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Financial Literacy

Authored by Morgan Schluter

Mathematics

5th Grade

CCSS covered

Used 3+ times

Financial Literacy
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40 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Amanda has to pay taxes on her annual salary and investments. Which type of tax is Kimberly paying? 

Sales Tax
Property Tax
Payroll Tac
Income Tax

Tags

CCSS.L.6.6

CCSS.RI.4.4

CCSS.RI.5.4

CCSS.W.5.2D

CCSS.W.4.2D

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an advantage of using a credit card?

Interest is charged for the use of a credit card.

Consumers can purchase things now, and pay for them later in the event of an emergency.

You could be a victim of identity theft.

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Alyssa has her first job at the local bakery. After working for one week, she received her first paycheck. The total amount of money she is able to put in the bank is $75.62. What type of income does this amount describe?

Gross Income
Net Income
Both Gross and Net Income
None of the above

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Jonathan's new clothes cost a total of $572.50 before tax. What type of tax does Jonathan have to pay for his new clothes?

Income Tax
Property Tax
Payroll Tax
Sales Tax

Tags

CCSS.L.6.6

CCSS.RI.4.4

CCSS.RI.5.4

CCSS.W.5.2D

CCSS.L.4.6

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Amarise's salary has a net income of $235 per week. If she pays $30 in income tax and $15 in payroll tax, how could Juliette determine her gross income? Why?

235 – 30 – 15 = $190 Net income minus all deductions equals gross income.
235 + 15 = $250 Net income plus payroll tax deductions equals gross income.
235 + 30 = $265 Net income plus income tax deductions equals gross income.
235 + 30 + 15 = $280 Net income plus all deductions equals gross income.

Tags

CCSS.6.NS.B.3

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Anthony has a new job. He is paid twice a month. He wants to save $720 a year to put toward college. How much money does Anthony need to save from each paycheck

Anthony should save $30 from each paycheck.
Anthony should save $20 from each paycheck.
Anthony should save $10 from each paycheck.
Anthony should save $5 from each paycheck.

Tags

CCSS.L.K.5A

CCSS.L.1.6

CCSS.L.3.6

CCSS.W.2.3

CCSS.W.3.3C

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Jenny just received her first paycheck. She noticed that after they deducted $30 for payroll taxes and $60 for medical insurance. Her net pay was $320. How much did Jenny make before the deductions were removed from her gross pay?

$230
$410
$320
$140

Tags

CCSS.7.EE.B.3

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