JROTC Semester 2 Exam Review UPDATED
ACTUAL Exam Questions and CORRECT
Answers
Florida has no state income tax
True or False - CORRECT ANSWER -A
Which of the following is considered a need?
A new car
A clothes dryer
A place to sleep
Lunch at a local Restaurant - CORRECT ANSWER -C
Which of the following factors can influence decisions?
age
values
families
all of the above - CORRECT ANSWER -D
Marcus set a goal to buy a used car in the next few months. He plans to make a $2,500 down
payment and has already saved $1,300. If he can save $150 each month for this goal to buy a car,
how long will take him to save the entire $2,500?
6 months
8 months
10 months
12 months - CORRECT ANSWER -B
, Shaunda wants to buy her grandmother's car to drive back and forth to college nest year. Her
grandmother agrees to sell Shaunda the car for $1,200 in a year. This is an example of what type
of goal?
short term
medium term
long term
financial term - CORRECT ANSWER -B
Any money you receive such as an allowance or paycheck
PYF
emergency fund
income
fixed expense - CORRECT ANSWER -C
A predictable amount of money spent to buy something or do something that is the exact same
amount every time
fixed expense
PYF
opportunity cost
spending log - CORRECT ANSWER -A
Saving a certain amount of money to be used for financial goals
income
emergency fund
PYF
fixed expense - CORRECT ANSWER -C
Setting aside money to have on hand for unexpected expenses and events
fixed expense
ACTUAL Exam Questions and CORRECT
Answers
Florida has no state income tax
True or False - CORRECT ANSWER -A
Which of the following is considered a need?
A new car
A clothes dryer
A place to sleep
Lunch at a local Restaurant - CORRECT ANSWER -C
Which of the following factors can influence decisions?
age
values
families
all of the above - CORRECT ANSWER -D
Marcus set a goal to buy a used car in the next few months. He plans to make a $2,500 down
payment and has already saved $1,300. If he can save $150 each month for this goal to buy a car,
how long will take him to save the entire $2,500?
6 months
8 months
10 months
12 months - CORRECT ANSWER -B
, Shaunda wants to buy her grandmother's car to drive back and forth to college nest year. Her
grandmother agrees to sell Shaunda the car for $1,200 in a year. This is an example of what type
of goal?
short term
medium term
long term
financial term - CORRECT ANSWER -B
Any money you receive such as an allowance or paycheck
PYF
emergency fund
income
fixed expense - CORRECT ANSWER -C
A predictable amount of money spent to buy something or do something that is the exact same
amount every time
fixed expense
PYF
opportunity cost
spending log - CORRECT ANSWER -A
Saving a certain amount of money to be used for financial goals
income
emergency fund
PYF
fixed expense - CORRECT ANSWER -C
Setting aside money to have on hand for unexpected expenses and events
fixed expense
