Senior 4 Consumer Mathematics (40S) Standards Test. Written Test Student Booklet

Transcription

1 Senior 4 Consumer Mathematics (40S) Standards Test Written Test Student Booklet June 2006

2 Copyright 2006, the Crown in Right of Manitoba, as represented by the Minister of Education, Citizenship and Youth. Manitoba Education, Citizenship and Youth, Instruction, Curriculum and Assessment Branch, Winnipeg, Manitoba R3E 3J5 Permission is hereby given by the copyright owner to reproduce this document on a non-profit basis for educational purposes provided the source is mentioned.

3 Senior 4 Consumer Mathematics (40S) Standards Test June 2006 Written Test Student Booklet DESCRIPTION Total Possible Marks: 38 Maximum Time: 90 minutes This component of the test consists of six parts: Learning Unit Suggested Time to Complete Marks Personal Finance minutes 6.5 Government Finances minutes 8 Statistics minutes 6.5 Variation and Formulas minutes 8 Investments minutes 6 Design and Measurement minutes 3 GENERAL DIRECTIONS You may use the resource package containing formulas and tables. Use of a scientific calculator and ruler may be necessary. Graphing calculators are not permitted. Read all instructions on the test carefully. If you need more space to answer a question, extra pages may be provided by your teacher. Write your booklet ID number and question number on any extra page(s) used and staple the additional pages into the booklet where your answer begins. - i -

4 Remember to: show all your work in this booklet; use your resource package; use a scientific (non-graphing) calculator; and use a ruler. - ii -

5 DIRECTIONS Show complete answers in the space(s) provided in your student booklet. Let the mark values for each question guide you in answering the question. Show all your work. Be sure to include units in your final answer. Use your resource package. Provide explanations and justifications. Use a well-organized method to communicate your answer. Directing Words Some questions may include directing words such as explain, illustrate, and calculate. These words are explained below. The Word identify/list/name/state defend/justify/support describe/explain/express illustrate/sketch draw calculate/convert /determine/find plot The question is asking for a label or title of an item, concept or method an explanation, information, or evidence that shows why your method, idea or answer is good words or symbols, diagrams, a chart or graph, or other methods that clearly show what you mean or what you are thinking a reasonably neat picture or diagram (not necessarily to scale) that shows or explains an idea or method a diagram to scale or graph that shows or explains an idea or method a mathematical formula or algebraic equation or numerical calculation to solve a problem placement of a point or points on a graph PLEASE WAIT UNTIL THE TEACHER TELLS YOU TO TURN THE PAGE. - iii -

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7 Personal Finance 1 Mark 1. Mrs. Cunningham wishes to buy homeowner s insurance for a house in Winnipeg. She chooses comprehensive coverage and insures the house for $ Calculate the increase in Mrs. Cunningham s annual premium if she chooses a $200 deductible rather than a $500 deductible Marks 2. Susan bought a $ whole-life insurance policy at the age of 25. At 55 she decided to cancel her life insurance. Determine the cash surrender value of the policy. 116 Written Test Student Booklet Consumer Mathematics (40S) June 2006 Page 1

8 2 Marks 3. Paul and Mary are buying a house worth $ They have saved up $ to use as a down payment. One financial institution offers them a 5% annual interest rate loan while another offers them 4.75%. Both mortgages will be amortized over a 20-year period. Calculate the difference in monthly payments Marks 4. Susie earns $3 800 a month. She pays $120 per month for heating and $220 per month in property taxes. Calculate her maximum monthly mortgage payment if she must not exceed a Gross Debt Service Ratio (GDSR) of 32%. 118 Page 2 Written Test Student Booklet Consumer Mathematics (40S) June 2006

9 Government Finances 1 Mark 5. Calculate the excise tax due on a wristwatch imported from Switzerland that has a value of $400 Canadian. 119 Written Test Student Booklet Consumer Mathematics (40S) June 2006 Page 3

10 2 Marks 6. Provincial Operating Expenditures, 1999/2000 Major Categories Percentage of Total Health: 35.5% Public Debt Costs: 8.0% Justice and Other Education and Government: 8.2% Training: 19.8% Economic and Resource Development: 11.8% Assistance to Local Support to Governments and Families: 11.8% Taxpayers: 4.9% Using the Provincial Operating Expenditures chart above, answer the following: A) The total Provincial Operating Expenditures for 1999/2000 was 6 billion dollars. Calculate how much of that money was spent on everything except Health. (1 mark) 120 B) The provincial government has decided to increase expenditures to Health. Identify from which category the money should be taken. Justify your selection. (1 mark) 121 Page 4 Written Test Student Booklet Consumer Mathematics (40S) June 2006

11 1 Mark 7. A company buys euros worth of gold jewellery from Italy. Calculate the value of this purchase in Canadian funds, excluding taxes Mark 8. Calculate the amount of provincial unleaded gasoline tax on a purchase of 20 litres of gasoline at a cost of 72.5 per litre. 123 Written Test Student Booklet Consumer Mathematics (40S) June 2006 Page 5

12 1 Mark 9. Calculate the tobacco tax paid on the purchase of 300 grams of loose tobacco Marks 10. Abduhl s property consists of a home that has a market-assessed value of $ and land that is assessed at $ The portion percentage on this property is 45%. The municipal tax rate is 24.6 mills. Calculate the municipal tax Abduhl will have to pay. 125 Page 6 Written Test Student Booklet Consumer Mathematics (40S) June 2006

13 Statistics 1 Mark 11. The following graph illustrates the relationship between the number of cigarettes smoked per day and the average life expectancy of a person. 126 Impact of Smoking on Life Expectancy 80 Average Life Expectancy(years) Number of Cigarettes Smoked (per day) This graph represents a: A) strong positive correlation. B) weak positive correlation. C) weak negative correlation. D) strong negative correlation. Answer: Written Test Student Booklet Consumer Mathematics (40S) June 2006 Page 7

14 2 Marks 12. An orange farmer finds that the branch life of an orange follows a normal distribution with a mean branch life of 90 days and with a standard deviation of 8.5 days. A) What percent of oranges come off the tree after 73 days? (1 mark) 127 B) The farmer s orchard produced boxes of oranges and each box holds 70 oranges. How many oranges would have been on the tree for more than 107 days? (1 mark) 128 Page 8 Written Test Student Booklet Consumer Mathematics (40S) June 2006

15 1.5 Marks 13. Bob wrote an entrance exam along with 449 other people. Ninety people scored below him and 79 other people scored the same as Bob. Determine his percentile rank Mark 14. Explain both percent and percentile. 130 Written Test Student Booklet Consumer Mathematics (40S) June 2006 Page 9

16 1Mark 15. Two classes in the same school each had mean scores of 60% on a recent test. Class A had a standard deviation of 5% while Class B had a standard deviation of 10%. Explain why each class may be considered the better class in terms of their actual scores. 131 Page 10 Written Test Student Booklet Consumer Mathematics (40S) June 2006

17 Variations and Formulas 3 Marks 16. At the beginning of the walkathon, Carol was 500 metres away from Fred. After one minute, she had travelled half the distance towards Fred. She continued travelling half the remaining distance between them every minute. A) Complete the table to show how far away Carol is from Fred. (1 mark) 132 Time in minutes Distance in metres B) Draw a graph of this variation. (1 mark) 133 The Walkathon Distance (in metres) Time (in minutes) C) Identify the type of variation. (1 mark) 134 Written Test Student Booklet Consumer Mathematics (40S) June 2006 Page 11

18 2 Marks 17. Find the radius of a circle that has an area of 628 cm Marks 18. The cost of renting a hall is based on a fixed cost and a cost per person. When the hall is rented for 200 people, the cost is $150. When the hall is rented for 600 people, the cost is $350. Number of People Cost ($) Calculate the cost of renting the hall for 900 people. 136 Page 12 Written Test Student Booklet Consumer Mathematics (40S) June 2006

19 Investments 1.5 Marks 19. A broker charges a 3% commission on all sales of stock. Calculate the total cost of purchasing 300 shares of a stock worth $12.48 each Mark 20. A) Provide and explain an appropriate financial goal for the average 20-year-old. (0.5 mark) 138 B) Provide and explain an appropriate financial goal for the average 50-year-old. (0.5 mark) 139 Written Test Student Booklet Consumer Mathematics (40S) June 2006 Page 13

20 2.5 Marks 21. The Kiljoy family visited a financial planner and discovered that they had a net worth of $ Their total liabilities are $ including their mortgage of $ A) Calculate the total value of their assets. (0.5 mark) 140 B) Calculate their Debt Equity Ratio if they borrow $3 000 for a winter holiday. (2 marks) Mark 22. Describe the relationship between Risk and Yield/Rate of Return. 142 Page 14 Written Test Student Booklet Consumer Mathematics (40S) June 2006

21 Design and Measurement 23. Bobbie wants to build wooden open-top storage bins. Each bin will be 2 ft 2 ft 2 ft. One 4 8 sheet of plywood will cost $28.50, taxes included. 3 Marks A) Calculate how many bins Bobbie can make for $120. (2 marks) 143 B) Calculate how many square feet of plywood Bobbie has left after her project is complete. (1 mark) 144 Written Test Student Booklet Consumer Mathematics (40S) June 2006 Page 15

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