Home' Trinidad and Tobago Guardian : June 15th 2015 Contents Guardian www.guardian.co.tt Monday, June 15, 2015
21. The couple's meals consisted of beans, with what
frequency do they eat beans?
22. What do the beans symbolise?
B. Casual Dinning
23. The word yellow as used in (line 1) is MOST likely as-
A. Their race
B. Their age
C. Their lifestyle
D. Their lack of courage
bacco crumbs, vases and fringes
By Gwendolyn Brooks
DIRECTIONS: Read the passage carefully before attempting the questions. Each question has four options, select
the most appropriate answer, based on what is contained or implied in the passage.
FINANCIAL ADVICE FOR TEENS FROM TEENS
Last year, Charles Schwab conducted a study asking teens
about their perspective on money and the importance of
properly managing it. Here are some of the results:
93% of teens said their family was affected by the recession.
75% said learning more about money management is a top
priority for them.
59% think that they will do better financially than their par-
Even more interestingly, 77% considered themselves finan-
cially savvy, yet only 31% reported knowing how credit card
interest and fees work -- or even what a credit score is.
While the recession has encouraged parents to talk about the
importance of money management with their kids, those
conversations aren't adequate preparation for the real world.
Most teens are still entering life after high school without the
knowledge necessary to properly manage their finances. It's
no wonder: In 2011, only 20 states required that personal fi-
nance be taught to students in some form -- and not even
necessarily through a dedicated personal finance class.
The results of the most recent National Financial Capability
Challenge aren't any more encouraging.
The Challenge tests teens' financial knowledge about every-
thing from earning and saving money to taxes and insurance.
The national average for 2012 was only 69% -- barely passing
on most grading scales.
We caught up with three students who did exceptionally well
on the Challenge and asked them where they got their money
These three students all had important resources to thank
for their financial know-how: parents who taught them the
importance of money management at a young age and con-
tinued through their lives, and the opportunity to take a per-
sonal finance class at their high school in Mansfield, Mass.
Max Kinney, 17, and Chris Nugent, 18, both received perfect
scores on the National Financial Capability Challenge, and Car-
los Gomez, 18, was awarded a scholarship for also being a top
We asked them to share their top money management tips
for fellow teens, and here's the advice they gave:
1. Find a way to save. No matter how small. Max says he
first started saving when he was 7 because he wanted a
video game console. The savings habit stuck and he's contin-
ued saving since then, dedicating the past few years to saving
for college. "Teenagers may not have a regular pay check," he
says, "but they do receive money from gifts and odd jobs.
They need to always save some of that money every time
they get some."
No surprise, all three of the financial teen gurus cited savings
as something that should be a top priority for their peers.
Whether it's a little or a lot, putting money in a fee-free sav-
ings account that offers interest is a smart way to grow your
2. Stay away from credit cards. Carlos wants to give his
peers a heads-up about the dark side of using credit cards:
"Be careful of credit cards, because they are a good thing if
you know how to use them wisely, but they can lead you into
a spending spree, and into debt."
The danger of debt is something that Chris learned about at
an early age: "In middle school I read an article which stated
that if a young couple spent $5,000 on a credit card and if
that couple only paid the minimum payment each month, it
would take over 30 years and over $30,000 to pay off that
3. Budget. Chris advises his fellow teens to become more
aware of how much they spend and on what: "Only through
tracking expenses and budgeting will you fully be able to un-
derstand where your money is going," he says. The only way
to figure out how to save more is to see exactly where your
money goes, he says.
(Article by Amanda Buchanan, The Motley Fool
Continued on the next page
24. What literary technique does the speaker use in (line
25. In (line 4) "Tin Flatware" refers to
A. The brand of utensils
B. The type of utensil
C. The condition of the utensils
D. The material used to make the utensils
26. The speaker describes the couple as being "mostly
A. They have live a decent life
B. They have enjoyed good times
C. They are normal everyday people
D. They have had some challenges
27. The fact that the couple "keep on putting on their
clothes," indicates they
A. have a sense of purpose
B. are delusional
C. keep busy
D. are hopeful
28. The memories recounted by the couple are of
A. Old and new
B. Pain and suffering
D. Joy and pain
29. What does the couple's possessions of beads and re-
ceipts, vases and fringes represent
B. Old treasures
C. Unkempt surroundings
D. The size of their accommodation
30. The speaker's attitude towards the subject reflects
31. The primary reason for conducting the study was
A. To determine what value teens place on money
B. To get the teens perspective on money
C. To see how much teens knew about money
D. To get the perspective of teens' on money and
32. What percentage of teens felt they were better
equipped to manage money than their parents?
33. In (line 6) the writer uses the term "financially savvy"
A. Financially alert
B. Financially equipped
C. Financially knowledgeable
D. Financially sound
34. How would you describe the overall results of the
35. What did the results of the National Financial Capabil-
ity Challenge reveal?
A. 31% of teens failed to meet the standards
B. 69% of teens met the standard in some categories
C. 69% of participants excelled in all rankings
D. 69% of respondents participated in the challenge
36. Based on your understanding of the text, what have
parents failed to do?
A. Prepare their children to face the real world.
B. Educate their teens about the real value of money.
C. Teach teens how to read and interpret financial
D. Equip their teens to handle money and make wise
37. Who does the writer feel is ultimately responsible for
the absence of financial classes?
38. The writer's viewpoint that there is need for financial
learning is supported by
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