Financial Literacy Test

Quiz
•
Mathematics
•
5th Grade
•
Hard
Standards-aligned
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
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
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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