This quiz works best with JavaScript enabled. Home > Finance > Management > Money Management – Quiz 14 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Management Quiz 14 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Mr. Kent was hired to work for $ 70, 000.00 a year. How much will he make in a week? A) 1, 346.15. B) 1, 548.12. C) 1, 458.33. D) 2, 000.00. Show Answer Correct Answer: C) 1, 458.33. 2. Cash and items of value that can easily be converted to cash A) Debt. B) Liability. C) Long-term asset. D) Liquid/current asset. Show Answer Correct Answer: D) Liquid/current asset. 3. What is saving? A) Money earned by working. B) Putting money away for later. C) Taking a risk with your money. D) Buying now and paying later. Show Answer Correct Answer: B) Putting money away for later. 4. When money is not used and goods and services are exchanged for other goods and services, this system is called: A) Credit. B) Money. C) Barter. D) Checks. Show Answer Correct Answer: C) Barter. 5. Service jobs usually start with the A) Minimum wage. B) Salary. C) Part time rate. D) Over time rate. Show Answer Correct Answer: A) Minimum wage. 6. Which of the following is a fixed expense? A) Food. B) Utilities. C) Clothing. D) Rent. Show Answer Correct Answer: D) Rent. 7. A type of electronic funds transfer (EFT) is: A) A transaction made with a check. B) A deposit made with a bank teller. C) Not widely used by consumers. D) An ATM transaction. Show Answer Correct Answer: D) An ATM transaction. 8. Which type of bank account is most linked to spending? A) Checking. B) Investment. C) Mutual Fund. D) Savings. Show Answer Correct Answer: A) Checking. 9. Which government agency is responsible for creating and tracking all of the money in the United States? A) Employer. B) Internal Revenue Service. C) Federal Reserve. D) Federal Commissions Agency. Show Answer Correct Answer: C) Federal Reserve. 10. What does a well designed, successful financial plan include? A) Wants and needs. B) Unexpected income. C) Retirement planning. D) Bank statements. Show Answer Correct Answer: C) Retirement planning. 11. All of these are true about investing money except ..... A) You will earn money on the principal you invest. B) You will earn money on the interest you earn. C) You can only do it if you are rich. D) You should start at a young age. Show Answer Correct Answer: C) You can only do it if you are rich. 12. A plan for future expense/expenditure A) Budget. B) Shopping list. C) Agenda. D) Debt. Show Answer Correct Answer: A) Budget. 13. What type of organization will offer a 403(c) as a retirement plan? A) Private business. B) Giant company. C) Nonprofit/government. D) Airline. Show Answer Correct Answer: C) Nonprofit/government. 14. The movement of money you receive and the money you spend is called A) Cash Flow. B) Needs. C) Wants. D) Goals. Show Answer Correct Answer: A) Cash Flow. 15. Which of these is a document that provides pace to record the money that you receive and pay out on a monthly basis? A) Budget. B) Financial statement. C) Mission statement. D) SMART goal. Show Answer Correct Answer: A) Budget. 16. Which of the following would be considered a short-term savings goal? A) Buying a used car. B) Paying for college. C) Saving for your retirement. D) Saving to buy a birthday gift for your friend. Show Answer Correct Answer: D) Saving to buy a birthday gift for your friend. 17. The difference between banks and credit unions A) One has more money. B) Who owns each of them. C) Their location and size. D) None of above. Show Answer Correct Answer: B) Who owns each of them. 18. When writing a short term goal, you are looking at a time frame that is ..... A) 3 months or less. B) 3 months. C) 3 months to a year. D) Over a year. Show Answer Correct Answer: A) 3 months or less. 19. Salaried employees are not allowed to have overtime A) True. B) False. C) Sometimes. D) Maybe. Show Answer Correct Answer: A) True. 20. Which question is not considered as you prepare to set your financial goals? A) What do I want to accomplish in the next month?. B) Can I ask my employer for a raise to help me meet my financial goals?. C) What is important to me?. D) Are my financial goals practical?. Show Answer Correct Answer: B) Can I ask my employer for a raise to help me meet my financial goals?. ← PreviousNext →Related QuizzesFinance QuizzesMoney Management Quiz 1Money Management Quiz 2Money Management Quiz 3Money Management Quiz 4Money Management Quiz 5Money Management Quiz 6Money Management Quiz 7Money Management Quiz 8Money Management Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books