POST COMPREHENSIVE EXAM 2026
QUESTIONS WITH SOLUTIONS GRADED A+
◉ How does a debit card work? Answer: It lets you pay with the money
in your checking account.
◉ Which of the following is true about credit cards? Answer: If you
don't pay your balance off in full each month, you'll accrue interest.
◉ Someone broke into your apartment and stole all of your stuff.
Luckily, you have renter's insurance. How do you request that your
insurance pay for the lost items? Answer: File a claim.
◉ What is the name of the document that comes with your paycheck and
shows you what you were paid and how much was taken for taxes?
Answer: Paystub
◉ When moving to a new rental, you'll likely need to pay a security
deposit. How much is this often? Answer: First and last month's rent.
◉ You got $200 from your grandma for your birthday. What should you
do first? Answer: Record it as income in your budget.
, ◉ What is the name of the document that tells you what you need to pay
on your credit card? Answer: Statement
◉ What happens if you go into debt? Answer: You'll need to pay back a
minimum amount every month.
You'll likely pay more than you borrowed due to interest.
Your net worth will be negatively affected.
◉ You charged $500 to your credit card to buy a new TV and paid it off
after 6 months. With interest, you paid back a total of $600. Which of
the following is the principal in this situation? Answer: $500
◉ If you decide to rent a place to live, you'll need to sign a . Answer:
Lease
◉ If you pay off only the amount owed on your credit card each month,
but don't pay it off completely, what's that called? Answer: Making your
minimum payment.
◉ Your account statement arrived. You had a balance of -$52.79. After
the $307.74 deposit from Roland's Bookstore, what is your new account
balance?
Hint: Click on the image to zoom in. Answer: $254.95
QUESTIONS WITH SOLUTIONS GRADED A+
◉ How does a debit card work? Answer: It lets you pay with the money
in your checking account.
◉ Which of the following is true about credit cards? Answer: If you
don't pay your balance off in full each month, you'll accrue interest.
◉ Someone broke into your apartment and stole all of your stuff.
Luckily, you have renter's insurance. How do you request that your
insurance pay for the lost items? Answer: File a claim.
◉ What is the name of the document that comes with your paycheck and
shows you what you were paid and how much was taken for taxes?
Answer: Paystub
◉ When moving to a new rental, you'll likely need to pay a security
deposit. How much is this often? Answer: First and last month's rent.
◉ You got $200 from your grandma for your birthday. What should you
do first? Answer: Record it as income in your budget.
, ◉ What is the name of the document that tells you what you need to pay
on your credit card? Answer: Statement
◉ What happens if you go into debt? Answer: You'll need to pay back a
minimum amount every month.
You'll likely pay more than you borrowed due to interest.
Your net worth will be negatively affected.
◉ You charged $500 to your credit card to buy a new TV and paid it off
after 6 months. With interest, you paid back a total of $600. Which of
the following is the principal in this situation? Answer: $500
◉ If you decide to rent a place to live, you'll need to sign a . Answer:
Lease
◉ If you pay off only the amount owed on your credit card each month,
but don't pay it off completely, what's that called? Answer: Making your
minimum payment.
◉ Your account statement arrived. You had a balance of -$52.79. After
the $307.74 deposit from Roland's Bookstore, what is your new account
balance?
Hint: Click on the image to zoom in. Answer: $254.95
