Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Ch. 3 Test Prep.
Test Description: Study for Ch. 3 test
Instructions: Answer all questions to get your test result.
1) Which of the following is a consequence of overdrawing your checking account?
A
Stress from money mismanagement
B
Bounced check fee from the store
C
All of the above
D
Overdraft fee from your bank
2) Doing a budget does not:
A
Make your money go further
B
Remove guilt and shame sometimes associated with a purchase
C
Make overspending more likely
D
Show if you are overspending in an area
3) Your monthly budget should include:
A
Fixed expenses
B
Variable expenses
C
Discretionary expenses
D
All of the above
4) Which of the following is something that a typical millionaire would do?
A
Spend less money than he or she makes
B
Carry debt
C
Lease a new car
D
Replace things that are not broken
5) Rent is a:
A
Fixed expense
B
Discretionary expense
C
Intermittent expense
D
Variable expense
6) Eating out is a:
A
Variable expense
B
Discretionary expense
C
Fixed expense
D
Intermittent expense
7) Car repairs are a
A
Fixed expense
B
Variable expense
C
Discretionary expense
D
Intermittent expense
8) Groceries are a
A
Variable expense
B
Intermittent expense
C
Discretionary expense
D
Fixed expense
9) A written budget, if followed, removes ________ from your finances.
A
Guilt
B
All of the above
C
Overspending
D
Management by crisis
10) The following are guidelines for budgeting with an irregular income except:
A
B) Make a list of all of your expenses for the month ahead.
B
C) Budgeting with an irregular income is no different than budgeting with a regular income.
C
A) Prioritize the list in order of importance.
D
D) When your check comes in, spend your money all the way down the list.
11) Percentage of Americans living paycheck to paycheck:
A
40
B
70
C
50
D
25
12) The zero-based budget is the best method of budgeting because:
A
C) Sticking to a zero-based budget requires less discipline
B
A) This type of budget is less complicated than other types of budgets
C
B) A zero-based budget allows less money for wants
D
D) The zero-based budget ensures that every dollar you make is assigned a specific purpose
13) Which of the following is not a record-keeping feature you could expect from your bank?
A
B) An account register
B
D) A monthly account statement
C
C) Customer service reconciles your account for you
D
A) A reconciliation sheet
14) Which of the following account records would have the most current balance?
A
D) All of these records will have accurate account balances
B
A) Account balance statement from the ATM
C
C) Your monthly bank statement
D
B) Your own account register
15) The number-one cause of divorce in North America today is stress and disagreements over money.
A
True
B
False
16) The envelope system works great for managing spending on things that donʹt normally have a fixed monthly expense.
A
False
B
True
17) If you write a zero-based budget every month, it is not necessary to reconcile your account.
A
True
B
False
18) Budgeting is crucial to your financial success
A
False
B
True
19) Writing and following a zero-based budget will help you avoid overspending and impulse purchases.
A
False
B
True
20) A debit card cannot be used for online purchases.
A
False
B
True
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?