This quiz works best with JavaScript enabled. Home > Personal Finance > Personal Finance > Personal Finance – Quiz 167 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Personal Finance Quiz 167 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A fixed amount you have to pay when you borrow money A) Interest rate. B) Donation. C) Budget. D) Savings. Show Answer Correct Answer: A) Interest rate. 2. Which is the correct type of insurance that would be used:Joey's father is in a car accident and cannot work. What type of insurance replaces his father's earnings? A) Property and liability. B) Health. C) Life. D) Disability. E) Workers' compensation. Show Answer Correct Answer: D) Disability. 3. A type of savings that signifies that you own a part of a corporation and a claim to their assets and earnings. A) Stock. B) Share. C) Dividend. D) None is correct. Show Answer Correct Answer: A) Stock. 4. Which of the following can have a negative effect on your credit score? A) Paying on time. B) Having a long credit history. C) Using too much credit. D) Paying off debt. Show Answer Correct Answer: C) Using too much credit. 5. What do people use income for? A) To pay for supplies. B) Goods and services. C) Taxes. D) Budget. Show Answer Correct Answer: B) Goods and services. 6. What is a finance charge? A) The amount of interest charged to an account for the billing cycle. B) A fixed annual percentage rate of the finance charge. C) A charge from the bank for getting a credit card. D) None of the above. Show Answer Correct Answer: A) The amount of interest charged to an account for the billing cycle. 7. You can diversify your investments to reduce ..... A) Risk. B) Debt. C) Inflation. D) Interest. Show Answer Correct Answer: A) Risk. 8. What is progressive tax? A) Nothing important. B) Income tax. C) Tax that takes larger percentage from people that make more money than other. D) Tax that takes larger percentage from people that make less money than everyone else. Show Answer Correct Answer: C) Tax that takes larger percentage from people that make more money than other. 9. Exercise A) A "want". B) A "need". Show Answer Correct Answer: B) A "need". 10. Belief that a person can repay money borrowed for an item. A) Savings. B) Credit. C) Spending. D) Income. Show Answer Correct Answer: B) Credit. 11. The money the employer pays for the employee to the government. A) Payroll. B) Income. C) Property. D) Sales. Show Answer Correct Answer: A) Payroll. 12. Complete record of your borrowing and repayment performance. (a) A) A Credit history. B) Personal info. C) Personal history. D) Credit info. Show Answer Correct Answer: A) A Credit history. 13. Allows individuals to buy goods or services now and pay for them later A) Credit. B) Credit score. C) Credit check. D) Credit card. Show Answer Correct Answer: A) Credit. 14. Cathy has $ 30 in the bank. She makes a withdrawal of $ 4. How much money does she have in the bank now? A) $ 43. B) $ 26. C) $ 34. D) None of above. Show Answer Correct Answer: B) $ 26. 15. Why are non-essential items budgeted last in a personal budget? A) They can be cut if necessary, especially if an unexpected emergency arises. B) The categories in a personal budget are arranged alphabetically. C) Non-essential items are needs and cannot change, so they are considered last. D) Non-essential items are not important in a budget, and should not be included. Show Answer Correct Answer: A) They can be cut if necessary, especially if an unexpected emergency arises. 16. The least amount that must be paid on a credit card each month is A) Late Fee. B) Credit Limit. C) Payment amount. D) Minimum Payment. Show Answer Correct Answer: D) Minimum Payment. 17. Lenny's employer deducts 0.2 times his gross income in payroll taxes. What is his net income if his gross income is $ 367? A) $ 7.34. B) $ 73.40. C) $ 293.60. D) $ 440.40. Show Answer Correct Answer: C) $ 293.60. 18. What are the types of investments A) Lottery, stocks, stock mutual funds, Bonds, and savings account. B) Credit, character, Collateral. C) Credit union and banks. D) None of above. Show Answer Correct Answer: A) Lottery, stocks, stock mutual funds, Bonds, and savings account. 19. Which would be the best choice for a credit card? A) One with a high annual fee and a high interest rate. B) One with no annual fee and a high interest rate. C) One with a high annual fee and a low interest rate. D) One with no annual fee and a low interest rate. Show Answer Correct Answer: D) One with no annual fee and a low interest rate. 20. Email has both advantages and disadvantages as a form of communication. A) T. B) F. Show Answer Correct Answer: A) T. ← 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