Which of the following is an example of a long-term debt? Match. Flashcards. What type of financial aid needs to be repaid? ALL students will be assigned to an event right from the beginning BEFORE October 1. One of those areas is personal finance. Money or other payment exchanged for an act or service that aids a business. When should a person begin contributing to a retirement plan? ... Texas DECA, PO Box 164908, Fort Worth, TX 76161 . The H&R Block REGARDLESS of when they compete…November or February. The Personal Financial Literacy Event is designed to measure the student’s ability to apply reliable information and systematic decision making to personal financial decisions. With good financial education, you’ll be able to make smart decisions when handling money. Permitted for paying a credit card bill to avoid a late fee, The Truth-in-Lending Act requires that borrowers be given, Which of the following credit cards makes the most sense for a person that pays his balance, A credit card that offers 1% cash back rewards on all purchases, A company that keeps files and records on people who apply for and use credit is called a. [/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=”yes”][vc_column_inner width=”1/2″][vc_column_text]ANYTIME between 7:00 am – 6:00 pm but students writing the SAME Cluster Exam must write in the same time period! DECA’s Personal Financial Literacy Event measures the personal finance knowledge and skills that K–12 students should possess. What can a person expect as a customer of a credit union? This 30 question test measures financial literacy and income knowledge (career & entrepreneurship). It is the responsibility of each local advisor to complete a “Ticket to Test” for each DECA member needing to complete an online test for one of DECA’s competitive events. How should a person decide how much coverage she needs when selecting renters insurance? The portal and password to write the exam will be given to the Chapter Advisor on the day of. [/vc_column_text][/vc_column_inner][vc_column_inner width=”1/2″][vc_btn title=”Raw Scores of Online Practice Test portal” color=”green” size=”lg” link=”url:http%3A%2F%2Fwww.deca.ca%2Fdocuments%2FPractice_Test_Counts_%26_Scores.xls||target:%20_blank|”][vc_btn title=”2020 2021 Exam Blueprint” color=”peacoc” size=”lg” link=”url:https%3A%2F%2Fwww.deca.org%2Fwp-content%2Fuploads%2F2020%2F06%2FDECA-2020-HS-Exam-Blueprints.pdf||target:%20_blank|”][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=”yes”][vc_column_inner width=”1/4″][vc_btn title=”Marketing Cluster” color=”danger” size=”lg” align=”center” button_block=”true” add_icon=”true” link=”url:https%3A%2F%2Fwww.deca.org%2Fwp-content%2Fuploads%2F2018%2F10%2FHS_Performance_Indicators_Marketing_Cluster.pdf||target:%20_blank|”][vc_column_text]AAM, ASM, BSM, BTDM, FMS, MCS, MTDM, RMS, SEM,  STDM[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/4″][vc_column_text], [/vc_column_text][vc_btn title=”Business Management Cluster” color=”mulled-wine” size=”lg” align=”center” button_block=”true” add_icon=”true” link=”url:https%3A%2F%2Fwww.deca.org%2Fwp-content%2Fuploads%2F2018%2F07%2FHS_Performance_Indicators_Business_Mgmt_Cluster.pdf||target:%20_blank|”][vc_btn title=”Finance Cluster” color=”success” size=”lg” align=”center” button_block=”true” add_icon=”true” link=”url:https%3A%2F%2Fwww.deca.org%2Fwp-content%2Fuploads%2F2018%2F07%2FHS_Performance_Indicators_Finance_Cluster.pdf||target:%20_blank|”][vc_column_text], [/vc_column_text][/vc_column_inner][vc_column_inner width=”1/4″ css=”.vc_custom_1531966393223{padding-top: 15px !important;}”][vc_column_text], [/vc_column_text][vc_btn title=”Personal Financial Literacy” color=”vista-blue” size=”lg” align=”center” button_block=”true” add_icon=”true” link=”url:https%3A%2F%2Fwww.deca.org%2Fwp-content%2Fuploads%2F2015%2F08%2FHS_Financial_Literacy_Performance_Indicators.pdf||target:%20_blank|”][vc_btn title=”Hospitality Cluster” color=”warning” size=”lg” align=”center” button_block=”true” add_icon=”true” link=”url:https%3A%2F%2Fwww.deca.org%2Fwp-content%2Fuploads%2F2018%2F07%2FHS_Performance_Indicators_Hospitality_Cluster.pdf||target:%20_blank|”][vc_column_text], [/vc_column_text][/vc_column_inner][vc_column_inner width=”1/4″][vc_column_text], [/vc_column_text][vc_btn title=”Entrepreneurship Cluster” color=”peacoc” size=”lg” align=”center” button_block=”true” add_icon=”true” link=”url:https%3A%2F%2Fwww.deca.org%2Fwp-content%2Fuploads%2F2017%2F07%2FHS_Entrepreneurship_Performance_Indicators.pdf||target:%20_blank|”][vc_btn title=”Business Administration Core” size=”lg” align=”center” button_block=”true” add_icon=”true” link=”url:https%3A%2F%2Fwww.deca.org%2Fwp-content%2Fuploads%2F2017%2F10%2FHS_Performance_Indicators_Business_Admin_Core.pdf||target:%20_blank|”][vc_column_text], [/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row full_width=”stretch_row” parallax=”content-moving” parallax_speed_bg=”5″ css=”.vc_custom_1531966764036{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 70px !important;padding-bottom: 70px !important;background: #252525 url(https://deca.ca/v2/wp-content/uploads/2018/07/tn_2013-DECA-Anual-Business-Competition-38.jpg?id=7384);}”][vc_column width=”1/4″][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column][vc_tta_tabs color=”blue” active_section=”1″][vc_tta_section title=”More Information” tab_id=”1531966770975-8dce2dc7-fdd2″][vc_column_text], [/vc_column_text][/vc_tta_section][vc_tta_section title=”Results” tab_id=”1531966770976-3459b5ad-2f5c”][vc_column_text], [/vc_column_text][/vc_tta_section][/vc_tta_tabs][/vc_column][/vc_row], Talk to your Chapter Advisor for location. PERSONAL FINANCIAL LITERACY THE PERSONAL FINANCIAL LITERACY EXAM IS USED FOR THE FOLLOWING EVENT: PERSONAL FINANCIAL LITERACY PFL These test questions were developed by the MBA Research Center. In order to get spending under control, a person should first, Create a budget of current income and expenses, Comparison shopping for a car is necessary because, The price for the car can vary a great deal, Financial planners generally stress the importance of starting to save and invest early because, Of the power of compounding and appreciation, An important feature of a good financial goal is that the goal, Purchasing power decreases and it costs more money to buy goods when there is. 2016 Personal Financial Literacy Preparation Materials On Sale! The Personal Financial Literacy Event is designed to measure the student’s ability to apply reliable information and systematic decision making to personal financial decisions. Is this a good, Yes, because the money in the emergency account can be used if he loses his job, Students applying for financial aid to attend college usually need to, Complete a Free Application for Federal Student Aid (FAFSA) form, A person choosing a mortgage usually selects a fixed-rate loan because she knows that, The interest rate remains the same for the life of the mortgage. What type of information is not found on a consumer's credit report? That means you need a way to easily identify gaps in your understanding so you can seek out the resources you need to get educated. In response to the 2010 Ministry of Education Working Group on Financial Literacy report that identified the importance of financial literacy education in supporting the success of all students, the School of Accounting and Finance (SAF) has established the Financial Literacy Competition to assist in educating and promoting financial responsibility. There are no ‘second chance’ events. The Personal Financial Literacy Event is designed to measure the student’s ability to apply reliable information and systematic decision making to personal financial decisions. (i.e. …. Clusters will be assigned specific time slots one week prior to the exam. Following a budget that allows for savings, A college student has to live on a tight budget. less than 50 students), all Oral event competitors write the Regional online test and qualify based on weighted-average scores of team members, All Entrepreneurship and ALL DECA 10+ page papers, Integrated Marketing Events (IMCP, IMCS, IMCE), Professional Selling & Consulting Events (FCE, HTPS, PSE) do, Overall scores were used to rank the students, Qualifiers will vary depending on event and number of students per event, Regardless of the actual average in the event, only the Top X number of kids move on. DECA’s Personal Financial Literacy Event measures the personal finance knowledge and skills that K-12 students should possess. DECA Financial Literacy Exam 1 for the 2017-2018 season. 16 of the 18 combined Individual and Principle Events and 6 of the 8 Team Oral Events must be populated with the student names before the system will allow you to continue the next flight. Set two runs over some of the info, but goes a little bit more in-depth in some areas. And you’re reasonably sure that you know what you’re doing. Test 1166 PERSONAL FINANCIAL LITERACY 2 10. All Entrepreneurship and ALL DECA 10+ page papers, Integrated Marketing Events (IMCP, IMCS, IMCE). DECA uses five lists of performance indicators which are organized by career cluster – business administration core, business management and administration, finance, hospitality and tourism, and marketing, as well as personal financial literacy. Want to test that assumption? 11. The larger the down payment, the lower the principal, An example of identity theft is when an individual, Uses another person's information to open an account, It is generally a good idea to borrow money and repay the amount borrowed with future income, A person needs to buy a car to get a much better paying job. PERSONAL FINANCIAL LITERACY EVENT New for 2014-2015, DECA’s Personal Financial Literacy Event measures the personal inance knowledge and skills that students should possess. Items have been randomly selected from the MBA Research Center’s Test-Item Bank and represent a variety of instructional areas. He is withdrawing the money today from a $3,000 certificate of deposit (CD), Pay the bank a penalty for early withdrawal, When a check is returned due to insufficient funds, the check is said to have, A form of payment that is guaranteed to be as good as cash is a, Deposits in bank savings accounts are insured by the Federal Deposit Insurance Corporation. DECA members meeting the minimum score requirements on the new Personal Financial Literacy Exam at the chartered association and ICDC levels of testing will be eligible to obtain financial literacy certification through Work In Support of Education (w!se). Which of the following would be considered an asset? This is best paired with set two of this. What are financial literacy skills? do’s and dont’s of personal financial literacy. D. finding another source. A person earned a salary of $70,000 last year. Which of the following would be the, The stock price of a corporation is most likely to increase when the corporation announces a, A method of reducing investment risk is known as, Profit from the sale of stocks, bonds, or real estate is called, A company that sells shares of ownership through a stock exchange to investors is a, One of the main reasons for buying a stock mutual fund is that it is, Investments with greater potential returns generally have higher. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Hillary and Stephanie have both borrowed $15,000 from the same bank to buy the same model. Which of the following can help a person lower her personal risk of loss? This is a broader test that measures their ability to earn money and manage their personal finances. 1. ... On Sale! Putting $100 in a savings account today and earning 4% interest over the next year illustrates the concept of A. principal modification. The Written Events are a maximum of two entries per event and do NOT have to be balanced. Which one of the following statements is the most accurate about the use of ATM cards? Which of the following describes what happens during a depression? essentially EVERYONE in your chapter will be assigned to an event by October 1…. Take this Financial Literacy Test and see how much you really know about personal finance. In order for the, Many companies offer a service to electronically deposit an employee's net pay into his, When a person cashes a $300 check and only receives $285, she most likely went to a/an, Pay for purchases directly from a checking or savings account, The highest interest rate on a loan is charged by a, When a person asks her bank not to honor a specific check, it is called. Write. Learn. Each of these events have been categorized into the career clusters of marketing, business management and administration, finance, hospitality and tourism, as well as personal financial literacy and entrepreneurship. Which of the following individuals has financial problems? D-Personal Financial Literacy In-depth lessons, videos, practice role plays, and practice exams are available for DECA competitors as they prepare for the PFL … This event is ideal for DECA members who are enrolled in personal finance and financial literacy courses. She was able to buy a new Apple, If a driver receives several traffic tickets, the cost of the car insurance will probably, Money that a person pays to an insurance company for a policy is called a, Before a person can receive money to cover the damage from a car accident, he must. Which of the following helps to build a strong credit history? The ONLY event open is Leadership. Competition is one of the many activities you can do while in DECA. When registering for your events, the students are slotted into events and need to be balanced. A low credit score can negatively affect a person's ability to, One difference between a debit card and a credit card is that, Debit card payments are immediately deducted from the person's bank account, An advantage of having a credit card is that it helps a person to, Limit the amount of cash she has to carry. There’s a simple way to tell: The 3 Questions to Measure Financial Literacy. from $ 7.00 $ 15.00. 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