Budgeting Quiz

Budgeting Quiz

12th Grade

10 Qs

quiz-placeholder

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Budgeting Quiz

Budgeting Quiz

Assessment

Quiz

Life Skills

12th Grade

Medium

Created by

Ramon Torres

Used 3+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the acronym SMART stand for in the context of financial goals?

Sensible, Manageable, Attainable, Reasonable, Thoughtful

Strategic, Motivating, Ambitious, Resourceful, Targeted

Sustainable, Meaningful, Achievable, Relevant, Time-bound

Specific, Measurable, Action-oriented, Realistic, Timely

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of a short-term financial goal?

Saving for a house

Saving for a car

Saving for retirement

Saving for college

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of an emergency fund?

To save for a vacation

To save for a car

To save for college

To cover unexpected expenses

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are fixed expenses?

Expenses that change month-to-month

Expenses that are the same every month

Expenses for entertainment

Expenses for groceries

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the key to maintaining a balanced budget?

Neither increasing income nor reducing expenses

Both increasing income and reducing expenses

Reducing expenses

Increasing income

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean to have a budget surplus?

Income and expenses are unknown

Income is equal to expenses

Expenses are greater than income

Income is greater than expenses

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the consequence of having expenses exceed income in the long term?

Achieving financial goals

Building savings

Increasing income

Accumulating debt

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