This quiz works best with JavaScript enabled. Home > Finance > Management > Money Management – Quiz 24 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Management Quiz 24 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What an individual gives up to have something else. A) Opportunity Cost. B) Variable Expenses. C) Fixed Expenses. D) Pay Yourself First. Show Answer Correct Answer: A) Opportunity Cost. 2. Which of the following is considered "risky" ? A) Income. B) Expenditures. C) Debt. D) Savings. Show Answer Correct Answer: C) Debt. 3. Budgeting allows you to do all the following expect A) Live within your income. B) Stress about the money. C) Keep financial record. D) Keep expenses under control. Show Answer Correct Answer: B) Stress about the money. 4. When income is less than expenses A) Income. B) Net loss. C) Gross income. D) None of above. Show Answer Correct Answer: B) Net loss. 5. An amount of money loaned to a person that must be paid back along with additional interest is known as ..... A) Credit. B) Budget. C) Profit. D) Interest. Show Answer Correct Answer: A) Credit. 6. A tax on gasoline is known as a(n) A) Estate tax. B) Excise tax. C) Gift tax. D) Income tax. Show Answer Correct Answer: B) Excise tax. 7. Payments that are NOT always the same amount from month to month are called ..... A) Fixed Expenses. B) Variable Expenses. C) Deductions. D) Income. Show Answer Correct Answer: B) Variable Expenses. 8. If Jeremiah need to save $ 584 yet for his trip and he plans to leave in 15 months, how much will he need to save each month for the trip? A) Approximately $ 39 per month. B) Approximately $ 15 per month. C) Approximately $ 50 per month. D) Approximately $ 27 per month. Show Answer Correct Answer: A) Approximately $ 39 per month. 9. Apple Pay, Samsung Pay and Venmo are all examples of A) Credit Cards. B) Debit Cards. C) Electronic Payment Methods. D) Debt. Show Answer Correct Answer: C) Electronic Payment Methods. 10. Which of the following shows $ 8.00 A) 3-$ 5.00 bills, 1-$ 1.00 bill. B) 1-$ 5.00 bill, 2-$ 1.00 bill. C) 2-$ 5.00 bills, 3-$ 1.00 bills. D) 1-$ 5.00 bill, 3-$ 1.00 bills. Show Answer Correct Answer: D) 1-$ 5.00 bill, 3-$ 1.00 bills. 11. P.Y.F. means A) Pay Yourself First. B) Predict Your Finances. C) Pray Your Fears. D) Play Your Friends. Show Answer Correct Answer: A) Pay Yourself First. 12. About how much does Mrs. Jones makes an hour? A) 50.00. B) 25.00. C) 62.51. D) 48.05. Show Answer Correct Answer: C) 62.51. 13. Money set aside for an unplanned costly event A) Income. B) Budget. C) Flexible Expense. D) Emergency Funds. Show Answer Correct Answer: D) Emergency Funds. 14. A private storage area at a financial institution with maximum security for valuables. A) Safe deposit box. B) The vault. C) A checking account. D) Money market savings account. Show Answer Correct Answer: A) Safe deposit box. 15. The portion of current income not spent on consumption A) Savings. B) Net loss. C) Net gain. D) None of above. Show Answer Correct Answer: A) Savings. 16. U. S. Federal minimum wage = $ ..... /hour A) $ 5.75. B) $ 7.75. C) $ 5.25. D) $ 7.25. Show Answer Correct Answer: D) $ 7.25. 17. If you borrowed $ 100 and they charged you 10% interest, how much would you end up paying them back? A) $ 100. B) $ 1000. C) $ 110. D) None of above. Show Answer Correct Answer: C) $ 110. 18. The first thing you must have when creating a budget is ..... A) Loan. B) Credit. C) Debt. D) Income. Show Answer Correct Answer: D) Income. 19. The denominations of coins in the United States are: A) $ .01, $ .05, $ .10, $ .25, $ .50, and $ 1.00. B) $ .01, $ .30, $ .50, and $ 5.00. C) $ .05, $ .10, $ .50, $ .75, and $ 10.00. D) Coins can be in any denomination a consumer desires. Show Answer Correct Answer: A) $ .01, $ .05, $ .10, $ .25, $ .50, and $ 1.00. 20. People have savings to pay for A) Storm damage. B) Large medical bills. C) New roof. D) All of the above. Show Answer Correct Answer: D) All of the above. ← 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