What is Social Security?

A private insurance system just for the elderly

The amount of money someone has

What are the three main types of taxes?

Unemployment, sales, and property

Federal income, unemployment, and state

Sales, property, and unemployment

The amount of money you have from your wages, salary or tips.

The amount of money you have left after you pay your taxes.

The amount of money you have from your tax return.

The amount of money you have from donations.

The amount of money you have left after paying your taxes.

The amount of money from a tax refund.

The amount of money from gifts and donations.

The amount of money you have before paying your taxes.

Which answer choice BEST describes saving?

setting aside money for future use

loaning money to another individual

earning money in exchange for work

planning how to spend one's income

Why do people make personal budgets?

. to help them manage their income

to schedule their vacation days

. to help them manage their leisure time

Net worth is found by

subtracting liabilities from assets

subtracting expenses from income

dividing monetary assets by current liabilities

dividing monthly debt by monthly income

What is a "want" in terms of budgeting?

Something you would like to have but don't need

What is a "need" in terms of budgeting?

Something you would like to have but don't need

JA Finance Practice Quiz

Authored by Jeremey Troutman

Social Studies

7th Grade

Used 3+ times

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31 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a plan for how money will be used

budget

interest

investment

stock

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Three main types of taxes

federal, state, unemployment

income, sales, property

sales, property, unemployment

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

NAI

net a income

net annual income

net monthly income

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GMI

gross annual income

net monthly income

gross monthly income

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of earnings made in one month before deductions

NAI

NMI

GAI

GMI

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The things you do well

aptitudes

abilities

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Your natural talents

abilitties

aptitudes

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