Exam 15: Money

The first thing you need to do when creating a budget is to track your expenses.

Which of these is an example of a need?

For most students, some level of borrowing is necessary to complete their degree and begin their career in a timely manner.

Which provides part-time employment opportunities for students who receive financial aid if their aid amount is not enough to cover all their education costs?

What are the areas where you are most willing to sacrifice in order to work toward a more secure financial future?

Mark, Frank, and Henry share an off-campus apartment. When they first decide to live together, Henry sets up an account with the local cable company for television and internet service, which costs $150 each month. The roommates agree that each will pay one-third of the bill, or $50 each month. Two weeks into their third month together, Frank suddenly moves out, leaving Mark and Henry alone in the apartment. Now the bill from the cable company is due. How much is Henry legally obligated to pay the cable company for the monthly bill?

Which of these is an example of a variable expense?

Andrea filed for financial aid this year before starting college and received enough money to cover her tuition for her freshman year. When should Andrea file for financial aid again?

A debit card is a good way to make sure that you do not spend more money than you have.

Which of the following statements accurately describes the "reality check" you should do when gathering information as part of budgeting?

The amount of financial aid you receive will depend on how

Brody works part-time at a veterinarian's office in addition to going to college, and he is paid twice a month. Which will likely work best for Brody?

What are two ways you can cut expenses from your budget?

You have several bills, such as electricity and internet, in your name. If you are late or miss payments, which would this affect?

What does cooperative (co-op) education allow students to do?

Which type of financial aid must be paid back with interest?

The first step of creating a budget is to

Who most commonly awards scholarships?

Which of these is an example of a want?

Who is legally obligated to repay a PLUS loan?