Most_Americans_are_covered_by_health_insurance_because?

Question 24 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=A_customer_is_protected_against_loss_at_a_financial_institution_if_it_insured_by_the?

Question 25 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=A_vehicle_is_considered_a_“lemon”_if?

Question 26 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=An_advantage_of_using_credit_is?

Question 27 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=A_well_written_financial_goal_includes_the_following_elements?

Question 28 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=Basic_wealth_protection,_wealth_accumulation,_and_wealth_distribution_are_the_three_stages_of?

Question 29 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=What_is_the_relationship_between_risk_and_return?

Question 30 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=The_higher_the_possible_return,_the_higher_the_risk?

Question 31 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=According_to_the_time_value_of_money,_the_power_of_time_benefits_an_individual_because?

Question 32 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=The_steps_to_a_spending_plan_process_include?

Question 33 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=True_or_False_An_income_and_expense_statement_lists_all_monetary_transactions_during_a_specific_time_period.

Question 34 (of 35)

 


PERSONAL FINANCE FINAL EXAM PRACTICEC: QR Challenge

https://www.classtools.net/QR/decode.php?text=Above_the_Rest,_a_sporting_goods_company,_was_founded_in_1915._It_is_a_nationally_recognized_company_with_a_consistent_record_of_quality_products,_reasonable_prices,_good_management,_great_customer_service,_pays_dividends,_and_has_a_long_record_of_profits._What_type_of_common_stock_is_Above_the_Rest?

Question 35 (of 35)