Money Management Quiz 10 (20 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. Which of the following is NOT a need?

Correct Answer: C) Netflix.

2. How do most people purchase a home?

Correct Answer: C) With a down payment and a mortgage loan.

3. A series of regular payments made to a retired worker under an organized plan.

Correct Answer: A) Pension.

4. Which of the following is considered a need?

Correct Answer: C) A place to sleep.

5. All of the following can help increase your earning potential EXCEPT what?

Correct Answer: D) Reference Letters/Resume.

6. You have 7 dimes 2 nickels and 5 pennies. How much money do you have?

Correct Answer: C) .85 cents.

7. A percentage of the money borrowed

Correct Answer: B) Interest.

8. The amount of pay before all deductions refers to

Correct Answer: C) Gross pay.

9. The amount of something left over when requirements have been met.

Correct Answer: A) Surplus.

10. The first step in the financial planning process is to .....

Correct Answer: C) Determine your financial situation.

11. Calculate the missing amount for BLiabilities

Correct Answer: D) $ 5, 200.

12. Another term for the dollar amount of your paycheck after taxes and other withholdings is:

Correct Answer: B) Adjusted gross income.

13. How many nickels does it take to make a 1.00?

Correct Answer: A) 20.

14. These vary from month to month depending on how much you use

Correct Answer: B) Flexible.

15. Nancy has 1.00 and spends 67 cents. How much money does she have left over?

Correct Answer: C) .33.

16. When I use my debit card at the store, the money is automatically taken out of my ..... account.

Correct Answer: B) Checking.

17. What is something financially wise consumers do?

Correct Answer: A) Postpone major purchases until money can be saved for it.

18. ..... refers to money in your pocket

Correct Answer: D) Liquid income.

19. A man budgeted $ 200 a month for clothing. This month the man spent $ 150 on clothing therefore that budget item is considered to have

Correct Answer: C) A budget variance.

20. ..... measures how comfortable you are based on the things you own.

Correct Answer: C) Standard of living.