Personal Finance Vocabulary Question Preview (ID: 55649)


Use Your Knowledge Of Personal Finance To Play The Games. TEACHERS: click here for quick copy question ID numbers.

Which is NOT a way to receive income?
a) through a gift
b) through allowance
c) winning a prize
d) growing on trees

What is an example of a variable expense?
a) a mortgage bill (house loan)
b) a car payment
c) an electric bill
d) a cell phone bill

What is an example of a fixed expense?
a) An electric bill
b) A water bill
c) A gas bill
d) A mortgage bill (house loan)

What is the best way to manage your money?
a) Spend all your money and when you run out wait until you get more and spend again
b) Ask your parents for money when you run out
c) Create a budget
d) Take out loans

Which of the following is an emergency fund NOT to be used for?
a) In cases of unexpected medical situations
b) In case of unexpected pet bills
c) In case you lost your job
d) In case you want to take a fun weekend vacation

Which is the LEAST risky way to invest your money?
a) In stocks
b) In a savings account
c) In gold
d) In mutual funds

Which of the following the MOST risky way to invest your money?
a) In a savings account
b) In a certificate of deposit (CD)
c) In stocks
d) In mutual funds

What can happen if a buyer can't pay back a debt?
a) They get forgiven for the debt and don't have to pay it back.
b) They go to jail
c) Fees can be added to the amount of the debt
d) Nothing happens

Which of the following does a credit score NOT determine?
a) To determine if a person can get a mortgage loan
b) To determine if a person can get a credit card
c) To determine if a person can get a car loan
d) To determine if the person is smart

Which of the following WILL NOT hurt your credit score?
a) Not paying your cell phone bill on time
b) Not paying your rent on time
c) Not paying your credit card bills on time
d) Paying your credit card bill off every month

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