Budgeting Practice Quiz
Mathematics
9th - 12th Grade
CCSS covered
Used 10+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of these is an example of a fixed expense?
The junk food Preston buys almost every day and doesn't share with the rest of us
The gas you fill up your car with every week
The groceries you buy every month
The insurance premiums you pay every month
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Your apartment rent, tickets to a concert, a pepperoni pizza, and your cell phone bill are all examples of…
Wants
Needs
Income
Expenses
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of the following items has the lowest unit price?
A 19 oz box of brand-name cereal for $3.99
A 21.6 oz box of generic cereal for $2.93
A 29.4 oz box of brand-name cereal for $4.99
A 39 oz bag of generic cereal for $4.68
Tags
CCSS.6.RP.A.3B
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
On the first day of every month, Aaron sits down at his computer, builds a spreadsheet, and allocates all of his income toward expenses or saving. There’s no dollar that is unaccounted for in his budget. Which strategy is Aaron using?
Cash envelope system
50/30/20 budgeting
Zero-based budgeting
Expense management
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
When making your budget, you realize that you will not earn enough money to cover all of your expenses. All of the following are suggested ways of balancing your budget, EXCEPT...
Getting a roommate to share housing expenses
Borrowing money from Big Johnny's Bank every month to make up the difference
Spending less on food by eating out less and buying in bulk
Reducing transportation costs by using public transportation instead of owning a car
Tags
CCSS.7.NS.A.3
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which piece of advice about budgeting for variable expenses is most useful?
Aim to reduce your variable expenses to $0 on your budget because they are always “wants”
Track your variable expenses for a few months to find your average monthly costs
Do NOT budget for variable expenses, since they only make 5% of total spending on average
Focus on budgeting for fixed expenses because they are easier to change
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of these statements accurately describes fixed expenses in a budget?
They are often hard to change and they usually make a small impact on your budget
They are often easy to change and they usually make a small impact on your budget
They are often hard to change and they usually make a large impact on your budget
They are often easy to change and they usually make a large impact on your budget
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