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Fin Lit Unit (Ch 16 & 17)

Authored by Samantha Sinclair

Business

9th - 12th Grade

Used 2+ times

Fin Lit Unit (Ch 16 & 17)
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28 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would be a personal asset?

your car payment

your personal computer

your home mortgage

your college loan

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Your net worth is

what you have left over in your paycheck each week after deductions are taken out.

the total amount of all of your investments.

the total value of your personal assets.

the difference between your personal assets and your liabilities.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you make a loan payment, your

liabilities decrease.

net income increases.

cash outflows decrease.

net worth is unaffected.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Take-home pay is

the amount of a paycheck before taxes and other payroll deductions.

the money you have available to spend as a result of working plus any other income, such as a gift or stock dividend.

the amount you will receive when you cash your paycheck.

cash inflows minus cash outflows.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If you have a budget, you should

learn how to plan for financial emergencies.

never buy anything on credit.

be able to buy anything you want.

all of these options

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following correctly shows the budgeting process?

set financial goals; maintain financial records; plan budget categories; evaluate your budget

plan budget categories; set financial goals; maintain financial records; evaluate your budget

set financial goals; plan budget categories; maintain financial records; evaluate your budget

maintain financial records; plan budget categories; evaluate your budget; set financial goals

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would probably be a short-term financial goal?

going on a three-week cruise

buying a new luxury automobile

going to college

purchasing a new game/album

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