This quiz works best with JavaScript enabled. Home > Economics > Finance > Management > Money Management – Quiz 14 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Management Quiz 14 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. In case of emergency you should have what ..... A) Money Saved. B) Good Credit. C) Credit Card. D) Budget Plan. Show Answer Correct Answer: A) Money Saved. 2. The first set of numbers on the bottom of a check are called the: A) Routing numbers. B) Account numbers. C) Check Numbers. D) None of above. Show Answer Correct Answer: A) Routing numbers. 3. Which of the following would be a personal asset? A) Your personal computer. B) Your car payment. C) Your college loan. D) Your home mortgage. Show Answer Correct Answer: A) Your personal computer. 4. Putting money aside to use in the future is known as? A) Credit. B) Amount. C) Spending. D) Saving. Show Answer Correct Answer: D) Saving. 5. At the end of the month, the money I haven't spent is ..... A) Spent quickly. B) Income. C) Savings. D) Expenses. Show Answer Correct Answer: C) Savings. 6. When purchasing a vehicle, the most important things to compare are A) Safety & costs. B) Safety & color. C) Colors & cost. D) Color. Show Answer Correct Answer: A) Safety & costs. 7. Which of the following is a disadvantage of of the barter systemI The rate of exchangeII Storage of wealthIII Acquisition of goods A) I and II only. B) III only. C) I and III only. D) I, II and III. Show Answer Correct Answer: D) I, II and III. 8. What is tax deduction for taxpayer, spouse, and child? A) Allowance. B) Tax. C) Tax credit. D) Exemption. Show Answer Correct Answer: D) Exemption. 9. Setting aside money for future use is called? A) Loan. B) Income. C) Savings. D) Debt. Show Answer Correct Answer: C) Savings. 10. A federal student loan is provided by ..... A) Private companies. B) Investors. C) The state you live in. D) US Federal government. Show Answer Correct Answer: D) US Federal government. 11. ..... is borrowed money A) Credit. B) Liquid income. C) Minimum wage. D) Wages. Show Answer Correct Answer: A) Credit. 12. You should create a budget by ..... A) Writing down your monthly expenses. B) Making a list of everything you want. C) Finding how much college will cost. D) None of these. Show Answer Correct Answer: A) Writing down your monthly expenses. 13. People on the night shift get paid more because A) Shorter hours. B) Hard to find people to work. C) Longer hours. D) Day shift is preferred. Show Answer Correct Answer: B) Hard to find people to work. 14. Which is considered the least effective budgeting system A) Mental budget. B) Online budget. C) Written budget. D) Budget app. Show Answer Correct Answer: A) Mental budget. 15. Budgeting and living within it ensures secure A) Good friends. B) Loan account. C) Financial future. D) Credit rating. Show Answer Correct Answer: C) Financial future. 16. If you were in charge of buying milk for a family of five, but not everyone has breakfast at home every day, what kind of expense would the milk be? A) Variable essential. B) Non-essential. C) Non-variable. D) Fixed essential. Show Answer Correct Answer: A) Variable essential. 17. Income received in the form of goods, services and money A) Flexible Income. B) Fixed Income. C) Net Income. D) Gross Income. Show Answer Correct Answer: D) Gross Income. 18. If your planned expenses and savings are more than your income, then ..... A) Increase savings. B) Cut expenses. C) Reduce savings. D) Increase expenses. Show Answer Correct Answer: B) Cut expenses. 19. Financial Experts recommend monthly savings of ..... A) 5-10%. B) 20-30%. C) 1-2%. D) 100%. Show Answer Correct Answer: A) 5-10%. 20. What is a good reason to save money? A) To have money to buy things. B) To have money put aside for emergencies. C) For a future purchase. D) All choices. Show Answer Correct Answer: D) All choices. 21. Spending, saving, and investing your money so you can enjoy the kind of life you want, along with financial security is called ..... A) Surplus. B) Budget variance. C) Opportunity cost. D) Personal financial planning. Show Answer Correct Answer: D) Personal financial planning. 22. In creating her budget, Ann realizes that her expenses exceed her income. Ann should immediately try to: A) Open a investment account. B) Apply for a loan. C) Ignore her budget until she has more income. D) Reduce or eliminate some expenses. Show Answer Correct Answer: D) Reduce or eliminate some expenses. 23. A(n) ..... is the amount of money you plan to use for a certain budget category. A) Savings. B) Clothing. C) Fixed expenses. D) Allowance. Show Answer Correct Answer: D) Allowance. 24. A statement of something a person wants or needs to do is known as a A) Expense. B) Goal. C) Value. D) Cash Flow. Show Answer Correct Answer: B) Goal. 25. The amount of wages or salary earned before any deductions are taken out for taxes orother payroll deductions A) Mortgage. B) Savings. C) Gross income. D) None of above. Show Answer Correct Answer: C) Gross income. 26. Giving up the next best choice when making a decision is A) Fixed expense. B) Opportunity cost. C) Spending and saving plan. D) Emergency fund. Show Answer Correct Answer: B) Opportunity cost. 27. Money taken from your paycheck to go to other designated sources is called ..... A) Budget. B) Deductions. C) Expenses. D) Income. Show Answer Correct Answer: B) Deductions. 28. What is the first step of creating a personal balance sheet? A) Determine Your Liabilities. B) Calculate Your Net worth. C) Determine Your Assets. D) None of above. Show Answer Correct Answer: C) Determine Your Assets. 29. An employer pays money to whom for their work. A) Employees. B) Government. C) Citizens. D) CEO. Show Answer Correct Answer: A) Employees. 30. A debit card looks almost identical to ..... A) Your learners permit. B) Your state issued ID. C) A credit card. D) Your school ID (MAS is more). Show Answer Correct Answer: C) A credit card. ← PreviousNext →Related QuizzesFinance QuizzesEconomics QuizzesMoney Management Quiz 1Money Management Quiz 2Money Management Quiz 3Money Management Quiz 4Money Management Quiz 5Money Management Quiz 6Money Management Quiz 7Money Management Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books