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QR Challenge: Personal Finance Chapter 2 Test Review

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. What is money management?Day-to-day financial activities
2. Components of money management?Storing and maintaining personal financial records and documents, Creating a balance sheet, Creating and implementing a plan for spending and saving, Creating a cash flow statement
3. Which of the following documents would most likely be stored in a safe deposit box or fireproof home safe? Personal financial statements, Warranties, Marriage certificates, or Bank Statements marriage certificate
4. How long should you keep documents relating to investments?As long as you own them
5. How long should you keep your most current will? forever or permanently
6. The current financial position of an individual or family is best presented with the use of a? balance sheet
7. Items with monetary value are referred to as? assets
8. The amount you would have left if all assets were sold and all debts were paid in full is called your? net worth
9. The equation to calculate net worth is? Assets - Liabilities = Net worth
10. The inability to pay debts when they are due because liabilities far exceed the value of assets is called? insolvency
11. Financial experts recommend monthly savings of ____ of gross income.? 5-10%
12. The money left over after paying for housing, food, and other necessities is called? discretionary income
13. Take-home pay is also called? net pay
14. The document that would tell you what you received and spent over the past month is the? cash flow statement
15. The document that would be most useful to plan spending and saving to achieve financial goals is the? budget
16. The number of personal financial records a household has to organize may seem overwhelming. How long should you keep copies of your tax returns? 7 years

 


Personal Finance Chapter 2 Test Review: QR Challenge

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

Question 1 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

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

Question 2 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Which_of_the_following_documents_would_most_likely_be_stored_in_a_safe_deposit_box_or_fireproof_home_safe?_Personal_financial_statements,_Warranties,_Marriage_certificates,_or_Bank_Statements

Question 3 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

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

Question 4 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

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

Question 5 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

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

Question 6 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

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

Question 7 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

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

Question 8 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

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

Question 9 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

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

Question 10 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

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

Question 11 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=The_money_left_over_after_paying_for_housing,_food,_and_other_necessities_is_called?

Question 12 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Take-home_pay_is_also_called?

Question 13 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

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

Question 14 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

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

Question 15 (of 16)

 


Personal Finance Chapter 2 Test Review: QR Challenge

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

Question 16 (of 16)