This quiz works best with JavaScript enabled. Home > Finance > Management > Money Management – Quiz 8 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Management Quiz 8 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. My cousin wanted to borrow $ 300 from me. I loaned him the money but I told him that he would have to pay me back $ 330. The money that was paid back to me on top of the loan is known as ..... A) Credit. B) Interest. C) Savings. D) Debt. Show Answer Correct Answer: B) Interest. 2. What would happen if your expenses are greater than your income? A) You would be rich. B) You would be in debt. C) You could loan people money. D) You could save more oney. Show Answer Correct Answer: B) You would be in debt. 3. When making financial decisions, you can find information that will help you ..... A) On the Internet. B) On corporate Web sites. C) In finance-oriented newspapers and magazines. D) All of these. Show Answer Correct Answer: D) All of these. 4. Which of the following is an example of a need for most people? A) A place to live. B) A nice car. C) Designer jeans. D) None of above. Show Answer Correct Answer: A) A place to live. 5. The total amount of money earned during the pay period before deductions. A) Take Home pay. B) Net Pay. C) Gross Pay. D) FICA. Show Answer Correct Answer: C) Gross Pay. 6. What is sacrifice? A) Making good choices. B) Going without good and services. C) Exchanging one thing for another. D) Giving up something to do something else. Show Answer Correct Answer: D) Giving up something to do something else. 7. Government assistance, retirement, alimony, investments A) Wants. B) Needs. C) Benefits. D) Income. Show Answer Correct Answer: D) Income. 8. Light and water is referred to as ..... on the budget A) Miscellaneous. B) Other. C) Utilities. D) Savigns. Show Answer Correct Answer: C) Utilities. 9. What are results from wages, salaries, etc, ? A) Earned income. B) Personal assets. C) Investment income. D) Taxable income. Show Answer Correct Answer: A) Earned income. 10. ..... expenses occur only once in a while. A) Delayed. B) Fixed. C) Variable. D) Periodic. Show Answer Correct Answer: D) Periodic. 11. ..... is the starting point of personal financial management A) Income. B) Expenditure. C) Savings. D) Credit. Show Answer Correct Answer: A) Income. 12. The family has liabilities of $ 128, 000 and assets of $ 340, 000. What is their debt ratio? A) 38%. B) 2.65%. C) 265%. D) 0.376%. Show Answer Correct Answer: A) 38%. 13. Sign of an unhealthy budget is A) Too much money. B) Too much credit. C) Too many expenses. D) None of above. Show Answer Correct Answer: C) Too many expenses. 14. Basic items that are useful for survival are ..... A) Income. B) Needs. C) Values. D) Wants. Show Answer Correct Answer: B) Needs. 15. Budgeting for unexpected expenses would include ..... A) Insurance. B) Rent. C) Car payment. D) Car repairs. Show Answer Correct Answer: D) Car repairs. 16. What is the first step of your budget after recording your income? A) Fixed expenses. B) Variable expenses. C) Savings/investing. D) None of these. Show Answer Correct Answer: C) Savings/investing. 17. This is an illegal means by which money is earned A) Barter. B) Subsistent income. C) Black market. D) Dividend. Show Answer Correct Answer: C) Black market. 18. Identify the background color of a U.S. $ 5.00 bill A) Orange. B) Red. C) Blue. D) Green. Show Answer Correct Answer: D) Green. 19. What's the amount on which taxes are collected? A) Earned income. B) Personal assets. C) Net worth. D) Taxable income. Show Answer Correct Answer: D) Taxable income. 20. A(n) ..... is a charge imposed by government to fund public services. A) Sales tax. B) Tax. C) Excise tax. D) Income tax. Show Answer Correct Answer: B) Tax. ← 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 9Money Management Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books