Assessment Tools

This unit consists of a variety of ways to assess students knowledge. It

starts off with a pre-assessment quiz made up of 20 multiple choice and
true/false questions. This pre-assessment measures their amount of
knowledge about different saving types, different ways to invest, the risks
and benefits of different types of investments, vocabulary, and how to make
smart choices. The post assessment starts with the exact same 20 questions,
but then has an additional five questions added to them end to further test
their knowledge. It also contains an open-ended question about what
compound interest is. Throughout the remaining lessons there are many
ways students are formally and informally assessed. There are group
assessments, self-assessments, authentic assessments, and discussions.
Lesson 1: In the first lesson, students are given the pre-assessment. After the
pre-assessment,
they are given a self-guided project that allows them to test their own
deduction skills
and helps them discover the differences between
a variety of saving types. Then they work in groups to present one of
the different saving types. Their presentations will allow me to assess
what knowledge they were able to gain on their own, and then I can
add any additional information.
Lesson 2: In the second lesson students will be given scenarios of different
peoples saving
goals. Using the information they learned from the previous lesson
students will
determine what type of savings account would be best to fit their
needs and why. As
a class we will discuss what each group thought. There are no
specifically correct
answers. This will allow me to see how students are understanding
the information
given. It will also help them connect the information to real life and
understand how
to use the different saving types. After we discuss the scenarios,
students will create
posters with vocabulary terms. I will go around to each group and
make sure the
groups have the correct definitions and if they need to add any
information. Then
students will go around to each poster and create their own
vocabulary lists. I have
them write their own vocabulary lists because studies have shown
that when

students write information down on their own they do a better job of

recalling it later
than if they were just given a printed list of vocab words.
Lesson 3: This lesson has a guest speaker that has interactive activities to
help students
understand ways to pay and save for college. She talks about
how to apply for
scholarships, what they can be doing right now to improve their
chances of getting
college paid for, and helping them set up their online profiles on
Naviance. She will
show them the benefits with Naviance and how it can help them
select the college
that is best for them. It also shows them what GPA they need to get
into the college
they want and what score they would need to get on their ACT.
Through discussion
and what the students do on Naviance we will be able to tell if the
students are
understanding how to use Naviance and what they can start doing
now to help with
their college finances later.
Lesson 4: This lesson on compound interest and investing has multiple ways
of assessing
student learning. There is a compound interest activity we do
throughout the whole
class where students have fake money and their money
compounds every 20 minutes
in class. They are allowed to spend it at the class store
whenever they want during
the class. This activity helps us to determine if the students are
understanding the
concept of compounding as well as if they are able to practice
delayed gratification.
Lesson 5: This lesson helps students review the previous information they
have learned in this
unit. The students will use a Kahoot to review and then take the
final postassessment. The post assessment is the same as the preassessment with the
addition of five more questions, one of which is a short answer
question.

Name:______________________

Banking, Saving, Investing Quiz

1. Which of the following investments is the Least liquid?
a. Checking accounts
b. Savings accounts
c. Certificates of deposit (CDs)
d. They are all equally liquid
2. The more liquid an investment is, the more earning potential it is likely
to have.
a. True
b. False

3. Which of the following is true of a BANK as opposed to a credit union?

a. Insured by the NCUA
b. Non-profit that makes no money from its customers
c. More locations for convenience
d. Usually joined by members with something in common (i.e. a
certain profession)
Please match the type of bank account to the statement that is true about it.
4. Checking account ______
for emergencies
5. Saving account ______
government insured
6. CD(certificate of deposit) _____
no/low interest
7. Money Market account _____
higher interest

a. Low interest account used

b. Minimum amount required,
c. Most liquid type of account,
d. Penalty for early withdrawal,

8. If you invest in a variety of investments, this is called:

a. Liquidity
b. Financial stability
c. Diversification
d. Investment return
9. A small unit of ownership in a company (and sharing in its profits) is
called a:
a. Stock
b. Bond
c. Mutual fund
d. Money market
10.
When it comes to planning for retirement, it is better to start
saving when?
a. Only once you have a large amount to put into an account
b. When you are young, even if its a small amount
c. You only need to start 10 years before your retirement
d. It is different for everyone, there is no set guideline
11.
Interest computed on the original principle plus accumulated
interest, is called compounded interest.
a. True
b. False

12.
a.
b.
c.
d.
13.
a.
b.
c.
d.

Which of these investments is Not subject to income taxes?

Corporate bonds
Stocks
Mutual bonds
Municipal bonds
The rule of 72 is useful in calculating
Where a person should invest their money
The amount of money the FDIC will insure in a savings account
The time required to double an investment
The minimum amount of money you must keep in a savings
account

e.
14.
Which of the following is Not a savings tool offered by financial
institutions?
a. Mutual funds
b. Money Market account
c. Certificate of deposit
d. Savings account
15.
Which financial institution offers the widest variety of banking
services?
a. Commercial banks
b. Savings banks
c. Credit unions
d. Brokerage firms
16.
a.
b.
c.
d.

The amount the bond holder will be repaid at maturity is called

Equity
Fixed Income
Face value
Assets

17.
When deciding on a savings account, it is most important to
consider
a. Liquidity
b. Convenience
c. Yield
d. All of the above are equally as important to consider
18.
a.
b.
c.
d.

Bonds are
Loans that corporations must repay at face value, with interest
Paid at a specified interest at regular intervals
A fixed income investment
All of the above

19.
Which of the following ways of paying for college need to be paid
back?
a. FAFSA
b. Frants
c. Student loans
d. All of the above
20.

Purchasing valuable goods is one way to invest.

a. True
b. False

21.
basis
a.
b.
c.
d.

The actual interest rate an account earns stated on a yearly

is called
Annual Report
Compounded interest
Annual Percentage Yield
Interest

22.
The risk that the value of an investment will decrease due to
moves in market factors is called
a. Risk averse
b. Market Risk
c. Risk
d. Supply and demand
23.
When filling out your W4 when you first start a job, if you put 1
allowance that means
a. Less taxes will be taken out of each paycheck and you will get a
bigger refund
b. More taxes get taken out and you get a bigger refund
c. Less taxes get taken out and you get a smaller refund if any
d. More taxes get taken out and you get a smaller refund if any
24.
Money paid to stockholders from the corporations earnings is
called
a. Face Value
b. Dividends
c. Interest
d. Profit
25.
Explain how compounded interest works, compared to regular
interest.