This quiz works best with JavaScript enabled. Home > Personal Finance > Personal Finance > Personal Finance – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Personal Finance Quiz 2 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which part of the SMART goal is missing? "I plan to save $ 1500 to buy a used car. I will do this by canceling my home cable service and saving that $ 75 each month instead." A) Attainable. B) Realistic. C) Measurable. D) Time-Bound. Show Answer Correct Answer: D) Time-Bound. 2. The type of insurance that provides protection against financial loss from medical bills is called A) Health insurance. B) Coinsurance. C) Life insurance. D) Premium. Show Answer Correct Answer: A) Health insurance. 3. A cost that varies with the level of output. SSEPF4c A) Fixed costs. B) Profit. C) Variable costs. D) Savings. Show Answer Correct Answer: C) Variable costs. 4. The listed price of the car without options is ..... A) MSRP. B) Dealer Invoice Price. C) Base Price. D) None of above. Show Answer Correct Answer: C) Base Price. 5. What is another benefit to saving money? A) ) You can buy something less expensive in the future. B) ) You can buy something now instead of in the future. C) ) You can buy something more expensive in the future. D) None of above. Show Answer Correct Answer: C) ) You can buy something more expensive in the future. 6. The out-of-pocket money paid by the policyholder before an insurance company will cover the remaining costs attributed to the loss is called: A) Deductible. B) Premium. C) Policy. D) None of above. Show Answer Correct Answer: A) Deductible. 7. The purpose of saving money in personal finance? A) Spending on luxury items and vacations. B) Building an emergency fund and achieve financial goals. C) Investing in high-risk assets. D) Donation to charity. Show Answer Correct Answer: B) Building an emergency fund and achieve financial goals. 8. Annual Percentage Rate (APR) is the yearly percentage rate of the finance charge. A) True. B) False. Show Answer Correct Answer: A) True. 9. What is a proportional tax? A) A tax levied on manufactured goods and services. B) Type of tax in which the tax rate increases as income decreases. C) Type of tax in which the tax rate increases as income increases. D) Type of tax in which the tax rate stays the same over all incomes. Show Answer Correct Answer: D) Type of tax in which the tax rate stays the same over all incomes. 10. A card used to make purchase on credit. "Buy now, pay later." A) Checking Account. B) Savings Account. C) Credit Card. D) LR Account. Show Answer Correct Answer: C) Credit Card. 11. Most banks offer an app so you can log in to check how much money has been deposited, spent, and so you know your account ..... A) Withdraw. B) Inflation. C) Budget. D) Balance. Show Answer Correct Answer: D) Balance. 12. All of the following are tips for creating a resume except for A) Keep the design simple. B) Use keywords. C) Use power words. D) Keep resume to two pages. Show Answer Correct Answer: D) Keep resume to two pages. 13. CARD THAT SENDS A STATEMENT AFTER EACH BILLING CYCLE A) CREDIT CARD. B) DEBIT CARD. C) EBT CARD. D) GIFT CARD. Show Answer Correct Answer: A) CREDIT CARD. 14. Co-signer A) Amount that insured must pay before insurance. B) A person who agrees to share responsibility for the account with the primary cardholder. C) Used for depositing money at a bank or other financial institution, with low interest rates. D) Government pays the interest on the loan while you're in college. Show Answer Correct Answer: B) A person who agrees to share responsibility for the account with the primary cardholder. 15. Tuition and fees, housing, and dining are all considered direct costs of attending college A) True. B) False. Show Answer Correct Answer: A) True. 16. What type of bank account is most linked to spending? A) Savings Account. B) Fixed Deposit Account. C) Checking Account. D) Recurring Deposit Account. Show Answer Correct Answer: C) Checking Account. 17. One reason the decision in Dred Scott v. Sanford (1857) was so controversial is that it A) Strengthened the idea of popular soverignty. B) Gave enslaved persons full citizenship. C) Ruled that congress has no power to limit slavery in the territories. D) Supported Harriet Beecher Stowe's point of view in Uncle Tom's Cabin. Show Answer Correct Answer: C) Ruled that congress has no power to limit slavery in the territories. 18. A budget is used to ..... A) To help people improve their education and skills. B) To help people determine how to train for their jobs. C) To help people live healthier lives and exercise more. D) To help people plan their spending and saving decisions. Show Answer Correct Answer: D) To help people plan their spending and saving decisions. 19. When you pay your local taxes, you pay for ..... A) Parks. B) Education. C) Fire Departments. D) All the above. Show Answer Correct Answer: D) All the above. 20. Wilmer just received a small inheritance of $ 3500 and would like to put the money in a savings account that will pay 2.75% interest compounded monthly. How much will Wilmer's account be worth at the end of 8 years? A) $ 4360.17. B) $ 4865.63. C) $ 30812.90. D) $ 4270.00. Show Answer Correct Answer: A) $ 4360.17. ← PreviousNext →Related QuizzesPersonal Finance QuizzesPersonal Finance Quiz 1Personal Finance Quiz 3Personal Finance Quiz 4Personal Finance Quiz 5Personal Finance Quiz 6Personal Finance Quiz 7Personal Finance Quiz 8Personal Finance Quiz 9Personal Finance Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books