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Module 101-102 Review Part 2
Test Description: Module 101-102 Review Part 2
Instructions: Answer all questions to get your test result.
1) When you use a weekly budget, it is impossible to plan for a monthly expense.
A
False
B
True
2) Discretionary income may be used to pay for short-term financial goals.
A
True
B
False
3) Weekly budgets are
A
meant to account for income and expenses over a period of 28-31 days
B
easy to ignore
C
flexible
D
tough to maintain
4) Paying for ______ is an example of an essential expense.
A
D. a basketball jersey
B
C. cold medicine
C
A. a cup of coffee
D
B. a music download
5) ______ are examples of financial obligation expenses.
A
Credit card bills
B
Haircuts
C
Gym fees
D
Birthday presents
6) When creating a budget, it helps to ______ your expenses.
A
leave out
B
use a credit card for all of
C
categorize
D
underestimate
7) Discretionary income is the same thing as ______ income.
A
anticipated
B
disposable
C
essential
D
short-term
8) A _____ budget is ideal for a person who gets paid weekly or does not make the same amount of money each week.
A
weekly
B
monthly
C
long-term
D
daily
9) If you get paid ______, then a monthly budget is ideal.
A
Daily
B
annually
C
monthly
D
weekly
10) The money you have left over after you have deducted all expenses from your income during a budgetary period is called your
A
unanticipated income
B
anticipated income
C
savings
D
winnings
*select an answer for all questions
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