Personal Finance Final Review

Personal Finance Final Review

9th Grade

10 Qs

quiz-placeholder

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Personal Finance Final Review

Personal Finance Final Review

Assessment

Quiz

Business

9th Grade

Practice Problem

Medium

Created by

Sajdah Muhammad

Used 2+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Isaiah works at a technology company in the summer and earns $3000. After federal, state, and Social Security/Medicare taxes are deducted, his take-home pay is $2,500. Which of the statements below is CORRECT?

His gross pay is $3,000 and net pay is $2,500

His gross and net pay are $3,000

His gross and net pay are $2,500

His gross pay is $2,500 and net pay is $3,000

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The purpose of a 1040 form is to...

Report the total amount of income you received as an independent contractor.

Provide the information needed to calculate tax withholding from your paycheck.

File your annual income tax return.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

School A has sticker price of $52,000 and an average net price of $6,000 for families with income of less than $60,000. Meanwhile, School B has sticker price of $22,000 and an average net price of $11,000 for families with income of less than $60,000. If your number one factor in selecting a school was cost and your family income was under $60,000, which school would you choose?

School A

School B

Neither school -- only choose a college that will allow you to graduate debt free

Either school -- you can always take out student loans, and then the cost won't matter as much

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the BEST answer: Which of these represents a major convenience of using a mobile banking app?

Most banks waive all fees for customers who use mobile banking

Mobile banking is the only way to transfer money electronically between accounts

You can deposit physical checks by using your phone to take a picture of the front and back and sending it through your mobile app

You can leave your debit card safely at home, because stores that accept debit will also take payment via your phone instead

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which order do you want to apply for and accept aid to pay for college?

Scholarships & grants, federal student loans, private student loans, work study

Scholarships & grants, work study, federal student loans, private student loans

Federal student loans, work study, scholarships & grants, private student loans

Federal student loans, private student loans, work study, scholarships & grants

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these would represent a withdrawal you could see on your monthly checking account statement?

Direct deposit of your paycheck

A credit for a shirt you returned to a store at the mall

A person-to-person payment from a friend who owed you money for picking up the lunch tab

A debit card purchase for concert tickets you bought online

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Nancy receives his Financial Aid Award Letter and notices Federal Work-study in the amount of $2000. What does this mean?

He is receiving a $2000 scholarship based on his outstanding work ethic throughout high school

He is eligible to take a paid work-study job while he attends college, with the expectation that he will use his earnings toward college-related costs

He will receive a $2000 loan that he does not need to repay until he is working full-time

He must work a work-study job and earn $2000 before he can enroll in classes

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