DCMoneyMattersTest#1

Which of the following are TRUE about gross income and net income?

• Gross income and net income are the same

• Net income is sometimes called "take home pay"

• Gross income is the total amount earned before deductions

• Net income is the total amount earned before deductions

It's common to have all of the following expenses BEFORE signing a lease EXCEPT...

• Renter's Insurance

• Application fee

• Application deposit

• Apartment hunting expenses

According to a rule of thumb, rent shouldn't take up more than ___ % of your take-home pay.

• 7-12%

• 10-15%

• 15-20%

• 25-30%

Tags

CCSS.6.RP.A.3C

Which of the following is NOT a cost of owning a car?

• License and Registration fees

• Gasoline

• Utilities

• Insurance

Jabar broke his leg while riding his bike. How does having health insurance help him?

• Jabar will likely have to pay $0 towards his medical costs

• Jabar will likely have to cover 100% of his medical costs

• Jabar will likely owe a portion of his medical costs

• Having health insurance makes no difference

What is a deductible?

• The cost you and your insurance share

• The amount your insurance pays before you pay

• The discount you get on your health insurance every year

• The amount you pay before your insurance begins to pay

Tags

CCSS.6.RP.A.1

CCSS.6.RP.A.2

Which of the following is an example of buying something you NEED?

• "I want to replace something that is no longer working."

• "I want to impress someone/ change how they feel about me."

• "I'm feeling down, and I need to boost my spirits."

• "I don't want to miss out on these deals during the sale!"

Tags

CCSS.RL.11-12.3

CCSS.RL.6.3

CCSS.RL.7.6

CCSS.RL.8.6

CCSS.RL.9-10.3

Who primarily uses our tax money?

• Your employer

• The state government

• The Federal government

• Local Businesses

The W-4 form lets...

• the government know how much you paid in taxes last year

• your employer know how much to withhold from your paycheck

• the 3 major credit bureaus know how many dependents you have

• you know how much you paid in taxes last year

Jess is 21, in college, & has a job that provides 65% of her support. Is she a dependent?

• Yes

• No