Budgeting Quiz

Budgeting Quiz

8th Grade

20 Qs

quiz-placeholder

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Budgeting Quiz

Budgeting Quiz

Assessment

Quiz

English

8th Grade

Practice Problem

Hard

CCSS
6.RP.A.3C, 7.RP.A.3, 6.RP.A.3B

Standards-aligned

Created by

Valerie Melgoza

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Define the term "Budget."

A plan for making and spending money

Costs that do not change from month to month

Expenses that vary from month to month

A method for saving money

2.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

What are fixed expenses?

Costs that do not change from month to month

Expenses that vary from month to month

A plan for making and spending money

Costs that increase annually

3.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

What is the difference between a short-term and long-term goal?

Short-term is within the next couple of years; long-term is five years or more

Short-term is five years or more; long-term is within the next couple of years

Short-term is within a month; long-term is within a year

Short-term is within a week; long-term is within a month

4.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

What is the first step in the Rational Decision-Making Process?

Define the problem or opportunity

Set goals and identify evaluation criteria

Identify alternatives

Choose the best alternative

5.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

To be financially savvy, what should always be higher than your expenses?

Savings

Income

Debt

Taxes

Tags

CCSS.7.RP.A.3

6.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

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

Entertainment

Car repairs

Auto insurance

Doctor bills

7.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

What is one of the five things you must consider for budget and cost of living in your life?

Favorite color

Number of pets

Marital status

Vacation plans

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