Personal Finance Chapter 1 Vocabulary Quiz

Personal Finance Chapter 1 Vocabulary Quiz

8th Grade

15 Qs

quiz-placeholder

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Personal Finance Chapter 1 Vocabulary Quiz

Personal Finance Chapter 1 Vocabulary Quiz

Assessment

Quiz

History

8th Grade

Practice Problem

Easy

Created by

George Parks

Used 14+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an asset?

A monthly plan for saving and spending

Anything of value that is owned by an individual

The cost of goods or services

An obligation to repay borrowed money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a budget help you do?

Plan how to save and spend your income

Calculate interest on investments

Determine the value of assets

Repay borrowed money

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is compound interest?

Interest paid only on the principal investment

Interest paid on an investment and on any interest previously earned

The charge for borrowed money

The cost of goods or services

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is a consumer?

A person or organization that grants loans

A person or organization that purchases a product or service

A person or organization that saves money

A person or organization that invests in stocks

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does credit involve?

The creation of a budget

The granting of a loan and the creation of debt

The calculation of net worth

The investment in growth accounts

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is debt?

The cost of goods or services

An obligation to repay borrowed money

The total value of a person's assets

Interest paid on investments

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an expense?

The charge for borrowed money

The cost of goods or services

Money put into an account for growth

Anything you owe

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