Financial Literacy Quiz

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

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.4.6

CCSS.RI.4.4

CCSS.RI.5.4

CCSS.W.5.2D

CCSS.W.4.2D

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

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.4.6

CCSS.RI.4.4

CCSS.RI.5.4

CCSS.W.5.2D

CCSS.W.6.2D

Which of the following is considered an advantage to using a debit card to make purchases?

• Debit cards are convenient and easy to carry around.
• Purchases can be made quickly and easily.
• You can use many ATMs to get cash.
• All of the above.

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

The total tax an employer withholds is called...

• Sales Tax
• Income Tax
• Payroll Tax
• Property Tax

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

What is the amount of money you earn, before taxes are taken out?

• Net Income
• Gross Income
• Property Income

The amount of money left over after taxes are taken out is called...

• Gross Income
• Net Income

Tags

CCSS.7.RP.A.3

What would be considered an expense?

• Allowance
• Movies

Tags

CCSS.L.1.5A

CCSS.L.1.5B

CCSS.L.K.5A

What is property tax?

• Money that wage earners pay the government to run the country. The amount of the tax depends upon how much I earn.

• Tax on wages and salaries to finance Social Security and Medicare costs.

• the amount of money collected by a store (retailer), in addition to a good or service that was purchased, for the local government as required by law

• the amount of money collected on the value of a property for the local government as required by law