Topic Review: Personal Financial Literacy

Quiz by Texas Education Agency

Mathematics
Texas Essential Knowledge and Skills (TEKS)

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### Measures 3 skills fromGrade 3MathematicsTexas Essential Knowledge and Skills (TEKS)

3.9.B: Personal Financial Literacy
3.9.D: Personal Financial Literacy
3.9.A: Personal Financial Literacy

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4 questions
• Q1
Bad weather destroyed most of the peaches on the peach trees in an orchard. This will have an effect on the price of the remaining peaches. Which statement best describes the effect on the price?
The price will likely increase, because there are fewer peaches available to buy.
The price will likely decrease, because there are fewer peaches available to buy
The price will likely increase, because there are more peaches available to buy
The price will likely decrease, because there are more peaches available to buy.
60s
3.9.B: Personal Financial Literacy
• Q2
Claire borrowed \$20 from her mom in order to buy game tokens at a festival. Her mom said Claire would have to pay the money back with interest. Which statement best explains what Claire’s mom meant?
She expected Claire to keep the money she borrowed and not pay any of it back.
She expected Claire to pay back the money she borrowed plus an additional amount of money.
She expected Claire to pay back only part of the money she borrowed.
She expected Claire to pay back only the money she borrowed.
60s
3.9.D: Personal Financial Literacy
• Q3
Mrs. Williams borrowed \$6,000 from a bank to pay for some home repairs. She paid \$7,500 back to the bank. Which of these is the most likely reason Mrs. Williams paid the bank more than the amount she borrowed?
She actually needed more than \$6,000 for the home repairs.
She made a mistake in calculating the amount she needed to pay back.
She had to pay sales tax on the amount of money she borrowed.
She had to pay interest on the amount of money she borrowed.
60s
3.9.D: Personal Financial Literacy
• Q4
A city pays each police officer for the work the police officer does. Which factor would most likely not affect the amount of money this city pays a police officer?
The level of education that the police officer has
The special skills that the police officer has
The size of the police officer’s family
The number of years the police officer has worked for the city
60s
3.9.A: Personal Financial Literacy

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