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Personal Finance Quiz

Authored by House of Learning

Social Studies

10th Grade

Used 1+ times

Personal Finance Quiz
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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered a fixed expense?

Groceries

Electricity bill

Rent

Dining out

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of a personal budget?

To track investment returns

To control government spending

To plan and control personal income and expenses

To calculate GDP

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement best defines net worth?

Assets + Liabilities

Assets - Liabilities

Liabilities - Assets

Income - Expenses

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Emergency funds should typically cover how many months of expenses?

1-2 months

3-6 months

7-12 months

1 year

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the most important reason to track your spending?

To increase your credit score

To apply for a mortgage

To understand your cash flow

To avoid taxes

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A high credit score generally indicates:

A high debt-to-income ratio

Poor credit history

Responsible credit usage

High bank balance

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following will likely decrease your credit score?

Paying bills on time

Having a credit card

Maxing out your credit card limit

Using less than 30% of your credit limit

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