LEARNING FRAMEWORK 1301 CHAPTER 3

Which statement about debit cards is false? A. A debit card allows you to buy something now and pay for it later in installments. B. Without overdraft protection, the amount of your debit card purchases is limited to the funds in your bank account. C. A debit card provides direct access to your checking account. D. You may be charged a fee if you use your debit card to withdraw cash from an ATM outside your bank's network.

A. A debit card allows you to buy something now and pay for it later in installments.

Overdraft protection allows you to spend more than you have in your account without being charged a fee. A. False B. True

A. False

Felipe was excited to find out that he was accepted at the college of his choice, but knew that he would need financial aid to pay for it. Luckily, he was approved for a government grant. What does this mean for Felipe? A. He does not have to repay the grant at all. B. He must start making payments on the grant immediately. C. He must repay the grant after graduation, without interest. D. He must repay the grant after graduation, with interest.

A. He does not have to repay the grant at all.

__________, or being on time, is expected in college, work, and elsewhere in our society. A. Punctuality B. Animosity C. Procrastination D. Honesty

A. Punctuality

Stephanie has a large, complex assignment for her biology class due in two weeks. She is not sure how best to tackle completing it on time. What will NOT help Stephanie finish her project on time? A. Putting it off until next week B. Rewarding herself when she finishes a specific task C. Creating a to-do list D. Saying "no" to people who want her attention

A. Putting it off until next week

How often should you check your calendar? A. Several times a day B. At the beginning of the week C. Every other day D. Several times a week

A. Several times a day

A good time manager finishes assignments exactly on time, not early or late. A. True B. False

A. True

When using an electronic calendar, you should back up your information by syncing with another electronic device. A. True B. False

A. True

While your studies are important, you should also include time for social and extracurricular activities in your schedule. A. True B. False

A. True

A college academic calendar does NOT identify __________. A. due dates for research papers B. add/drop deadlines C. graduation deadlines D. holidays

A. due dates for research papers

You can demonstrate respect to your instructor by __________. A. planning ahead for transportation so you get to class on time or early B. whispering when talking to another student during a lecture C. skipping appointments during office hours D. texting your friends during class to make extracurricular plans

A. planning ahead for transportation so you get to class on time or early

To __________ means to put your tasks, goals, and values in order of importance. A. prioritize B. multitask C. overextend D. budget

A. prioritize

An example of organizing your time wisely is __________. A. studying for one class during another B. studying for many things at once C. using your waiting time to review D. scheduling tasks for every moment of the day

C. using your waiting time to review

If you want to apply for federal aid, how often must you complete the Free Application for Federal Student Aid (FAFSA)? A. Only when you are also taking out a student loan B. Every year C. Only the first time you apply for financial aid D. Every term

B. Every year

Multitasking allows you to complete tasks more quickly and accurately than if you did them one at a time. A. True B. False

B. False

The best strategy for getting out of credit card debt is to make just the minimum required payment each month. A. True B. False

B. False

Peter has a busy weekend coming up, and there are a lot of things he plans to do. As he prepares his schedule, which task should be Peter's MOST important priority? A. Attending a football game with his friends B. Studying for Tuesday's English midterm C. Attending his cousin's birthday party D. Completing the reading for Wednesday's biology class

B. Studying for Tuesday's English midterm

Recognizing that you can be in control is the first step to effective time management. A. False B. True

B. True

Your diet and the amount of exercise you get can affect your energy level. A. False B. True

B. True

The best way to organize a major writing assignment is to __________. A. ask your instructor to provide a plan B. break the assignment into smaller steps with individual deadlines C. plan to complete the entire assignment three days before the due date D. start working without developing a plan

B. break the assignment into smaller steps with individual deadlines

A(n) __________ is a spending plan that tracks all sources of income and expenses during a set period of time. A. scholarship B. budget C. academic calendar D. grant

B. budget

You can demonstrate respect to your instructor by __________. A. whispering when talking to another student during a lecture B. planning ahead for transportation so you get to class on time or early C. texting your friends during class to make extracurricular plans D. skipping appointments during office hours

B. planning ahead for transportation so you get to class on time or early

When creating a budget, you should NOT __________. A. determine your total income per month B. underestimate your variable expenses C. identify how much you spend on food per month D. do a test run and make adjustments

B. underestimate your variable expenses

Almost all successful people __________. A. engage in multitasking to complete tasks more effectively B. procrastinate until the last minute and then complete tasks in a hurry C. use a planner to keep track of appointments, tasks, and deadlines D. believe that they don't have control over their time

C. use a planner to keep track of appointments, tasks, and deadlines

Which is an example of an expense? A. Wages B. Money from parents C. Books D. Scholarship disbursement

C. Books

Leo is dangerously close to failing some of his classes this semester. He is taking four advanced science classes with lab sections, plays soccer in his free time, and sings in a choir on weekends. What should Leo do to avoid overextending himself? A. Start drinking coffee with breakfast to keep his energy up B. Spend less time sleeping at night so he has more time to study C. Learn to take on only what he can handle D. Devote more time to his family

C. Learn to take on only what he can handle

Shereen has accidentally overdrawn her checking account this month. Thankfully, she has a little money in savings and can cover costs for now, but she has to find a way to reduce her monthly spending. Which strategy will NOT help Shereen reduce her monthly expenses? A. Shopping at secondhand stores when possible instead of buying new B. Cutting out extraneous spending like eating at restaurants C. Leasing a car so she can give up her bus pass D. Paying her credit card bill on time to avoid late fees

C. Leasing a car so she can give up her bus pass

College can be expensive, and not everybody can afford it on their own. What is NOT a common method of paying for college? A. Applying for student loans B. Earning a scholarship C. Enrolling in a work-study program D. Putting everything on a credit card

D. Putting everything on a credit card

Having too much to do given your available resources is called __________. A. budgeting B. prioritizing C. multitasking D. being overextended

D. being overextended

Which is an effective strategy for avoiding identity theft? A. Keeping the same passwords for many years B. Throwing old documents containing personal information directly in the trash C. Avoiding open networks when banking or shopping online D. Avoiding website URLs that start with "https://"

D. Avoiding website URLs that start with "https://"

An appropriate way to bolster your energy level during class is to __________. A. drink sugary sodas and juices B. nap while the instructor delivers a lecture C. eat candy and other sugar-laden snacks D. drink lots of water

D. drink lots of water

One benefit of creating and following a budget is that it allows you to __________. A. increase your monthly costs B. finish college with substantial debt C. put off paying your bills D. put money away for emergencies

D. put money away for emergencies

When preparing your calendar, it is recommended that you __________. A. schedule equal allotments of time for all assignments B. keep separate academic and social calendars C. plan out no more than one week at a time D. use different colors for different categories

D. use different colors for different categories

A __________ expense is one that may change every time you pay it. A. budget B. fixed C. work-study D. variable

D. variable