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Unit 2 pretest

True/False
Indicate whether the sentence or statement is true or false.
 
 
Read the ad and decide if each statement is true (T) or false (F).

The Best Computer Around!
A COMPLETE Package!

The Fastest!
The Cheapest!* ($1200)
The Biggest Hard Drive! (1.8 gigahertz)

Take it for a Test-Drive!
(If you’re not completely satisfied within 30 days, we’ll give you your money back!)**

*Monitor and printer sold separately, shipping and handling not included.
**You must pay for shipping and handling to return the computer.
 

 1. 
The computer is $1200.
 

 2. 
The computer comes with a monitor and printer.
 

 3. 
If you return the computer, you will have to pay for shipping.
 

 4. 
You can try the computer out for 30 days.
 

 5. 
This computer is a complete package that includes the computer, monitor, and printer.
 

Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
 
 
Look at the Packman family budget.  Choose the best answer.

Monthly Expenses
Budgeted Amount
Actual Amount Spent
Difference
Auto
$375.00
$422.85
 
Rent
$1,500.00
$1,500.00
 
Utilities
$265.00
$260.00
 
Food
$800.00
$758.73
 
Medical
$300.00
$100.00
 
TOTAL
   
 

 6. 
What is the total amount they budgeted for the month?
a.
$3,000.00
c.
$3,041.58
b.
$3,040.68 
d.
$3,240.00
 

 7. 
How much did they actually spend?
a.
$3,000.38
c.
$3,240.08
b.
$3,041.58
d.
$3,240.58
 

 8. 
What expense did they budget exactly right for?
a.
auto
c.
food
b.
rent
d.
medical
 
 
Read the information and choose the best answer.


Be a Smart Consumer

Sometimes buying a large or expensive item can be challenging. You want to be sure the things you bring home will give you good service for years. To get the most for your money, we recommend the following tips.

·  Plan carefully before you shop.
·  Determine a budget and stick to it.
·  Shop around for quality and price.
·  Read sale ads carefully.
·  Look for price-matching policies.
·  Carefully consider bargain offers.
·  Ask about sale adjustments.
·  Ask about refund and return policies for sale items.
·  Ask about warranties. 
 

 9. 
What is the main idea of the reading?
a.
how to read advertisements
c.
how to make smart purchases
b.
how to budget your money
d.
how to spend your money
 

 10. 
Why should you shop around?
a.
to get the latest fashion
c.
to read advertisements
b.
to find the best quality and price
d.
to get a warranty
 

 11. 
What type of policies does the reading suggest you look for?
a.
budget
c.
discount
b.
price-matching
d.
warranty
 
 
Choose the best answer.
 

 12. 
If Gilda ________ a doctor, she would find a cure for cancer.
a.
were
c.
is
b.
would be
d.
be
 

 13. 
If they didn't live so far away from school, they ________ .
a.
walk
c.
will walk
b.
walked
d.
would walk
 

 14. 
The couple would take their honeymoon in Spain if they ________ rich.
a.
were
c.
is
b.
was
d.
be
 
 
Read the credit card application and choose the best answer.

1

Title (Optional)       Mr ___Mrs___Ms___Dr ___ 
First Name ________________________        MI  ___   
Last Name ________________________  
Date of Birth ___/ ___/ 19____ (mm/dd/19yy)
Social Security # _____-____-________ 
2
Home Address:
Street Address_____________________________       Apt.# ____
City _______________________      State _____ Zip  ___________
Home Phone ____      -- ____________
Time at Home Address: ____      years and  _____months 
Do you (check one) Own?____  Rent ? _____
Monthly Rent or Mortgage Amount       $ _____ .00 
3

Company Name ________________________________________
Street Address_____________________________       Floor/Suite# ____
City _______________________      State _____ Zip  ___________
Business Phone ____      -- ____________
Time at This Company: ____      years and  _____months 
4

Household Income  _____________________
Alimony, separate maintenance, or child support need not be revealed if you do not wish to rely on it. 
Income Source ______________________________
Do you have a (check all that apply)
Checking Account __  Money Market/Savings Account __
 

 15. 
Where would you put your work address?
a.
part 1
c.
part 3
b.
part 2
d.
part 4
 

 16. 
Where would you write your income?
a.
part 1
c.
part 3
b.
part 2
d.
part 4
 

 17. 
Where would you tell the credit card company if you own or rent?
a.
part 1
c.
part 3
b.
part 2
d.
part 4
 

Completion
Complete each sentence or statement.
 
 
Look at the budget below.  Make calculations to complete the table.

Monthly Expenses
Budgeted Amount
Actual Amount Spent
Difference
Auto
$375.00
$422.85
-$47.85
Entertainment
$200.00
$150.00
+$50.00
Food
$800.00
$845.27
(3)
Medical
$500.00
$325.00
+$125.00
Rent
$1,600.00
$1,600.00
(4)
Utilities
$210.00
$195.42
(5)
TOTAL
(1)
(2)
 
 

 18. 
What is the total amount budgeted for the month? (1) ________________
 

 

 19. 
What is the total amount spent for the month? (2) ________________
 

 

 20. 
How much more than the budgeted amount was spent on food? (3) ________________
 

 

 21. 
What is the difference between the budgeted amount and actual amount spent on rent? (4) ________________
 

 

 22. 
How much less was spent on utilities? (5) ________________
 

 
 
Complete each statement with a word or phrase from the box below.

mortgage
afford
down payment
get approved for a loan
price range
credit check
deposit
purchase price
 

 23. 
The loan that you get for a house is called a ___________________________________.
 

 

 24. 
The loan officer will run a  ___________________________________ with your social security number to see how much you can borrow.
 

 

 25. 
Before you buy a house, it is important to decide how much you can ___________________________________.
 

 

 26. 
The percentage of the purchase price that you pay right before you move in to your new home is called a  ___________________________________.
 

 

 27. 
You must ___________________________________ before you can buy a house.
 

 



 
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