Financial Responsibility Mental and Legal Competency Test

By

Anthony J. Fejfar, B.A., J.D., M.B.A., Phd., Esq., Coif

Member, United States Supreme Court Bar

A Legal Opinion

(C)Perpetual Copyright (2011) by Anthony J. Fejfar and Anthony J. Faber,

and, Neothomism, P.C. (PA)

This is a Mental and Legal Competency Test for Financial Responsibility which is used in

order to determine if a person is in need of a Financial Guardian. The questions are as follows:

1. If you have a checking account with a Bank with a balance of $500, and you withdraw
$200 in cash, what is your remaining balance in your checking account?
A. $1000
B. $200
C. $300
D. $700

2. If you go to the grocery store and have $5.00 in cash with you and you buy a
candy bar for $1.40, how much change should you get back from the check out
clerk?
A. $2.00
B. $3.00
C. $3.60
D. $2.60

3. If you add $2.00 and $7.00 what is the total amount of cash which you have?
A. $6.00
 B. $9.00
C. $10.00
D. $11.00

4. If you sell a toy doll at a garage sale for $3.00, and you sell a toy horse at the same
garage sale for $6.00, how much money do you have all together?
A. $7.00
B. $11.00
C. $12.00
D. $9.00

5. If you buy a candy bar at the grocery store for $1.00, and sales tax of 5% is added,
then what is the total amount that you have to pay for the candy bar?
A. $1.00
B. $2.00
C. $1.05
D. $0.95

6. If a package of cookies is sold at the grocery store for $1.00 and the grocery store
has a sale, offering the cookies at a price of 40% off, how much will you have to
pay for the cookies at the sale price?
A. 20 cents
B. 40 cents
C. 60 cents
D. 80 cents

7. If a pack of chewing gum is sold at the grocery store for 20 cents, and you buy
3 packs of chewing gum, how much will you have to pay for the 3 packs of
chewing gum together?
A. nothing
 B. 60 cents
C. 80 cents
D. 20 cents

8. If bananas sell at the grocery store for 20 cents a pound, and you buy 4 pounds
of bananas, how much will you have to pay for the 4 pounds of bananas
altogether?
A. 20 cents
B. 40 cents
C. 60 cents
D. 80 cents

9. If a gallon of gasoline sells at the gas station for $2.50 gallon, and you buy 4 gallons
of gasoline at the gas station, how much do you have to pay the gas station
clerk?
A. nothing
B. $8.00
C. $12.00
D. $10.00

10. If you buy a shirt at a department store for $19.00, and you give the clerk a
Twenty Dollar Bill, how much change will you get back from the clerk?
A. nothing
B. $2.00
C. $3.00
D. $1.00
11. If you put $1,000 in a bank savings account for one year which pays
interest on the account of 10% per year, how much money will you
have at the end of the year when the interest is posted to your
savings account?
A. $1,000
B. $1,200
C. $1,100
D. $900

12. If you have a business account which is a credit type account which has
a credit balance of $2,000, and you debit that account $300, how much
money will be left in the account after the debit transaction?
A. nothing
B. $800
C. $700
D. $1,700