You want to reduce the amount of loans you'll need to take out for college, so you want to save as much money as you can ahead of time. What's the BEST strategy?

When you receive any income, either through gifts, allowance, or working, set a goal of saving at least half before you spend the other half.

Every time you receive a paycheck, spend carefully and then save any money you have left over at the end of the month.

Spend whatever you want during the first 2 years of high school, but then save everything you earn during the last 2 years of high school.

Don't do anything fun during high school so you're not tempted to spend money.

Which statement best describes what a budget is?

A plan for how much income you expect to have and how you want to save and spend it

A list of all the money you spent during the last month

A statement from your bank that shows your ATM withdrawals

A list for which scholarship and grants you will use to pay for college

Lamar recently graduated and lives in an apartment he shares with two friends. Each of these expenses is probably a NEED in Lamar's budget EXCEPT...

Going out every Friday to celebrate "Roommate Fun Night" with his friends

Paying his portion of the electric bill

Paying $600 for his monthly rent

Making his cell phone payment on time so his service isn't shut off

Which action would REDUCE the amount of money in Kendra's checking account today?

Using an ATM to withdraw money using her debit card

Using a gift card she received for her birthday at her favorite store

Using her smartphone to deposit a check from her employer

Using an ATM to deposit a check from her employer

Your friend, Hollis, has asked you to review her resume for a job. What type of information can you expect to be listed?

Her work and volunteer experience

Courses she plans to take in high school

A list of her favorite website and apps

What are the five parts of a friendly letter?

date, greeting, body, closing, signature

date, address, greeting, information, signature

greeting, body, closing, signature, P.S.

date, introduction, body, conclusion, signature

Business Leadership Test Review

Authored by Kristin Dickerson

Life Skills

6th - 8th Grade

Used 10+ times

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

Content View
Student View

20 questions

Show all answers

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important to have an emergency fund?

The fund is used to pay for your health and car insurance, where emergencies are common.

The fund is used to pay for college so you don't have to take out student loans.

The fund is used to pay for unexpected expenses, so that you don't have to go into debt if there's an emergency.

The fund is used to make donations to charities, who need your help to do good work.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Kellen is saving for a new video game system, which costs $300. He receives an allowance of $30 per month, and he usually spends $15 and saves $15 each time. How many months will it be until Kellen has enough saved to buy the game system?

10 months

12 months

20 months

30 months

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Now that she's got her own apartment and her first high-paying job, Rita is creating a budget. What are the two main categories that will help her form a budget?

Paycheck and taxes

Insurance and investments

Income and expenses

Credit cards and debit cards

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement best describes NEEDS vs WANTS?

NEEDS are monthly bills you must pay, while WANTS are monthly bills you are excited to pay.

NEEDS are required expenses you cannot avoid, while WANTS are optional items you choose to buy.

NEEDS are expenses for your entire family, while WANTS are expenses for you personally.

NEEDS are expenses the government pays for you, while WANTS are expenses you must pay for yourself.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which action would INCREASE the money in Shirley's checking account?

She uses a person-to-person app to pay a friend for dinner.

She uses her debit card to buy a holiday gift.

She uses her smartphone to deposit a check from her grandpa.

She uses a prepaid card to pay for a month of movie streaming.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Phillip purchased a share of Microsoft. He can earn money on this investment by selling it for more than he purchased it for. What type of investment did Phillip purchase?

Mutual Fund

Bond

Stock

Index Fund

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Your friend, Marco, is excited to apply for his first summer job. However, he needs to submit a resume and is unsure of what to include. What information would you recommend he include in his resume?

His parents' names and contact information

His involvement in extracurricular activities & leadership roles

Courses he plans to take in high school

A list of his favorite websites and apps

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Continue with Google

Continue with Email

Continue with Microsoft

or continue with

Facebook

Apple

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?

Similar Resources on Wayground

21 questions

Out Of My Mind: Chapters 11-20

Quiz

•

6th Grade

15 questions

Honesty

Quiz

•

1st - 6th Grade

23 questions

Farm Safety

Quiz

•

7th - 8th Grade

20 questions

The Importance of Being Organized

Quiz

•

6th - 8th Grade

15 questions

East Side Sushi

Quiz

•

7th - 12th Grade

25 questions

Maslow's heirarchy of needs

Quiz

•

8th Grade

15 questions

drivers ed

Quiz

•

KG - University

21 questions

Adivina Canciones

Quiz

•

8th Grade

Popular Resources on Wayground

10 questions

Safety Day 2026 – Student Review

Quiz

•

9th Grade

21 questions

Continents and Oceans

Quiz

•

6th Grade

20 questions

Parts of Speech

Quiz

•

5th Grade

16 questions

Subject & Predicate

Quiz

•

5th Grade

25 questions

Multiplication Facts

Quiz

•

5th Grade

12 questions

Map Skills

Quiz

•

3rd Grade

22 questions

Continents and Oceans

Quiz

•

5th Grade

15 questions

Rounding Decimals

Quiz

•

5th Grade

Discover more resources for Life Skills

16 questions

Career Clusters

Quiz

•

6th Grade

20 questions

Bullying

Quiz

•

7th Grade

Business Leadership Test Review

Why is it important to have an emergency fund?

Kellen is saving for a new video game system, which costs $300. He receives an allowance of $30 per month, and he usually spends $15 and saves $15 each time. How many months will it be until Kellen has enough saved to buy the game system?

Now that she's got her own apartment and her first high-paying job, Rita is creating a budget. What are the two main categories that will help her form a budget?

Which statement best describes NEEDS vs WANTS?

Which action would INCREASE the money in Shirley's checking account?

Phillip purchased a share of Microsoft. He can earn money on this investment by selling it for more than he purchased it for. What type of investment did Phillip purchase?

Your friend, Marco, is excited to apply for his first summer job. However, he needs to submit a resume and is unsure of what to include. What information would you recommend he include in his resume?

You want to reduce the amount of loans you'll need to take out for college, so you want to save as much money as you can ahead of time. What's the BEST strategy?

Jodi wants to visit her extended family in Barbados next summer, and the flight costs $450. How much does she need to save each month if she wants to buy the flight in exactly 9 months?

Which statement best describes what a budget is?

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Life Skills