
Personal Finance
Quiz
•
Social Studies
•
7th Grade
•
Practice Problem
•
Medium
Christy Davis
Used 72+ times
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18 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is income?
The money you receive from doing work.
The money you owe someone else.
The money you get back when someone repays a debt.
The amount you're allowed to borrow.
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Why would you want to keep a monthly budget?
Without a plan, you could overspend
Because you need to know how much money you have.
You need to be sure you can afford to pay all your bills.
Oh, just let somebody else do it for you.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean to spend money?
To put money in a savings account.
To use the money you've earned to purchase things.
To make a budget each month.
To work a job to get money.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is credit?
Your ability to work a job.
Your ability to spend money.
Your ability to save money.
Your ability to borrow money.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is an advantage of a good credit score?
You are a high risk.
Banks will loan you money at a lower interest rate.
Banks won't loan you money.
You will end up farther in debt.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage to using credit cards?
It's easier than carrying cash.
You could end up owing lots of money.
You pay immediately with your savings account when you purchase an item.
They are difficult to steal.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you improve your credit score?
Pay your debts on time.
Don't purchase anything.
Have lots of credit cards open.
Charge as much as you can on your cards.
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