Unit 5 check

Unit 5 check: Personal Goals, Budgeting, and Investing

10 questions from 3 lessons in Unit 5. Answer each one, and if you miss, follow the link back to where it is taught, then try again. Your score counts first tries.

Not assessed on the AP Exam. Unit 5 is part of the course, but nothing in it is on the exam.

Question 1 · from 5.1 · Multiple choice

Rosa leaves her job at a design firm to work for herself as a freelance graphic designer. Which change in her taxes should she plan for?

Question 2 · from 5.2 · Multiple choice

An insurance company sells fire insurance on houses. It cannot know which houses will burn this year, yet it can still set premiums that cover what it will pay out. Why?

Question 3 · from 5.3 · Calculate

A CD earned a nominal return of 4.5% last year, while prices rose by 3.2%. Estimate the CD's inflation-adjusted return, as a percent rounded to one decimal place.

Your answer %

Question 4 · from 5.1 · Multiple choice

The Parks earned $48,000 last year and the Cruzes earned $150,000. The two households claimed the same deductions and credits. Which statement about their federal income tax is true?

Question 5 · from 5.2 · Multiple choice

Mia has $4,000 in savings. She says she would rather pay more each month than risk a large bill she did not plan for. Which auto policy fits her risk tolerance best?

Question 6 · from 5.3 · Multiple choice

Leo is 30 and saves for retirement in stock mutual funds. When stock prices fall 20% over two months, he sells everything so he cannot lose any more. Which best describes his decision?

Question 7 · from 5.1 · Multiple choice

The Lins claim a tax deduction of $3,000 for retirement contributions, and they qualify for an education tax credit of $1,000. What does each one do?

Question 8 · from 5.2 · Multiple choice

Diego and Ana own a home with a mortgage and just had their first child. Diego earns most of the household's income. Which change to their insurance is most clearly called for?

Question 9 · from 5.3 · Multiple choice

The Kims will need $30,000 for a home down payment in 18 months, and they cannot afford to come up short. Where should they keep that money?

Question 10 · from 5.1 · Calculate

Kai earns $18.50 an hour and worked 76 hours in this two-week pay period, none of it overtime. His pay stub shows income taxes of $121.80, Social Security of $87.17, Medicare of $20.39 and union dues of $28.00. What is his net pay for the period, in dollars?

Your answer

0 of 10 answered.