8th Grade Personal Finance Cumulative Test
Authored by Daniel Mantell
Financial Education
8th Grade
Used 1+ times
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46 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a budget?
A plan for how to spend and save money
A type of loan
A credit card
An investment
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a fixed expense?
Eating out
Rent or mortgage payment
Buying clothes
Entertainment
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does “income” mean?
Money you earn or receive
Money you spend
Money you borrow
Money you save
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of saving money?
To spend it immediately
To build a financial safety net
To pay off debt
To buy on credit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does APR stand for?
Annual Percentage Rate
Average Payment Rate
Annual Payment Report
Applied Payment Rate
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a good reason to use a checking account?
To keep your money safe and pay bills easily
To get a loan
To earn a high interest rate
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is interest?
The money you borrow
The fee paid for borrowing money or the money earned on savings
A type of tax
A government penalty
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