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WorksheetsPersonal Financial Literacy
Total questions: 15
Worksheet time: 14mins
Name
Class
Date
1.
Money you receive after taxes is called:
a)
gross income
b)
net income
c)
salary
d)
pay day
2.
Money you receive before taxes is called:
a)
gross income
b)
net income
c)
pay day
d)
bank loan
3.
Expenses that change from month to month are called:
a)
fixed expenses (bills, loans, etc)
b)
variable expenses (emergency costs, vacations, car repairs, etc)
c)
stable pricing
d)
irrational pricing
4.
Long term savings goals would include...
a)
vacation
b)
new phone
c)
buying a house
d)
car
5.
When you own a house, what type of tax do you pay on it?
a)
income tax
b)
sales tax
c)
property tax
d)
payroll tax
6.
What type of tax do you pay for Cheetos and soda?
a)
income tax
b)
sales tax
c)
property tax
d)
payroll tax
7.
Which type of tax is taken directly out of your paycheck?
a)
payroll tax
b)
income tax
c)
paycheck tax
d)
sales tax
8.
Which type of tax do you pay once a year on any money you've earned (job, lottery, etc)?
a)
payroll tax
b)
income tax
c)
sales tax
d)
property tax
9.
Which of the following is considered a "need" when budgeting?
a)
money for eating out
b)
money for going to the movies
c)
money to pay for your house
d)
money for your dog's toys
10.
What is a machine that allows bank customers to deposit or withdraw money without visiting their bank?
a)
ATM (automated teller machine)
b)
credit card
c)
safe deposit box
d)
coffee can under your bed
11.
What is the current amount of money in your bank account called?
a)
balance
b)
debt
c)
withdrawl
d)
payment
12.
What is a company that sells goods or services?
a)
business
b)
bank
c)
economy
d)
credit union
13.
What is a system that guides how money is earned and used in a society?
a)
economy
b)
transaction
c)
financial institution
d)
bank
14.
What is money borrowed that must be repaid, usually with interest?
a)
loan
b)
check
c)
checking account
d)
savings account
15.
What is an account that usually earns interest and is often used to hold money that is not needed right away?
a)
savings account
b)
checking account
c)
loan
d)
transaction
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