Retirement planning should ideally begin...

when the first paycheck is received

the purpose of is form W-4 is to...

allow the employer to withhold federal income taxes from an employee's wages

allow the employee to participate in a tax-deferred savings plan

document a refund or figure a balance due to the IRS each year

itemize how much money was earned by an employee and how much was withheld and sent to the IRS

fbla personal finance

Quiz

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Business

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9th - 12th Grade

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Practice Problem

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Medium

Jazmire Ponder

Used 820+ times

FREE Resource

About this resource

This quiz focuses on personal finance fundamentals, covering essential money management concepts appropriate for high school students in grades 9-12. The questions assess students' understanding of core financial literacy topics including retirement planning, consumer protection, employment compensation, taxation, and budgeting principles. Students need to demonstrate knowledge of financial terminology, calculate overtime wages, understand tax documents like the W-4 form, distinguish between different types of income, and identify various budgeting components. The content requires students to apply mathematical skills to real-world financial scenarios while also memorizing key concepts such as pyramid schemes, cash flow analysis, and the difference between fixed and variable expenses. These foundational concepts prepare students for making informed financial decisions as they transition into adulthood and enter the workforce. Created by Jazmire Ponder, a Business teacher in the US who teaches grades 9-12. This quiz serves as an excellent tool for reinforcing personal finance concepts that students will use throughout their lives, making it ideal for formative assessment, homework assignments, or review sessions before major tests. Teachers can use this quiz as a warm-up activity to gauge student understanding of previously taught material or as practice before students take their FBLA (Future Business Leaders of America) competitive events. The content directly supports Common Core Mathematics standards for problem-solving with real-world applications and aligns with Jump$tart Coalition standards for personal financial literacy education. This assessment works particularly well for identifying knowledge gaps in essential topics like budgeting, taxation, and consumer awareness, allowing teachers to adjust instruction accordingly and ensure students master these critical life skills before graduation.

fbla personal finance

10 questions

Retirement planning should ideally begin...

The practice of pressuring consumers to buy more expensive product than what they had intended is called:

A type of financial fraudin which people pay to join an organization in exchange for the right to sell memberships to others is called a

On-the-job training is an example of:

If an hourly worker makes $15.00 per hour and earns time and a half for overtime, how much is the per hour pay for overtime if the employee works 40 regular hours and 6 overtime hours ?

Taxable income is used to compute:

the purpose of is form W-4 is to...

When preparing a budget, you need to focus mostly on your:

A person's ___ is a measure of the amount of money coming in versus the amount going out.

Which one of the following would be a monthly fixed expense for budgeting purposes?

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