This quiz works best with JavaScript enabled. Home > Finance > Management > Money Management – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Management Quiz 3 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is same cost occurring regularly? A) Variable expense. B) Taxable income. C) Fixed expense. D) Allowance. Show Answer Correct Answer: C) Fixed expense. 2. The cost of owning a car includes A) Insurance. B) Repairs. C) Gas. D) All of these. Show Answer Correct Answer: D) All of these. 3. What is one result of having an overdraft? A) An additional fee. B) Increased interest. C) Decreased interest. D) Higher credit score. Show Answer Correct Answer: A) An additional fee. 4. To make sure you will always remember your automated teller machine (ATM) card personal identification number (PIN), you should write the PIN and keep it: A) In your wallet. B) In your checkbook. C) On your ATM card. D) In a secure place at home. Show Answer Correct Answer: D) In a secure place at home. 5. Federal tax return mistakes can be avoided by A) Using the proper tax forms, tax tables, and correct filing status. B) Signing the completed return. C) Filing online or mailing your return before the deadline. D) All of the above. Show Answer Correct Answer: D) All of the above. 6. An example of a fixed expense is A) Contributions/Gifts. B) Dinner out with friends. C) Car payment. D) Entertainment. Show Answer Correct Answer: C) Car payment. 7. ..... is anything you exchange for goods and services. A) Checks. B) Bartered. C) Money. D) None of above. Show Answer Correct Answer: C) Money. 8. The term A.P.R stand for: A) Annual Percentage review. B) Annual Percentage Rate. C) Always Pushing Right. D) None of above. Show Answer Correct Answer: B) Annual Percentage Rate. 9. The amount on which taxes are calculated after adjustments, deductions, and exemptions. A) Taxable income. B) Surplus. C) Net income. D) None of above. Show Answer Correct Answer: A) Taxable income. 10. Setting aside money to have on hand for unexpected expenses and events is A) Cash flow. B) Income. C) Emergency fund. D) Opportunity cost. Show Answer Correct Answer: C) Emergency fund. 11. Cash and other property with a monetary value A) Asset. B) Liability. C) Debt. D) Money. Show Answer Correct Answer: A) Asset. 12. When you make a loan payment, your A) Liabilities decrease. B) Net income increases. C) Cash outflows decrease. D) Net worth is unaffected. Show Answer Correct Answer: A) Liabilities decrease. 13. We are planning to go on vacation next summer, so I transfer money every month to my ..... account. A) Discretionary Expense. B) Checking. C) Savings. D) Variable Expense. Show Answer Correct Answer: C) Savings. 14. ..... expenses may be different amounts from month to month. A) Delayed. B) Fixed. C) Periodic. D) Variable. Show Answer Correct Answer: D) Variable. 15. ..... is pay by the hour. A) Salary. B) Hourly Wage. C) Gross Pay. D) Commission. Show Answer Correct Answer: B) Hourly Wage. 16. What happens to your credit score if you pay off your debt quick? A) Goes up. B) Goes Down. C) Stays the same. D) None of above. Show Answer Correct Answer: A) Goes up. 17. What does the A in SMART Goal stand for? A) Asset. B) Assistance. C) Attainable. D) Anuity. Show Answer Correct Answer: C) Attainable. 18. What is investing? A) Spending money on anything you want. B) Saving money constantly. C) Using money in hopes of gaining more in the future by lending to businesses in exchange for a share of profits. D) Setting aside money for future use. Show Answer Correct Answer: C) Using money in hopes of gaining more in the future by lending to businesses in exchange for a share of profits. 19. This insurance provides cash payments for a limited time to individuals who are out of work for a reason other than illness. A) Disability income insurance. B) Survivors insurance. C) Unemployment insurance. D) Retirement insurance. Show Answer Correct Answer: C) Unemployment insurance. 20. Your monthly budget should include: A) Variable expenses. B) Discretionary Expenses. C) Fixed Expenses. 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 4Money Management Quiz 5Money Management Quiz 6Money Management Quiz 7Money Management Quiz 8Money Management Quiz 9Money Management Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books