This quiz works best with JavaScript enabled. Home > Finance > Management > Money Management – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Management Quiz 4 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. All the following are examples of tax deductions EXCEPT A) Contributions to charitable organizations. B) Certain medical expenses. C) Rent expense. D) Interest paid on a home mortgage or home equity loan. Show Answer Correct Answer: C) Rent expense. 2. Financial ..... are the plans you have for using your money. (LIke saving for college or a car) A) Needs. B) Goals. C) Wants. D) Services. Show Answer Correct Answer: B) Goals. 3. Which two things does a budget compare? A) Income and expenses. B) Savings and interest. C) Income and investments. D) Expenses and expenditures. Show Answer Correct Answer: A) Income and expenses. 4. A request that the bank not honor a specific check is a: A) Overdraft Protection. B) Stop-Payment. C) Direct Deposit. D) Notarized. Show Answer Correct Answer: B) Stop-Payment. 5. Payments that stay the same from month to month are called ..... A) Fixed Expenses. B) Variable Expenses. C) Deductions. D) Income. Show Answer Correct Answer: A) Fixed Expenses. 6. What is a home loan called? A) Mortgage. B) Personal Loan. C) Car Loan. D) Above Rent Payments. Show Answer Correct Answer: A) Mortgage. 7. The amount of salary received after taxes and deductions A) Gross Pay. B) Net Pay. C) Total Earnings. D) Bill. Show Answer Correct Answer: B) Net Pay. 8. Employees who work 20-35 hours a week are called ..... employees A) Fulltime. B) Regular time. C) Overtime. D) Part time. Show Answer Correct Answer: D) Part time. 9. How does the government dispose of old money? A) They give it away to the poor. B) Banks loan it citizens. C) They shred it. D) Recycle it to make notebook paper. Show Answer Correct Answer: C) They shred it. 10. Expenses paid in the same amount each month A) Flexible. B) Fixed. C) Gross. D) Net. Show Answer Correct Answer: B) Fixed. 11. The total amount of money an individual has earned before taxes are taken out. A) Net Income. B) Checking Account. C) Gross Income. D) Overdraft. Show Answer Correct Answer: C) Gross Income. 12. This is a legal proceeding involving a person or business that is unable to repay outstanding debts. A) Mediation. B) Bankruptcy. C) Insolvency. D) Liquidation. Show Answer Correct Answer: B) Bankruptcy. 13. What's differences in actual and budget cost? A) Allowance. B) Budget variance. C) Exemption. D) Fixed expense. Show Answer Correct Answer: B) Budget variance. 14. The difference between the budgeted amount and the actual amount you spend A) Fixed expense. B) Budget variance. C) Personal financial planning. D) Opportunity cost. Show Answer Correct Answer: B) Budget variance. 15. ..... is in essence a loan of money A) Budget. B) Savings. C) Credit. D) Income. Show Answer Correct Answer: C) Credit. 16. All of the following are legal ways of earning money except A) Self employment. B) Remittance. C) Inheritance. D) Black market. Show Answer Correct Answer: D) Black market. 17. Buying on the spur of the moment without thinking about the need of the item is referred to as A) Barter. B) Fringe Benefit. C) Impulsive buying. D) Flexible expense. Show Answer Correct Answer: C) Impulsive buying. 18. If actual spending is greater than planned spending, it is referred to as a A) Surfeit. B) Liability. C) Surplus.. D) Deficit. Show Answer Correct Answer: D) Deficit. 19. This part of Social Security provides death benefits to dependents of workers who die. A) Survivors insurance. B) Retirement insurance. C) Disability insurance. D) Unemployment insurance. Show Answer Correct Answer: A) Survivors insurance. 20. If I have 7 dimes, 7 pennies, and 2 nickels, how much money do I have? A) .77 cents. B) $ 1.00. C) .95 cents. D) .87 cents. Show Answer Correct Answer: D) .87 cents. ← PreviousNext →Related QuizzesFinance QuizzesMoney Management Quiz 1Money Management Quiz 2Money Management Quiz 3Money 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