Financial Literacy Test

Financial Literacy Test

5th Grade

28 Qs

quiz-placeholder

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Financial Literacy Test

Financial Literacy Test

Assessment

Quiz

Mathematics

5th Grade

Hard

5.10.E

Standards-aligned

Created by

AILEEN MAHON

Used 1+ times

FREE Resource

28 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cedric earned $720 this week. His federal income taxes were $82.75. His pay after taxes was $599.47. How much did he pay in state income tax if he paid only federal and state income taxes?

$25.95

$37.78

$637.25

$682.22

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Felicia is buying a new MP3 player, which costs $55 plus tax. Felicia gives the cashier $100 and receives $41.70 in change. How much sales tax does Felicia pay on her purchase?

$55

$3.30

$60

$58.30

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Cheryl's September budget is not balanced. By how much must she decrease her expenses to balance her budget?

$103

$52

$48

$40

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Talia's gross monthly income is $2,300. Her total monthly payroll taxes are $345. What is Talia's net monthly income?

$1,955

$300

$400

$2,645

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Mrs. Runkle pays a tax every year because she owns a house. Which term best describes this tax?

Income tax

Property tax

Payroll tax

Sales tax

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This month Kim's expenses are greater than her budget. What are two actions Kim can take in order to balance her budget?

Increase expenses and decrease income

Decrease expenses and decrease income

Decrease expenses and increase income

Increase expenses and increase income

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which expression can be used to find the amount of money Nikil has in available funds after he goes roller skating?

$95 – $9.45

$85.55 – $20

$95 – $20

$85.55 – $9.45

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