Personal Finance Quiz

When you own a house what kind of tax do you pay on it?

• income tax

• payroll tax

• sales tax

• property tax

Which type of tax to you pay once a year on any income you've earned (job, lottery, etc)

• sales tax

• income tax

• property tax

• payroll tax

Expenses that change from month to month are called:

• stable pricing

• fixed expenses (bills, loans, etc)

• variable expenses (vacations, emergencies, car repairs, etc)

• irrational pricing

What is a company that sells goods or services?

• business

• bank

• economy

• credit union

What is the current amount of money in your bank account called?

• payment

• balance

• debt

• withdrawal

Which of the following is considered a 'need' when budgeting?

• money for eating out

• money for dog's toys

• money for paying for your house

• money for going to the movies

Money you receive before taxes is called:

• net income

• pay day

• gross income

• bank loan

What is an account that usually earns interest and is often used to hold money not needed right away?

• loan

• savings account

• transaction

• checking account

What type of tax do you pay for Cheetos and soda?

• income tax

• sales tax

• payroll tax

• property tax

Which type of tax is taken directly out of your paycheck?

• income tax

• paycheck tax

• payroll tax

• sales tax