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Money Management Quiz 3 (25 MCQs)

Quiz Instructions:

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1. This is a legal proceeding involving a person or business that is unable to repay outstanding debts.
2. What's differences in actual and budget cost?
3. The difference between the budgeted amount and the actual amount you spend
4. _____ is in essence a loan of money
5. All of the following are legal ways of earning money except
6. Buying on the spur of the moment without thinking about the need of the item is referred to as
7. If I have 7 dimes, 7 pennies, and 2 nickels, how much money do I have?
8. Jami lost her debit card. She did not report it missing for 3 months. If an unauthorized person used her debit card, her maximum liability is:
9. What percentage of Americans have no savings at all?
10. The advantages of using credit cards include
11. What is the first thing you must do to create a spending plan?
12. Anything generally/universally accepted for payment of goods and services is called
13. What happens to your credit score if you make your payments on time and at the minimum amount.
14. An important part of financial planning is to _____
15. How many months of salary should you have in an emergency fund?
16. Nora needed to make a long-distance call from a pay phone and did not have the cash. She was able to make the call by using her:
17. Which word below WOULD NOT fit in this sentence:The money you earn by having a job is called _____ and is often called a _____, or wage.
18. Money received from working
19. Shaunda wants to buy her grandmother's car to drive back and forth to college next year. Her grandmother agrees to sell Shaunda the car for $ 1, 200 in the next 6 months. This is an example of what type of goal?
20. When income is greater than expenses
21. The minimum wage is $ 8.25
22. Living quarters, car, uniform, lunch, health insurance premiums which is sometimes given to employees
23. What are living cost that differ each time?
24. _____ refers to how you handle all aspects of your finances, from making a budget for where each paycheck goes to setting long-term goals to picking investments that will help you to reach those goals.
25. Which is NOT a strategy for increasing your savings?
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