This quiz works best with JavaScript enabled. Home > Finance > Management > Money Management – Quiz 21 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Management Quiz 21 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Financial experts recommend a debt/payments ratio of less than 20 percent. What is this family's debt ratio? Credit card $ 140Credit card $ 300Credit card $ 100Annual take home pay $ 43, 200 A) 25%. B) 15%. C) 6%. D) 66%. Show Answer Correct Answer: B) 15%. 2. Which choice would be referred to as a "need" ? A) Cell phone. B) Food. C) New tennis shoes. D) Baseball glove. Show Answer Correct Answer: B) Food. 3. In case of emergency you should have what ..... A) Good Credit. B) Money Saved. C) Budget Plan. D) Credit Card. Show Answer Correct Answer: B) Money Saved. 4. The first set of numbers on the bottom of a check are called the: A) Routing numbers. B) Account numbers. C) Check Numbers. D) None of above. Show Answer Correct Answer: A) Routing numbers. 5. Which of the following would be a personal asset? A) Your personal computer. B) Your car payment. C) Your home mortgage. D) Your college loan. Show Answer Correct Answer: A) Your personal computer. 6. Rent is a: A) Fixed expense. B) Discretionary Expense. C) Variable expense. D) Intermittent expense. Show Answer Correct Answer: A) Fixed expense. 7. Putting money aside to use in the future is known as? A) Spending. B) Credit. C) Amount. D) Saving. Show Answer Correct Answer: D) Saving. 8. At the end of the month, the money I haven't spent is ..... A) Spent quickly. B) Income. C) Savings. D) Expenses. Show Answer Correct Answer: C) Savings. 9. When purchasing a vehicle, the most important things to compare are A) Colors & cost. B) Safety & color. C) Color. D) Safety & costs. Show Answer Correct Answer: D) Safety & costs. 10. Which of the following is a disadvantage of of the barter systemI The rate of exchangeII Storage of wealthIII Acquisition of goods A) I and II only. B) III only. C) I and III only. D) I, II and III. Show Answer Correct Answer: D) I, II and III. 11. What is tax deduction for taxpayer, spouse, and child? A) Allowance. B) Tax. C) Tax credit. D) Exemption. Show Answer Correct Answer: D) Exemption. 12. Setting aside money for future use is called? A) Income. B) Debt. C) Loan. D) Savings. Show Answer Correct Answer: D) Savings. 13. A federal student loan is provided by ..... A) Private companies. B) The state you live in. C) US Federal government. D) Investors. Show Answer Correct Answer: C) US Federal government. 14. ..... is borrowed money A) Liquid income. B) Wages. C) Credit. D) Minimum wage. Show Answer Correct Answer: C) Credit. 15. You should create a budget by ..... A) Writing down your monthly expenses. B) Making a list of everything you want. C) Finding how much college will cost. D) None of these. Show Answer Correct Answer: A) Writing down your monthly expenses. 16. People on the night shift get paid more because A) Hard to find people to work. B) Day shift is preferred. C) Longer hours. D) Shorter hours. Show Answer Correct Answer: A) Hard to find people to work. 17. Which is considered the least effective budgeting system A) Mental budget. B) Written budget. C) Online budget. D) Budget app. Show Answer Correct Answer: A) Mental budget. 18. Budgeting and living within it ensures secure A) Credit rating. B) Loan account. C) Financial future. D) Good friends. Show Answer Correct Answer: C) Financial future. 19. If you were in charge of buying milk for a family of five, but not everyone has breakfast at home every day, what kind of expense would the milk be? A) Fixed essential. B) Variable essential. C) Non-variable. D) Non-essential. Show Answer Correct Answer: B) Variable essential. 20. Income received in the form of goods, services and money A) Net Income. B) Gross Income. C) Flexible Income. D) Fixed Income. Show Answer Correct Answer: B) Gross 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