This quiz works best with JavaScript enabled. Home > Personal Finance > Personal Finance > Personal Finance – Quiz 10 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Personal Finance Quiz 10 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. In your portfolio, ..... will fuel the growth of your portfolio, but can be very volatile. A) Stocks. B) Bonds. C) REITS. D) Cash. Show Answer Correct Answer: A) Stocks. 2. Which of the following information will you need to fill out a FASFA? A) Social Security Number. B) Copy of your Birth Certificate. C) Federal Income Tax Returns. D) A Teacher Recommendation Letter. Show Answer Correct Answer: A) Social Security Number. 3. A deposit slip is always signed. A) True. B) False. Show Answer Correct Answer: B) False. 4. Clara earns £49, 000 per year. How much national insurance does she pay? A) £4, 740. B) £980. C) £4, 880. D) None of above. Show Answer Correct Answer: A) £4, 740. 5. Which one of the following is an asset that the borrower owns and uses as a guarantee until the loan is repaid to the lender? A) Property. B) Money. C) Collateral. D) Deposits. Show Answer Correct Answer: C) Collateral. 6. IRA stands for A) Intuitive Research Association. B) Initial Return on Allotment. C) Individual Retirement Account. D) Individual Retirement Allotment. Show Answer Correct Answer: C) Individual Retirement Account. 7. Gary worked 47.75 hours this week. He gets paid $ 13.25 per hour for the first 40 hours and then gets overtime for the rest of the time. How much money did he make this week? A) $ 735.38. B) $ 632.69. C) $ 684.03. D) $ 705.35. Show Answer Correct Answer: C) $ 684.03. 8. You order your favorite foot long sandwich with chips and a drink using your debit card. The total comes to $ 5.68. Your online statement shows a charge of $ 40.68. the extra amount is likely an overdraft fee. A) True. B) False. Show Answer Correct Answer: A) True. 9. A full time job is generally ..... hours per week. A) 35. B) 37. C) 40. D) 42. Show Answer Correct Answer: C) 40. 10. A payslip is A) A document from your bank showing money in and payments taken from your bank account over a period of time. B) A document from your bank showing your wages being paid into your account. C) A document from your employer detailing pay earned and deductions taken over a period of time. D) Your own summary of your wages. Show Answer Correct Answer: C) A document from your employer detailing pay earned and deductions taken over a period of time. 11. A plastic card used to make purchases now and pay for them later A) Debit card. B) Insurance. C) Installment plan. D) Credit card. Show Answer Correct Answer: D) Credit card. 12. Which type of tax structure has the same percentage for everyone? A) Progressive, Income Tax. B) Regressive. C) Proportional. D) None of above. Show Answer Correct Answer: C) Proportional. 13. The Federal Deposit Insurance Corporation (FDIC) and the Securities and Exchange Commission (SEC) were part of President Franklin D. Roosevelt's efforts to A) Reduce the power of business monopolies during the Great Depression. B) Give organized labor a stronger voice in politics. C) Reform economic problems that contributed to the Great Depression. D) Bring electricity to rural areas. Show Answer Correct Answer: C) Reform economic problems that contributed to the Great Depression. 14. Because credit card interest rates are usually quite high, you should pay off your credit card balances before you invest funds anywhere else. A) True. B) False. Show Answer Correct Answer: A) True. 15. Arturo gets his tax returns back from his accountant and discovers that he owes fewer property taxes this year than the previous year. As a result, he gets a refund of $ 3, 000. What impact will this have on him? A) He will be more likely to spend money on consumer goods and services. B) He will be less likely to spend money on consumer goods and services. C) He will not have to depend as heavily on subsidies as he did the previous year. D) He will pay fewer tariffs. Show Answer Correct Answer: A) He will be more likely to spend money on consumer goods and services. 16. HAVING ENOUGH MONEY TO COVER ALL YOUR EXPENSES MEANS YOU HAVE ..... A) A balanced budget. B) An uneven budget. C) Debt. D) None of above. Show Answer Correct Answer: A) A balanced budget. 17. Creating and implementing a plan for spending and saving is known as A) Budgeting. B) Balancing. C) Credit. D) Savings. Show Answer Correct Answer: A) Budgeting. 18. Your parents paid you $ 10 to clean out the garage. Is this an example of an income or expense? A) Income. B) Expense. Show Answer Correct Answer: A) Income. 19. Why are jingles so effective? A) Because we hear them over and over. B) Because they are for dumb advertisements. C) Because they are catchy and get stuck in our heads. D) Because we like the tune and words. Show Answer Correct Answer: C) Because they are catchy and get stuck in our heads. 20. According to the lesson, if a financial planner is helping you plan for the future, what is the one thing that he must take into account at that time? A) Your current career and salary. B) The risks involved. C) Your time. D) Your opportunity costs. Show Answer Correct Answer: A) Your current career and salary. ← PreviousNext →Related QuizzesPersonal Finance QuizzesPersonal Finance Quiz 1Personal Finance Quiz 2Personal Finance Quiz 3Personal Finance Quiz 4Personal Finance Quiz 5Personal Finance Quiz 6Personal Finance Quiz 7Personal Finance Quiz 8Personal Finance Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books