What is the primary purpose of a budget?

W!SE Financial Literacy Quiz

Quiz
•
Information Technology (IT)
•
11th Grade
•
Easy
MARK GREENE
Used 1+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To track expenses
To plan for future financial goals
To calculate taxes
To determine credit score
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is considered a fixed expense?
Groceries
Rent
Entertainment
Clothing
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for calculating simple interest?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a benefit of having a high credit score?
Higher interest rates on loans
Easier approval for credit cards
More frequent credit checks
Increased debt limits
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main advantage of a Roth IRA compared to a traditional IRA?
Contributions are tax-deductible
Withdrawals are tax-free in retirement
Higher contribution limits
No age limit for contributions
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a liquid asset?
Real estate
Savings account
Retirement fund
Collectibles
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term "diversification" mean in investing?
Investing in a single stock
Spreading investments across various assets
Selling all investments at once
Investing only in bonds
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