This quiz works best with JavaScript enabled. Home > Personal Finance > Personal Finance > Personal Finance – Quiz 23 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Personal Finance Quiz 23 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Yearly amount that you get paid A) Interest. B) Wage. C) Salary. D) Saving. Show Answer Correct Answer: C) Salary. 2. Money that you make from your job is known as what? A) Income. B) Credit. C) Supply. D) Demand. Show Answer Correct Answer: A) Income. 3. Which of the following is an example of fixed expenses A) Groceries. B) Water. C) Rent. D) Gas. Show Answer Correct Answer: C) Rent. 4. A Standing Order is A) Different amounts are collected from your bank account each month to pay a bill. B) When you use your debit card to pay for something in a shop. C) The same amount is collected from your bank account each month to pay a bill. D) A charge made by your bank. Show Answer Correct Answer: C) The same amount is collected from your bank account each month to pay a bill. 5. This section of the resume include school involvement. A) Personal Information. B) Activities. C) Education. D) Experience. Show Answer Correct Answer: B) Activities. 6. Which of the following statements comparing credit and debit cards is TRUE? A) Businesses accept credit cards more often than debit cards. B) Credit card companies provide you with a monthly statement while debit cards do not. C) When you use a credit card, the money comes directly from your bank account. D) With debit cards, you are spending your own money, with credit cards you are promising to pay the money back. Show Answer Correct Answer: D) With debit cards, you are spending your own money, with credit cards you are promising to pay the money back. 7. Which type of tax comes directly out of your paycheck? A) Property Tax. B) Sales Tax. C) Income Tax. D) Ad Valorem Tax. Show Answer Correct Answer: C) Income Tax. 8. Which is the "A" in SMART Goal? A) Acquired. B) Attainable. Show Answer Correct Answer: B) Attainable. 9. Auto lease A) Agreement where a lessee pays the lessor to use the car for a fixed amount of time. B) Investment where you purchase something you believe people will want to buy from you later. C) Used for depositing money at a bank or other financial institution, with low interest rates. D) Amount charged by the bank for allowing you to use their credit card. Show Answer Correct Answer: A) Agreement where a lessee pays the lessor to use the car for a fixed amount of time. 10. Federal income taxes, state income taxes, and Social Security withholdings are all ..... A) Payroll taxes. B) Sales taxes. C) Real estate taxes. D) Capital taxes. Show Answer Correct Answer: A) Payroll taxes. 11. When you use a credit card, what are you really doing? A) You are lending money to a bank or business. B) You are earning interest on the money. C) You are saving the money for a rainy day. D) You are borrowing money from a bank or business. Show Answer Correct Answer: D) You are borrowing money from a bank or business. 12. Match the definition to its term: ..... is money lent to a borrower or put into an investment. A) Savings. B) Principal. C) Term. D) Credit. Show Answer Correct Answer: B) Principal. 13. Stock market index that tracks 500 of the largest companies in the US. It shows the performance of the companies included and it reports risks and returns. A) Consumer. B) S&P 500. C) Inflation. D) 500 stocks. Show Answer Correct Answer: B) S&P 500. 14. Qualifications to be a reference? A) Random person you find on a street. B) Someone you have known for at a least a year and not related to and over 18 years old. C) Is at least 4 years old. D) None of above. Show Answer Correct Answer: B) Someone you have known for at a least a year and not related to and over 18 years old. 15. How seriously one pursues the expectations and tasks associated with their job A) Credit Score. B) Work Ethic. C) Punctuality. D) Teamwork. Show Answer Correct Answer: B) Work Ethic. 16. With respect to your financial freedom, financial planning is vital and involves some key aspects related to finance. A) Know your current financial position. B) Financial Goal setting. C) Both (a) and (b). D) None of them. Show Answer Correct Answer: C) Both (a) and (b). 17. Kelly works for a large firm and her boss tells her that a promotion will be available soon. She wants the job, so she works as hard as she can to impress her boss. Kelly is motivated by a A) Negative incentive. B) Positive incentive. C) Rational decision. D) List of alternatives. Show Answer Correct Answer: B) Positive incentive. 18. Which is an example of a good? A) Nurse. B) Mechanic. C) Basketball. D) Cook. Show Answer Correct Answer: C) Basketball. 19. The process of projecting, organizing, monitoring, and controlling future income and expenses is known as personal finance. A) True. B) False. Show Answer Correct Answer: A) True. 20. FICA tax on your paycheck is collected for Medicaid and what else? A) Income tax. B) Sales tax. C) Social security. D) Health. Show Answer Correct Answer: C) Social security. ← 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