Financial Literacy Quiz

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.L.6.6

CCSS.RI.4.4

CCSS.W.6.2D

CCSS.RI.5.4

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

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

Tags

CCSS.6.RP.A.3D

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.L.6.6

CCSS.RI.4.4

CCSS.W.6.2D

CCSS.W.5.2D

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

What is money earned? 

• Income
• Interest 
• Credit 
• Savings plan 

Tags

CCSS.7.RP.A.3

Which of the following is not a need?

• Food
• Transportation
• Rent
• Movies

True or False: Sticking to a budget is a good way of reaching savings goals

• True
• False

The amount of money a person makes after taxes and other deductions are taken out.

• Gross Income

• Net Income

Tags

CCSS.7.RP.A.3

Colin worked for 20 hours this week and he gets paid $10 per hour. What is Colin's GROSS Income?

• $30

• $20

• $300

• $200

Tags

CCSS.7.EE.B.3