Students must complete the following to receive full credit:
Define Terms with examples for each term.
Write a Summary of each video (minimum 3-5 sentences per video). Label clearly for teacher to see work.
Answer Important Questions after watching the videos and taking notes.
Take Exam at: https://testmoz.com/class/16400 be sure to print (control + "P") results of submitted exam and staple to the front of each credit.
UNIT 6: CREDIT
Review the videos and media and take notes on terms to know. If the terms are not on the media, please Google them in order to get the materials needed to take the test.
Terms to Know:
Credit
Interest Rate
APR
Payoff ammount
Refinance
Down Payment
Billing Cycle
Principal balance
Cosigner
Collateral
When completed with terms above and notes below take test and staple to front of work:
Notes:
Important Questions:
What is credit?
What is interest?
Do you know the difference between debit and credit?
What is a credit report?
Do you know what a credit score is and what it’s for?
How many credit cards should you have?
Do you know how to plan a budget?
Do you have a plan to pay for college?
If you have a bill that’s due, but can’t pay it, what should you do?
What does it mean to have your identity stolen?
When completed with terms above and notes below take test and staple to front of work:
UNIT 7: LOANS AND PAYMENTS
Review the videos and media and take notes on terms to know. If the terms are not on the media, please Google them in order to get the materials needed to take the test.
Terms to Know:
Mortage loan
Repayment plan
Amortization
Interest rate
fees
origination fee
closing cost
APR
Loan
Term
When completed with terms above and notes below take test and staple to front of work:
Notes:
Important Questions:
What is a student loan?
What is the difference between a federal and private loan?
What can a student loan be used for?
What is the grace period on a student loan?
How do I repay my student loans?
What if I can't afford my payments?
Can I pay off my loans early?
What is the best student loan interest rate?
What is the FAFSA form?
Is college worth the cost?
When completed with terms, notes and questions: take test and staple to front of work:
UNIT 8: HOME OWNERSHIP
Review the videos and media and take notes on terms to know. If the terms are not on the media, please Google them in order to get the materials needed to take the test.
Terms to Know:
home to income ratio
mortgage insurance
prime rate
interest
fixed vs. variable rates
simple interest
rate in money
time in money
compound daily interest
payday loan rate
payday loan interest
mortgage loans
renting vs. buying a home
interest rate
home equity
dividend
income stock
investment property
percentages
When completed with terms, notes and questions: take test and staple to front of work:
Notes:
Important Questions:
How much money must be loaned to receive $15,000 if the money is loaned for five years at 12% interest?
Mr. Johnson bought a house for $64,500. He later sold the house and broke even, after paying 8% of the selling price in commission, and escrow fees. How much had the lot increased in value?
Steve sold his home which had no loans against it. He received a settlement check from escrow for the amount of $96,400 after paying escrow fees of $1,365.00 plus a 6% real estate broker's commission. What was the selling price?
What is the salesman's 40% of a 6% commission on a $32,000 sale?
Ted paid $85,000 for a house, putting up a 15% cash down payment and borrowing the balance at 8.5% interest. The loan is payable over 30 years with monthly payments of $560, including principal and interest. If Ted makes the payments as scheduled, the percentage that the original cost of the house increased because of the use of credit is?
A $5,000 investment at 10% interest compounded annually earns how much in three years?
How much interest would a $6,000 loan earn in five years at 10% simple interest?
An agent lists a seller's house for 6 percent commission. The final agreed sales price is $205,000. How much commission did the seller pay?
Hector and Maria Hernandez have paid a total of $10,500 in mortgage interest and $1,500 in property taxes in this tax year. If they are in the 28% tax bracket, their tax savings is:
Cindy purchased a lot for $40,000. She has been asked to build an apartment house with a projected income of $20,000 per year. Her accountant estimates all expenses, including proper management, repairs, etc., to be $12,000 per year. Cindy wants a 10% return on her investment. Which of the following is nearest to the amount she can afford to pay for the erection of the building?
$110,000
$50,000
$120,000
$100,000
11. A building that has an effective gross income of $65,000 and total operating expenses of $6,500 has a net income ratio of:
.16
.19
.90
.10
12. In order to be able to earn $90.00 per month from an investment that yields a 6% return, you must invest?
$9,000
$18,000
$2,500
$15,000
13. A buyer is obtaining a conventional loan that requires 29/33 ratios. He earns $75,000 a year, and has a $450 car payment. What is his maximum PITI payment?
$1,812.50
$21,750.00
$1,612.50
$2,475.00
14. If building costs increase by 15%, the purchasing power of the investment dollar decreases by:
13%
20%
25%
33-1/3%
15. Lynn sold a home for $27,000. She made a 15% profit. What did the home cost?
$18,333
$20,000
$20,833.33
$23,478
When completed with terms, notes and questions: take test and staple to front of work:
UNIT 9: CAR OWNERSHIP AND INSURANCE
Review the videos and media and take notes on terms to know. If the terms are not on the media, please Google them in order to get the materials needed to take the test.
Terms to Know:
Annual Percentage Rate (APR)
Acquisition Fee
Balloon Payment/Balloon Loan
Blue Book Value
Buyout Price
Closed-Ended Lease
Dealer Installed Option
Dealer Invoice
Depreciation
Down Payment
Extended Warranty
Finance Rate
MSRP Or Manufacturer’s Suggested Retail Price
When completed with terms above and notes below take test and staple to front of work:
Notes:
Important Questions:
Why is it important to see what safety systems are included in a car?
What is better: gas, electric, or a hybrid car? Why?
How do you find out how much it will cost to maintain a car?
What are finance options?
What is a good price for a car for a teen? For an adult with a job at Costco? For an adult that is a lawyer? Why do you think this way?
What is resale value?
Should you buy used or new for a car? Why?
What is a "salvage title"? Is this a good thing?
Why is it important a used car has a maintenance record?
What is a warranty and is it important?
When completed with terms, notes and questions: take test and staple to front of work:
UNIT 10: INVESTMENTS
Review the videos and media and take notes on terms to know. If the terms are not on the media, please Google them in order to get the materials needed to take the test.
Terms to Know:
balance sheets
tax
federal tax
state tax
income tax
tax deductions
tax rate
IRA
Roth IRA
Medi care
Medi Cal
Health Insurance
Retirement
When completed with terms above and notes below take test and staple to front of work:
Notes:
Important Questions:
What will my mortgage rate be today (Google it)?
How long is my mortgage rate good for that you just looked up?
How do you calculate a mortgage payment?
What is a refinance?
What is PITI?
How much are closing costs and what is it?
What is an FHA loan?
If your loan amount is $200,000 and you are being charged 1 point. What amount of money is that?
What is the difference between a 15 year adjustable rate mortgage and a 30 year fixed rate?
Is there anything we can do to increase my credit score to get a better rate?
When completed with terms, notes and questions: take test and staple to front of work: