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WorksheetsChapter 3 - Personal Finance
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
Face value is determined by the U.S. Treasury Department.
a)
True
b)
False
2.
Saving money is as much fun as spending it.
a)
True
b)
False
3.
It's harder to set saving goals than it is to set spending goals.
a)
True
b)
False
4.
Budgets are flexible.
a)
True
b)
False
5.
When you work, you receive a paycheck every two weeks.
a)
True
b)
False
6.
Which statement about people who live "paycheck to paycheck" is true?
a)
They do not have trouble earning enough to cover their bills.
b)
They often have a lot of stress because they are always worrying about not having enough money.
c)
They are willing to put their financial needs before their financial wants.
d)
all of the above
7.
What's it called when you save money without having a specific purpose in mind?
a)
an open-ended savings goal
b)
an ineffective savings goal
c)
a goal-driven savings goal
d)
a purpose driven savings goal
8.
Purchases, savings, and charitable donations are included in which part of a budget?
a)
expenses
b)
motivating factors
c)
financial goals
d)
income
9.
In a budget, snacks and entertainment are examples of which of the following?
a)
fixed income
b)
flexible income
c)
fixed expenses
d)
flexible expenses
10.
At the end of the month you subtract your actual expenses from your actual income. If the result is less than zero, what do you have?
a)
a surplus
b)
a deficit
c)
a balanced budget
d)
a missing entry
11.
Which of the following is not a common method of using electronic fund transfers?
a)
a debit card
b)
online banking
c)
a credit card
d)
online payment services
12.
Your personal finances include the money you
a)
save
b)
spend
c)
earn
d)
all of the above
13.
"Staying on budget" means
a)
having to spend exactly the amount you entered as expenses
b)
using your money according to your plan to achieve your financial goals
c)
needing to evaluate your budget to decide if the amounts are okay
d)
having to earn exactly the amount you entered as income in your budget
14.
If you are ______________, the amount of your paycheck might change pay period to pay period.
a)
an hourly employee
b)
a salaried employee
c)
employed
d)
all of the above
15.
Paying by check can be inconvenient because
a)
you can send it through the mail
b)
it might bounce
c)
if its stolen, your bank can stop payment on it
d)
you don't have to carry cash
16.
An amount your employer withholds from your earnings to pay for things such as taxes or insurance
a)
deduction
b)
electronic funds transfer
c)
cash
d)
standard of living
17.
Plans you have for using your money.
a)
wants
b)
needs
c)
financial goals
d)
financial decisions
18.
Things your buy to help you maintain a certain standard of living.
a)
financial needs
b)
financial wants
c)
paycheck
d)
salary
19.
Anything you exchange for goods or services
a)
money
b)
credit card
c)
debit card
d)
loan
20.
Measures how comfortable you are based on the things you own
a)
Budget
b)
Standard of living
c)
Variable Expense
d)
Flexible Expense
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