This quiz works best with JavaScript enabled. Home > Economics > Finance > Management > Money Management – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Management Quiz 4 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. How many months of salary should you have in an emergency fund? A) 1 Month. B) 3 months. C) 3 years. D) None. Show Answer Correct Answer: B) 3 months. 2. 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: A) Credit card. B) Traveler's check. C) Identification card. D) Cash card. Show Answer Correct Answer: D) Cash card. 3. A written budget, if followed, removes ..... from your finances. A) Overspending. B) Guilt. C) Management by crisis. D) All of the above. Show Answer Correct Answer: D) All of the above. 4. 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. A) Income. B) Salary. C) Profit. D) None of above. Show Answer Correct Answer: C) Profit. 5. Money received from working A) Debt. B) Commission. C) Income. D) Interest. Show Answer Correct Answer: C) Income. 6. 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? A) Financial term. B) Long term. C) Short term. D) Medium term. Show Answer Correct Answer: D) Medium term. 7. When income is greater than expenses A) Net gain. B) Mortgage. C) Expense. D) None of above. Show Answer Correct Answer: A) Net gain. 8. The minimum wage is $ 8.25 A) Never. B) Sometimes. C) True. D) False. Show Answer Correct Answer: D) False. 9. Living quarters, car, uniform, lunch, health insurance premiums which is sometimes given to employees A) Net Income. B) Fringe benefit. C) Barter. D) None of above. Show Answer Correct Answer: B) Fringe benefit. 10. What are living cost that differ each time? A) Earned income. B) Variable expense. C) Budget variance. D) Exemption. Show Answer Correct Answer: B) Variable expense. 11. Setting financial goals is the ..... step in creating and using a budget. A) Third. B) First. C) Second. D) Final. Show Answer Correct Answer: B) First. 12. ..... 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. A) Banking. B) Money management. C) Pay check. D) None of the above. Show Answer Correct Answer: B) Money management. 13. Which is NOT a strategy for increasing your savings? A) Pay yourself first. B) Payroll savings. C) Borrow money. D) Spending less to save. Show Answer Correct Answer: C) Borrow money. 14. Which of the following careers would be possible choices for someone interested in money and finance? A) Psychologist. B) Musician. C) Social worker. D) Insurance actuary. Show Answer Correct Answer: D) Insurance actuary. 15. The money that you receive for mowing the lawn, babysitting or making good grades is called ..... A) Income. B) Interest. C) Credit. D) Debt. Show Answer Correct Answer: A) Income. 16. An advantage of Barter is A) You can use money. B) It is a quick process of trade. C) More goods can be acquired. D) It is flexible in trading goods or services. Show Answer Correct Answer: D) It is flexible in trading goods or services. 17. What is saving a certain amount of money to be used later for financial goals called? A) Spending Log. B) P.Y.F. (pay yourself first). C) Emergency fund. D) Cash flow. Show Answer Correct Answer: B) P.Y.F. (pay yourself first). 18. Which of the following is not an asset: A) Cash in your wallet. B) The market value of your house. C) The amount of money you will be paid next month. D) Your prized stamp collection. Show Answer Correct Answer: C) The amount of money you will be paid next month. 19. When renting a home, what term refers to the owner of the home? A) Boss. B) Coach. C) Tenant. D) Landlord. Show Answer Correct Answer: D) Landlord. 20. Shirley worked 30 hours this week. Will Shirley be considered a part time or full time employee? A) Part time. B) Full time. C) None. D) None of above. Show Answer Correct Answer: A) Part time. 21. Fixed expenses are: A) The same every month. B) Different every month. C) Unwanted expenses. D) Unneeded expenses. Show Answer Correct Answer: A) The same every month. 22. You can save money on college by ..... A) Using your credit card to pay for your tuition. B) Taking college-level classes in high school. C) Getting good grades. D) Making a budget. Show Answer Correct Answer: B) Taking college-level classes in high school. 23. ..... income is the result of earnings from dividends, interest, and rent. A) Adjusted. B) Earned. C) Tax-exempt. D) Investment. Show Answer Correct Answer: D) Investment. 24. The consumer receives goods after paying money. A) A standard of deferred payment. B) Store of value. C) Measure of value. D) Medium of exchange. Show Answer Correct Answer: D) Medium of exchange. 25. What is a tax-sheltered retirement plan? A) IRA. B) Financial plan. C) Tax deduction. D) Tax credit. Show Answer Correct Answer: A) IRA. 26. Which is an example of a "real" investment by a consumer? A) Mutual fund. B) Savings account. C) Stocks. D) New home. Show Answer Correct Answer: D) New home. 27. A plan for your estimated income, expenses, and savings A) Credit Rating. B) Financial Goals. C) Bankruptcy. D) Budget. Show Answer Correct Answer: D) Budget. 28. To sign the back of your check is to: A) Endorse. B) Direct Deposit. C) Reconcile. D) None of above. Show Answer Correct Answer: A) Endorse. 29. Paying with a ..... ..... takes cash of your checking account. A) Credit card. B) Debit Card. C) Gift Card. D) None of above. Show Answer Correct Answer: B) Debit Card. 30. T is important to save for the following reasons: A) To meet long term and short term goals. B) To build wealth. C) To protect against unexpected crisis (emergency, loss of job). D) All of the above. Show Answer Correct Answer: D) All of the above. ← PreviousNext →Related QuizzesFinance QuizzesEconomics QuizzesMoney Management Quiz 1Money Management Quiz 2Money Management Quiz 3Money Management Quiz 5Money Management Quiz 6Money Management Quiz 7Money Management Quiz 8Money Management Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books