Personal Income Evaluation Quiz

Which of the following is NOT listed as an option to increase personal income?

• Secondary income

• Boarders

• Pay increase

• Investing in cryptocurrency

What is a potential positive impact of a pay increase?

• Increased stress due to more responsibilities

• Higher income tax rates

• Ability to enjoy more expensive choices

• Less time for personal activities

What is a secondary income?

• Income from a primary job

• Income from selling personal items

• Income from government benefits

• Income from a second job or side hustle

What is a potential disadvantage of having boarders?

• Sharing personal space with strangers

• Increased personal space

• Tax-free income

• No need for additional expenses

Which of the following is considered unearned income?

• Salary from a job

• Dividends from shares

• Income from a second job

• Freelance work earnings

What is a potential negative impact of secondary income?

• More time for hobbies

• Increased socializing opportunities

• Less stress

• Higher income tax

What is the benefit of government financial support?

• Provides basic needs of life

• Guaranteed wealth

• No need to work

• Unlimited financial resources

What is a capital gain?

• Income from a second job

• Profit from selling an asset for more than its purchase price

• Salary increase

• Interest earned on savings

What is a potential positive impact of receiving dividends?

• Increased stress

• Decreased savings

• Higher income tax

• Additional income without extra work

What is a potential negative impact of a pay increase?

• Lower stress levels

• Higher income tax rates

• Decreased responsibilities

• More leisure time