Everfi Quiz: Venture Module 1

Which of the following is an example of a tax

• line of credit

• rental payment

• cash payment

• medicare

What are taxes

• sources of income

• optional payments you make to the state and local governmet

• refunds you receive for overpayment

• mandatory payments you make to state and local governments

which of the following is a variable expense

• health insurance

• groceries

• rental payments

• student loan payments

When is a budget considered balanced

• when the amount you save is less than the amount you spend

• when the amount you spend is equal or less than the amount you earn

• when the amount you earn is equal or less than the amount you spend

Which of the following is a fixed expense

• movie tickets

• groceries

• rental payments

Which of the following is an example of a need?

• your favorite candy

• a warm winter coat

• a new pair of headphones

Which of the following is a want

• a place to live

• critical medicine

• movie tickets

What are federal taxes

• payments you make to the US federal government

• money you earn from working at a job

• payments you make to the state government

What is Medicare

• federal life insurance for people under age 65

• federal health insurance for people over age 65

• federal life insurance for people over age 65

What is take home pay

• amount left over from your paycheck after deductions

• amount left over from your paycheck before deductions

• what you earn each month in income minus what you save