This quiz works best with JavaScript enabled. Home > Finance > Management > Money Management – Quiz 20 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Management Quiz 20 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is not a type of check? A) Cashier's. B) Debit. C) Traveler's. D) Certified. Show Answer Correct Answer: B) Debit. 2. Stafford loans, Perkins loans, and Plus loans are all ..... from the government. A) Alternative loans. B) Federal loans. C) Scholarships. D) Grants. Show Answer Correct Answer: B) Federal loans. 3. When writing a long-term goal, you are looking at a time frame that is ..... A) 3 months or less. B) 3-9 months. C) Less than 12 months. D) More than 12 months. Show Answer Correct Answer: D) More than 12 months. 4. The money an individual spends regularly for items or services. A) Budget. B) Expense. C) Checking Account. D) Financial Plan. Show Answer Correct Answer: B) Expense. 5. Which is NOT an example of Fiduciary Money? A) Checks. B) Cash. C) Money Orders. D) Bank Notes. Show Answer Correct Answer: B) Cash. 6. The total amount of money earned for a specific time is called ..... A) Surplus. B) Deficit. C) Gross pay. D) Opportunity cost. Show Answer Correct Answer: C) Gross pay. 7. Discretionary Income A) The amount a person or household has to spend. B) Money left over after paying for housing, food, and other necessities. C) Money to blow. D) Take home pay. Show Answer Correct Answer: B) Money left over after paying for housing, food, and other necessities. 8. The state of owing money to another individual or business, or the amount of money borrowed. A) Gross Income. B) Net Income. C) Debt. D) Budget. Show Answer Correct Answer: C) Debt. 9. Financial plans need to: A) Include income but not expenses. B) Be changed during different stages in life. C) Include income and eliminate risk. D) To be approved by an accountant. Show Answer Correct Answer: B) Be changed during different stages in life. 10. What summarizes your financial condition? A) Cash flow statement. B) Financial plan. C) Investment income. D) Budget variance. Show Answer Correct Answer: B) Financial plan. 11. The amount a person pays for a purchase A) Spending. B) Price. C) Cost. D) All. Show Answer Correct Answer: D) All. 12. The period between when the money is borrowed and due to be repaid is called the? A) Interest zone. B) Grace period. C) Borrow free. D) None of above. Show Answer Correct Answer: B) Grace period. 13. Which type of credit could the lender (The person giving the money) take your possessions if you do not repay? A) Credit card. B) Mortgage. C) Personal Loan. D) None of above. Show Answer Correct Answer: B) Mortgage. 14. What is the first thing you should do when you get your paycheck. A) Pay yourself first. B) Buy new sneakers. C) Pay your bills. D) Go to the movies. Show Answer Correct Answer: A) Pay yourself first. 15. Which of these is not a term for someone living in a rented space? A) Renter. B) Tenant. C) Homeowner. D) None of above. Show Answer Correct Answer: C) Homeowner. 16. The loss of an asset's value over time is called A) Depreciation. B) Equalization. C) Amoritization. D) Normalization. Show Answer Correct Answer: A) Depreciation. 17. Interest that grows on top of the original amount saved plus grows on the interest earned each month or year. A quicker way for you money to grow. A) Choice interest. B) Compounding interest. C) Low interest. D) High interest. Show Answer Correct Answer: B) Compounding interest. 18. Which of the following is an example of a fixed expense? A) Power bill. B) Concert tickets. C) Car loan payment. D) Football cleats. Show Answer Correct Answer: C) Car loan payment. 19. When purchasing a new house you would use what method of payment? A) Cash. B) Credit Card. C) Bank Loan. D) Debit Card. Show Answer Correct Answer: C) Bank Loan. 20. . Wages, salary, commission, fees, tips, and bonuses are A) Interest income. B) Tax-exempt income. C) Earned income. D) Tax-deferred income. Show Answer Correct Answer: C) Earned income. ← 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