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E3 - Personal Money Management

Test Description: E3 Personal Money Management

Instructions: Answer all questions to get your test result.

1) Setting aside money for future use is called?

ADebt BIncome CSavings DLoan

2) An amount of money loaned to a person that must be paid back along with additional interest is known as...

AProfit BInterest CCredit DBudget

3) What is extra money that must be paid back in addition to the money you borrowed?

ABudget BInterest CProfit DCredit

4) A plan for spending and saving is also known as....

ABudget BCredit CProfit DInterest

5) The part of your budget where money is spent on things that are needed or wanted

ASavings BIDK CExpenditure DIncome

6) Borrowed money is also known as

AIncome BSavings CExpenditure DDebt

7) The amount of money a person earns during a year

AIncome BExpenditure CSavings DDebt

8) _______ is the starting point of personal financial management

ADebt BExpenditure CIncome DSavings

9) Based on your interests, skills, training and job availability, it is important to choose...

Aa career path Ba household budget Ca bank Da credit card

10) All of the following can help increase your earning potential EXCEPT what?

AReference Letters/Resume BEducation CExperience DSkills

11) What are the three main parts of a budget?

AExpenditures, loans, credit BCredit, debt, savings CCredit, savings, income DIncome, expenditures, savings

12) Which of the following is considered risky?

AExpenditures BIncome CDebt DSavings

13) All of the following are reasons to save money EXCEPT:

AYou might have an expensive purchase you are planning to buy BYou have zero expenses as an adult and have nothing else to spend your money on CYou might have an unexpected purchase to make, such as a flat tire or roof that needs repairing DOne day you would like to retire and still have enough money to pay bills and live comfortably

*select an answer for all questions

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