Financial Literacy (AES) Test

What is this employee's gross pay for the year?

• $972.67

• $1,280

• $872.53

• $7680

Alexis received paychecks from both her jobs and she would like to deposit them. One check is for $62.88 and the other is $523.22. She would like to keep $150 for herself. Is her deposit slip completed correctly?

• No

• Yes

How often is this employee paid?

• Quarterly

• Weekly

• Bi-weekly

• Monthly

What is this employee's net pay?

• $972.67

• $7680

• $123.12

• $307.34

Many banks will require a minimum deposit of ____to ______to open an account.

• $0, $100

• $100, $1,000

• $25, $50

• $50, $100

How many hours did this employee work during this pay period?

• 80

• 40

• 08

• 72

An account that allows you easy access to your money and allows the use of checks and debit cards.

• Certificate of Deposit

• Money Market

• Savings

• Checking

An account, similar to savings, but requires higher balances to avoid monthly fees and has limited check writing privileges.

• Certificate of Deposit

• Money Market

• Savings

• Checking

What is the definition of a "need"?

• Something you do not need to survive.

• Something you would like to have.

• Something that is necessary for you to survive.

• Something that is important for you to have.”

Entertainment and dining out are important expenses in a budget and should not be cut.

• True

• False