Pre-Test – Managing Money (7 Questions)

Q1. What is the main purpose of having a personal budget?

• A. To stop spending money

• B. To track income and expenses

• C. To avoid paying taxes

• D. To help banks make loans

Q2. Which of the following is an example of a fixed expense?

• A. Takeaway food

• B. A movie ticket

• C. Weekly rent

• D. Buying new clothes

Q3. Why is saving money important?

• A. So you can lend it to friends

• B. To have money for emergencies

• C. To spend more on games

• D. So you can avoid budgeting

Q4. What does “overspending” mean?

• A. Buying items with a discount

• B. Spending more than your income

• C. Using only cash

• D. Saving too much

Q5. What is one way to reduce your mobile phone bill?

• A. Ignore your monthly usage

• B. Turn off Wi-Fi

• C. Monitor your data and app subscriptions

• D. Use your phone more

Q6. Which of the following habits could lead to debt?

• A. Tracking your expenses

• B. Paying bills on time

• C. Spending without checking your account

• D. Setting financial goals

Q7. You want to buy something that costs $100, but you only have $60. What should you do?

• A. Buy it and hope it works out

• B. Borrow money from a friend

• C. Wait and save the rest

• D. Use your lunch money to pay for it