Personal Finance Question Preview (ID: 46799)


Personal Finance. TEACHERS: click here for quick copy question ID numbers.

Which would be an example of an income?
a) Shopping for food
b) Wages from job
c) Tickets to a football game
d) Buying your mom a present

a plan for how income will be spent.
a) debit
b) credit
c) budget
d) deposit

The money you pay the government when you purchase some items.
a) Payroll taxes
b) Income taxes
c) Sales taxes
d) Property taxes

Store has a sale of 20% off. Jane buys a shirt that usually cost $20. How much did she save?
a) $16
b) $20
c) 4%
d) $4

Chili's requires an 18% tip for the server. Your food cost $78. What is your final bill?
a) $94.00
b) $96.00
c) $92.04
d) $14.04

Find the commission of selling a new cell phone : $2,000, at 7.5% commission rate
a) $1,500.00
b) $250.00
c) $75.00
d) $150

Commission usually applies to which of the following occupations
a) retail- clothing sales
b) Car dealer
c) Real estate
d) all occupations listed

Which of the following impacts a persons earnings?
a) Career choice
b) Ability to find employment
c) Ability of advancement
d) All answers listed

Which is NOT a form of borrowing?
a) buying with a credit card
b) Buying on installment
c) investing in bonds
d) Cash advances

What is the difference between saving and investing?
a) the amount of return and the availability of the funds.
b) savings can only be used for emergencies
c) savings accounts generally earn a higher return than investments.
d) Investment accounts generally earn a lower return than savings.

Which would be considered the highest risk investment type?
a) Stock
b) bonds
c) mutual funds
d) collectibles

Why is it important to start investing as soon as possible?
a) You take less risk when you are young, so money will be safe
b) Investing is an easy way to make quick money
c) You have more time for your money to compound interest
d) Fees on investments are cheaper when you are younger

Which of the following is not a type of investment?
a) stocks
b) bonds
c) Real estate
d) payday loan

Which of the following is not a benefit of saving?
a) Save for future purchases
b) earn income
c) encourages a healthy economy
d) earn high interest

A key difference between saving and investing is
a) Savings is for everyone, investing if for the wealthy
b) Investing has a guaranteed return, savings does not
c) Saving is emergencies goals, investing is long-term wealth
d) Your money is insured when investing, it is not in savings

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