Khaemenes High · Grade 11

Midterm · Answer Key

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Objective Key

#OriginQuestionAnswerRationale
1Week 6Which action best demonstrates mastery of the Week 6 inquiry?DA student uses an authorized report source, identifies the exact disputed item, and preserves evidence and deadlines.
2Week 6Which statement is most consistent with the evidence and reasoning developed in Week 6?BConsumers should obtain reports through authorized channels and dispute inaccurate information promptly.
3Week 9Which definition best matches “bankruptcy”?BBankruptcy means a federal legal process providing structured treatment or discharge of eligible debts.
4Week 2Which definition best matches “withholding”?DWithholding means money deducted from pay and sent toward taxes or other obligations.
5Week 1Which statement is most consistent with the evidence and reasoning developed in Week 1?DBias can be reduced through comparison rules, waiting periods, automation, and independent verification.
6Week 9Which definition best matches “delinquency”?ADelinquency means failure to make a required payment on time.
7Week 1Which definition best matches “tradeoff”?CTradeoff means a sacrifice of one benefit in order to obtain another.
8Week 3Which definition best matches “routing number”?BRouting number means a number identifying a financial institution in payment systems.
9Week 5Which definition best matches “tax deduction”?CTax deduction means an amount that reduces taxable income when allowed.
10Week 2Which definition best matches “human capital”?BHuman capital means education, skill, experience, health, and knowledge that affect earning capacity.
11Week 7Which statement is most consistent with the evidence and reasoning developed in Week 7?DPromotional rates, balance transfers, rewards, fees, and penalty terms must be evaluated together.
12Week 7Which definition best matches “revolving credit”?DRevolving credit means credit that can be borrowed, repaid, and borrowed again up to a limit.
13Week 9Which definition best matches “credit counseling”?ACredit counseling means education and assistance with budgeting, repayment, and creditor negotiation.
14Week 7Which definition best matches “late fee”?BLate fee means a charge for failing to make the required payment by the deadline.
15Week 1Which definition best matches “anchoring”?AAnchoring means overreliance on an initial number or piece of information.
16Week 8Which statement is most consistent with the evidence and reasoning developed in Week 8?AA longer term may lower the monthly payment while increasing total interest and time in debt.
17Week 9Which statement is most consistent with the evidence and reasoning developed in Week 9?ABankruptcy can provide relief but has legal, credit, cost, asset, and eligibility consequences requiring qualified advice.
18Week 5Which statement is most consistent with the evidence and reasoning developed in Week 5?BPayroll, sales, property, and local taxes affect households differently.
19Week 3Which action best demonstrates mastery of the Week 3 inquiry?BA student verifies deposit insurance, compares the full fee schedule, and reconciles transactions rather than relying only on the displayed balance.
20Week 5Which definition best matches “payroll tax”?CPayroll tax means a tax on wages used for programs such as Social Security and Medicare.
21Week 7Which action best demonstrates mastery of the Week 7 inquiry?BA student calculates total repayment under the actual APR and fees and does not select credit based only on the monthly minimum or rewards.
22Week 2Which definition best matches “gross pay”?AGross pay means earnings before deductions.
23Week 7Which definition best matches “minimum payment”?CMinimum payment means the smallest payment required by the due date, often resulting in long repayment and high interest.
24Week 2Which definition best matches “net pay”?BNet pay means pay remaining after taxes and other deductions.
25Week 3Which statement is most consistent with the evidence and reasoning developed in Week 3?CRegular reconciliation detects unauthorized transactions, missing deposits, fees, and cash-flow problems.
26Week 6Which statement is most consistent with the evidence and reasoning developed in Week 6?ACredit reports and scores are related but distinct; several scoring models may produce different numbers.
27Week 7Which definition best matches “grace period”?AGrace period means a period in which eligible purchases may avoid interest when statement terms are satisfied.
28Week 4Which definition best matches “fixed expense”?DFixed expense means a recurring cost that is relatively stable during the planning period.
29Week 3Which definition best matches “checking account”?DChecking account means a transaction account designed for payments, withdrawals, and deposits.
30Week 4Which statement is most consistent with the evidence and reasoning developed in Week 4?DEmergency funds and sinking funds prevent routine shocks from becoming high-cost debt.
31Week 7Which statement is most consistent with the evidence and reasoning developed in Week 7?BMonthly payment alone does not reveal total borrowing cost.
32Week 5Which statement is most consistent with the evidence and reasoning developed in Week 5?AFederal income tax uses brackets applied to portions of taxable income, not one rate applied to all income.
33Week 9Which definition best matches “default”?CDefault means failure to meet contractual repayment terms, often after specified delinquency.
34Week 7Which statement is most consistent with the evidence and reasoning developed in Week 7?APaying only the minimum can extend debt for years and greatly increase interest.
35Week 4Which definition best matches “variable expense”?CVariable expense means a cost that changes with use, price, or choice.
36Week 3Which statement is most consistent with the evidence and reasoning developed in Week 3?DAccount selection should compare insurance, fees, minimums, interest, access, service, and complaint history.
37Week 1Which definition best matches “present bias”?DPresent bias means the tendency to overweight immediate rewards relative to future consequences.
38Week 8Which action best demonstrates mastery of the Week 8 inquiry?CA student compares total financed cost and term, verifies affordability against net cash flow, and understands the collateral at risk.
39Week 2Which statement is most consistent with the evidence and reasoning developed in Week 2?AIncome projections should use ranges and realistic completion and employment assumptions.
40Week 8Which definition best matches “down payment”?BDown payment means money paid upfront, reducing the amount financed.

Constructed Responses

1. What consumer protections are necessary when a person under financial stress has less bargaining power and information?

10-point rubric: 2 accurate claim, 3 specific evidence, 3 disciplinary reasoning, 1 counterclaim/limitation, 1 organization and citation.