Chapter 3 Earnings and Income Test
Authored by Helen Yu
Financial Education
12th Grade
Used 5+ times
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78 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 2 pts
To accumulate wealth, you need to generate a(n)?
Surplus.
Deficit.
Expense.
Loan.
2.
MULTIPLE CHOICE QUESTION
3 mins • 2 pts
Which of the following refers to the money left over after all of your expenses have been paid?
Surplus
Deficit
Net worth
Assets
3.
MULTIPLE CHOICE QUESTION
3 mins • 2 pts
Which of the following refers to expenses exceeding income?
Surplus
Deficit
Net worth
Assets
4.
MULTIPLE CHOICE QUESTION
3 mins • 2 pts
Which of the following indicates the percentage of income that you are actively saving?
Surplus
Deficit
Net worth
Savings ratio
5.
MULTIPLE CHOICE QUESTION
3 mins • 2 pts
Which of the following is the same as a savings ratio over a specific time period?
Surplus.
Deficit.
Targeted savings ratio.
Assets.
6.
MULTIPLE CHOICE QUESTION
3 mins • 2 pts
Which of the following indicates the percentage of your income that you are spending to pay down your debts?
Surplus.
Total debt to income ratio.
Targeted savings ratio.
Savings ratio.
7.
MULTIPLE CHOICE QUESTION
3 mins • 2 pts
Which of the following refers to having your employer take money automatically from your paycheck and contribute it directly to a retirement savings plan or a savings account?
Payroll deduction.
Total debt to income ratio.
Targeted savings ratio.
Savings ratio.
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