Part 1 of 2 of the mid-term exam on Wednesday April 9th

At the end of our last class on Wednesday March 26th, I distributed the take-home part (Part 2) of the mid-term exam.  If you weren't able to make that class, you can access Part 2, you can do so by clicking on this link.  Bring your answers in to next class on April 9th, when everyone will be asked to complete the in-class (Part 1) part of the mid-term exam.  

What should you know for Part 1 (the in-class part of the mid-term)?

Here is a list of terms and definitions that I will ask about in short-answer, multiple choice, true/false, or fill-in-the-blank format: 

• examples of wants vs. needs
• budget
• budget surplus/deficit
• SMART goals
• net income
• deductions
• net pay vs disposable income
• net worth
• earned income
• inflation, the average rate of inflation in the U.S. since the 1920's
• FICA tax
• W-2 vs W-4 form
• exemptions/allowances
• retirement savings plans (Roth IRA, traditional IRA, 401K)
• examples of good uses of credit vs bad uses of credit
• fixed expenses vs variable expenses vs periodic expenses
• APR

You can use the entire period on Wednesday April 9th to complete both Part 1 and Part 2 of the mid-term exam.

Good luck!