This quiz works best with JavaScript enabled. Home > Finance > Management > Money Management – Quiz 19 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Management Quiz 19 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The result of more money being spent than is earned or received is called a (n) ..... A) Opportunity cost. B) Surplus. C) Deficit. D) Personal fixed expenses. Show Answer Correct Answer: C) Deficit. 2. In a BUDGET-Water, Electric and Gas are categorized as ..... expenses A) Debt. B) Housing. C) Utilities. D) None of above. Show Answer Correct Answer: C) Utilities. 3. If you deposited $ 10 per month into a savings account and it was going to earn you 10% interest each year, how much $ would you have at the end of the year? A) $ 120. B) $ 144. C) $ 132. D) None of above. Show Answer Correct Answer: C) $ 132. 4. The bank agreed to loan me the money that I needed to start my new business. The bank extended ..... to me in the form of a loan with a repayment agreement. A) Interest. B) Budget. C) Debt. D) Credit. Show Answer Correct Answer: D) Credit. 5. ..... are expenses that remain the same every month. Such as rent, car payment, and real estate taxes. A) Fixed Expenses. B) Final Expenses. C) Variable Expenses. D) Prices. Show Answer Correct Answer: A) Fixed Expenses. 6. When unexpected expenses come up you should have A) Credit. B) Savings. C) Goodie bag. D) None of the above. Show Answer Correct Answer: B) Savings. 7. What is getting the most for your money? A) Net worth. B) Money management. C) Budget variance. D) Earned income. Show Answer Correct Answer: B) Money management. 8. Expenses that occur regularly and are regularly paid are ..... A) Fixed expenses. B) Variable expenses. C) Budget variance. D) Deficit. Show Answer Correct Answer: A) Fixed expenses. 9. A deduction is sometimes called ..... A) Income. B) Debt. C) Withholdings. D) Pay stub. Show Answer Correct Answer: C) Withholdings. 10. Commission A) Income percentage of a sale. B) Zero. C) Plan of spending. D) Individual bank. Show Answer Correct Answer: A) Income percentage of a sale. 11. What is considered to be "retirement" age, when it is acceptable to begin taking IRA distributions without penalty? A) 50. B) 59 1/2. C) 65. D) 70 1/2. Show Answer Correct Answer: B) 59 1/2. 12. Tax levied by a government directly on personal income. A) Budget. B) Income Tax. C) Net Income. D) Expense. Show Answer Correct Answer: B) Income Tax. 13. What are the three main parts of a budget? A) Credit, debt, savings. B) Income, expenditures, savings. C) Expenditures, loans, credit. D) Credit, savings, income. Show Answer Correct Answer: B) Income, expenditures, savings. 14. What will happen to your credit score if you miss a payment? A) Goes up. B) Goes down. C) Stays the same. D) None of above. Show Answer Correct Answer: B) Goes down. 15. When you make a financial decision, ..... A) There is always an enormous risk. B) You accept some risk. C) There is usually no risk because you have done a lot of research. D) There should be no need to ever change it. Show Answer Correct Answer: B) You accept some risk. 16. Benefits are extra things added to the job by the employer A) Sometimes. B) Most of the tome. C) All of the time. D) Never. Show Answer Correct Answer: C) All of the time. 17. Which of the following is NOT a characteristic of comparison shopping? A) Emotional buying. B) Includes careful consideration. C) Evaluate product's features and quality. D) Long-term satisfaction in quality of product. Show Answer Correct Answer: A) Emotional buying. 18. This month Anthony's take-home pay was $ 1, 500. He also earned $ 20 interest on a savings account. He spent $ 250 for rent, $ 100 for groceries, and $ 300 for other expenses. Anthony's net cash flow this month totaled A) $ 850. B) $ 870. C) $ 1, 500. D) $ 1, 520. Show Answer Correct Answer: B) $ 870. 19. Another name for house payment is A) Rent. B) Notes. C) Mortgage. D) Loan. Show Answer Correct Answer: C) Mortgage. 20. Your net worth is A) The total value of your personal assets. B) The difference between your personal assets and your liabilities. C) The total amount of all of your investments. D) What you have left over in your paycheck each week after deductions are taken out. Show Answer Correct Answer: B) The difference between your personal assets and your liabilities. ← 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