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Financial Literacy
Test Description: Financial Literacy
Instructions: Answer all questions to get your test result.
1) Something spent; a payment for goods or services?
A
Money
B
Credit
C
Expenses
D
Cash
2) A formal record of transactions made by an individual, business, or organization (put in a ledger)?
A
Notebook Paper
B
Financial Record
C
Statement
D
Recording
3) A book used to record financial transactions, especially as a final record?
A
Record Book
B
Notebook
C
Ledger
D
Phone Book
4) The exchange of money between two parties?
A
Payment
B
Pass The Cash
C
Deal
D
Transaction
5) Money available AFTER all deductions are taken?
A
Income
B
Gross Salary
C
Salary
D
Net Salary
6) Total money available BEFORE all deductions are taken?
A
Salary
B
Money
C
Net
D
Gross Salary
7) A tax deducted from a paycheck that includes Social Security and Medicare taxes?
A
Death Tax
B
Sales Tax
C
Payroll Tax
D
Addendum Tax
8) A plan for using money, usually for a month or a year?
A
Checking Account
B
Sock Drawer
C
Budget
D
Savings
9) Secure payment made on the internet?
A
Electronic Payment
B
Payment by Mail
C
Pass The Cash
D
Credit Card
10) Money paid to the federal government based on an individual's income?
A
Insurance Tax
B
Income Tax
C
Sales Tax
D
Net Tax
11) A card used to pay for goods or services where the money is immediately taken from the cardholder's bank account?
A
Debit Card
B
Social Security Card
C
Business Card
D
Credit Card
12) A card used where you buy things on credit and pay it back?
A
Credit Card
B
Social Security Card
C
Business Card
D
Debit Card
13) A tax paid on retail products (goods or services); a set percentage of the cost?
A
Sales Tax
B
Death Tax
C
Income Tax
D
Employment Tax
14) A tax paid yearly to the local government based on the value of the land and its structures?
A
Property Tax
B
Sales Tax
C
Death Tax
D
Employment Tax
15) A small table or chart used to track deposits added and expenses taken from an account?
A
Check Book
B
Register
C
Cash Register
D
Notebook
16) A budget in which your total expenses are not more than your total income?
A
Planned Budget
B
Balanced Budget
C
Previous Budget
D
Total Budget
*select an answer for all questions
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