This quiz works best with JavaScript enabled. Home > Finance > Management > Money Management – Quiz 23 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Management Quiz 23 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What are items of value? A) Tax. B) Allowance. C) Net worth. D) Personal assets. Show Answer Correct Answer: D) Personal assets. 2. What is the amount of money you earn, before taxes are taken out? A) Net Income. B) Gross Income. C) Property Income. D) None of above. Show Answer Correct Answer: B) Gross Income. 3. An account where money is kept for future use. A) Income Tax. B) Overdraft Fees. C) Savings Account. D) Checking Account. Show Answer Correct Answer: C) Savings Account. 4. What were the 3 types of expenses we discussed? A) Fixed; Flexible; Convenient. B) Fixed; Variable; Useful. C) Fixed; Flexible; Variable. D) None of above. Show Answer Correct Answer: C) Fixed; Flexible; Variable. 5. What is extra money that must be paid back in addition to the money you borrowed? A) Credit. B) Budget. C) Profit. D) Interest. Show Answer Correct Answer: D) Interest. 6. Sam works 40 hours a week. He is paid $ 30.00 an hour. He worked 50 hours this week. How much is his pay check? A) $ 1600.00. B) $ 1200.00. C) $ 650.00. D) $ 1650.00. Show Answer Correct Answer: D) $ 1650.00. 7. The part of your budget where money is spent on things that are needed or wanted A) Income. B) Expenditure. C) Savings. D) None of above. Show Answer Correct Answer: B) Expenditure. 8. Which of the following would NOT be considered a source of income? A) Money received as a gift. B) Money from a job. C) Money received from a college scholarship. D) Money taken out of your paycheck for taxes. Show Answer Correct Answer: D) Money taken out of your paycheck for taxes. 9. When purchasing a pack of gum you would use what method of payment? A) Bank Loan. B) Debit Card. C) Credit Card. D) Coins. Show Answer Correct Answer: D) Coins. 10. If you deposited $ 20 per month into a checking account, how much money would you have after 5 months? A) $ 85. B) $ 100. C) $ 120. D) None of above. Show Answer Correct Answer: B) $ 100. 11. Double coincidence of wants is an issue associated with the system of A) Barter. B) Sale. C) Transfer. D) Donations. Show Answer Correct Answer: A) Barter. 12. To increase his net worth, Jackson could: A) Increase his liabilities. B) Decrease his assets. C) Increase his market value. D) Increase his assets. Show Answer Correct Answer: D) Increase his assets. 13. Some incomes fluctuate depending on the day of the week A) Sunday. B) Weekends. C) Holidays. D) All of the above. Show Answer Correct Answer: D) All of the above. 14. What is an investment? A) Spending money with the goal of making more money. B) Spending money to get out of credit card debt. C) Saving money for long term goals. D) Paying a fee to borrow money. Show Answer Correct Answer: A) Spending money with the goal of making more money. 15. Which of the following is an asset? A) Electric bill. B) Car loan. C) Savings account. D) Donation. Show Answer Correct Answer: C) Savings account. 16. Music, cellphones, videos, gold shoes, nails A) Needs. B) Wants. C) Prizes. D) Both 1 and 2. Show Answer Correct Answer: D) Both 1 and 2. 17. Developing effective money-management habits begins with ..... A) Charge cards. B) Debit cards. C) Awareness of your cash flow. D) Living your life like YOLO. Show Answer Correct Answer: C) Awareness of your cash flow. 18. What is a down payment? A) A sum of money that you pay at closing. B) Percentage earned of sale price. C) A loan which uses the equity in your house to secure you loan. D) None of above. Show Answer Correct Answer: A) A sum of money that you pay at closing. 19. More commonly a line of credit may be extended in the form of a ..... A) Savings. B) Budget. C) Liquid income. D) Credit card. Show Answer Correct Answer: D) Credit card. 20. At what age are you required to begin taking distributions from your Roth IRA? A) 65. B) 59 1/2. C) 70 1/2. D) Never. Show Answer Correct Answer: D) Never. ← 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