
Budgeting Quiz
Authored by Valerie Melgoza
English
8th Grade
CCSS covered

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20 questions
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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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