This quiz works best with JavaScript enabled. Home > Personal Finance > Personal Finance > Personal Finance – Quiz 151 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Personal Finance Quiz 151 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. When do we change our budgets? A) When we feel like it. B) When we don't like our budget. C) When we go on vacation. D) When our wants and needs change. Show Answer Correct Answer: D) When our wants and needs change. 2. What is a financial document that outlines a person's income and expenses? A) A loan application. B) A savings account. C) A personal budget. D) A checking account. Show Answer Correct Answer: C) A personal budget. 3. The four sectors that affect the U.S. economy are: A) Banks, businesses, health care, government. B) Schools, taxes, grocery stores, restaurants. C) Banks, businesses, government, households. D) Households, government, businesses, hospitals. Show Answer Correct Answer: C) Banks, businesses, government, households. 4. Which financial statement is used to find assets, liabilities, and net worth? A) Trial balance. B) Balance Sheet. C) Cash Flow Statement. D) Income Statement. Show Answer Correct Answer: B) Balance Sheet. 5. Things that are essential to life A) Wants. B) Needs. Show Answer Correct Answer: B) Needs. 6. Resume definition? A) Personal data sheet, biographical summary, professional profile, or vita. B) A courteous phrase used to end a letter. C) The message section of the letter. D) None of above. Show Answer Correct Answer: A) Personal data sheet, biographical summary, professional profile, or vita. 7. Why do households "sell their labor" to businesses? A) To receive government services. B) To receive small business loans. C) To receive income. D) To receive tax money. Show Answer Correct Answer: C) To receive income. 8. People who know you well enough to recommend you for a job. A) Reference. B) Recommendation. C) Applicant. D) Application. Show Answer Correct Answer: A) Reference. 9. Which of the statements on US tax revenue in 2019 is true? A) The revenue spent on international affairs is bigger than the one to spent on military. B) The revenue spent on unemployment and labor is bigger than the one to pay interest on debt. C) The revenue was mostly spent to pay interest on government debt. D) Military and health make up the majority cause the revenue was spent. Show Answer Correct Answer: D) Military and health make up the majority cause the revenue was spent. 10. Hich of the following answers lists 4 year colleges from generally the least expensive to most expensive? A) In-state public university, private university, out-of-state public university. B) In-state public university, out-of-state public university, private university. C) Private university, in-state public university, out-of-state public university. D) Out-of-state public university, private university, in-state public university. Show Answer Correct Answer: B) In-state public university, out-of-state public university, private university. 11. A tax paid by employers based on employees' wages A) Payroll tax. B) Sales Tax. C) Property Tax. D) Income Tax. Show Answer Correct Answer: A) Payroll tax. 12. Paying the entire amount on my credit card creates a bad credit history. A) True. B) False. Show Answer Correct Answer: B) False. 13. The four rights of consumers A) Safety, informed, heard, choose. B) Safety, education, learn, choose. C) Safety, consumer, heard, choose. D) Listen, hear, choose, inform. Show Answer Correct Answer: A) Safety, informed, heard, choose. 14. Econonomics is ..... A) The study of how banks operate within their own systems. B) The system by which a company mandates its financial resources. C) The study of how businesses manage their resources. D) The study of how a society manages its resources to produce and distribute goods and services. Show Answer Correct Answer: D) The study of how a society manages its resources to produce and distribute goods and services. 15. Cash, debit card, savings, credit A) Types of money. B) Minimum balance requirement. C) Interest. D) Individual Retirement Account (IRAs). Show Answer Correct Answer: A) Types of money. 16. Which tends to carry the highest interest? A) Checking Account. B) Savings Account. C) Certificates of Deposit (CD's). D) None of above. Show Answer Correct Answer: C) Certificates of Deposit (CD's). 17. Which of the following is the best definition of interest rate? A) Credit worthiness. B) Money paid by a borrower in exchange for the use of money. C) Rewards earned by using credit cards. D) A percentage used to earn profits for businesses. Show Answer Correct Answer: B) Money paid by a borrower in exchange for the use of money. 18. A short-term loan that provides immediate cash by securing a borrower's written check A) Pawn Loan. B) Payday Loan. C) Refund Anticipation. D) Rent to Own. Show Answer Correct Answer: B) Payday Loan. 19. The name for a part of a business that is bought and sold on the stock market is: A) Part. B) Marker. C) Stocker. D) Share. Show Answer Correct Answer: D) Share. 20. The most common types of insurance policies include homeowners, health, and auto. A) True. B) False. Show Answer Correct Answer: A) True. ← 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