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Ramsey - Chapter 2 - Lesson 2 (Quiz)

Authored by David Cooper

Business

9th Grade

DOK Level 1: Recall covered

Used 16+ times

Ramsey - Chapter 2 - Lesson 2 (Quiz)
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the key elements of creating a budget?

Tracking your expenses

Learning about different types of investments

Understanding economic theories

Studying the history of money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT listed as a common budget category for using cash?

Groceries

Restaurants

Gas

Savings

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of expense is described as non-essential?

Fixed Expense

Variable Expense

Intermittent Expense

Discretionary Expense

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of expense can vary in amount and frequency?

Fixed Expense

Variable Expense

Intermittent Expense

Discretionary Expense

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of expense occurs at irregular intervals and is not always the same amount?

Fixed Expense

Variable Expense

Intermittent Expense

Discretionary Expense

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which budget categories are typically managed with cash according to the document?

Groceries, restaurants, gas, entertainment, and personal

Groceries, utilities, gas, entertainment, and personal

Groceries, restaurants, gas, entertainment, and investments

Groceries, restaurants, gas, entertainment, and savings

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of identifying sources of income and the four different types of expenses in budgeting?

To understand the basics components of a budget

To learn how to save money

To understand investment strategies

To learn about financial history

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