NEW
Font size
S
M
L
XL
WorksheetsFinancial Planning
Total questions: 22
Worksheet time: 11mins
Name
Class
Date
1.
Which of the following is known as purchasing an item on a whim?
a)
Impulse
b)
Fixed
c)
Flexible
d)
Online purchase
2.
What is the first step of the decision making process?
a)
Evaluating the decision
b)
Identify the decision
c)
Identify resources
d)
Identify options
3.
Which of the following best describes a budget?
a)
A financial tool for consumers with little money
b)
A plan for saving and spending money
c)
A set of restrictions on how to spend money
d)
A statement of your assets and liabilities
4.
What is the purpose of a balance sheet?
a)
To determine your budget
b)
To determine your income
c)
To determine your credit card debt
d)
To determine your net worth
5.
Which of the following is known as something you own.
a)
Liabilities
b)
Assets
c)
Net worth
d)
Gross income
6.
Which of the following is known as something you owe.
a)
Assets
b)
Liabilities
c)
Identity theft
d)
Budgeting
7.
What is an example of assets?
a)
Paid off house
b)
house mortgage
c)
credit card debt
d)
student loans
8.
What is an example of liabilities?
a)
Credit card debt
b)
Paycheck
c)
Savings account
d)
Paid off house
9.
Which of the following is known as conducting business with financial institutions over the internet?
a)
online banking
b)
gross income
c)
net income
d)
financial planning
10.
Which of the following is known as paying bills electronically over the internet rather than sending a paper check through the mail?
a)
Online bill presentment
b)
Balance sheet
c)
Online bill payment
d)
Online banking
11.
Which of the following is known as when a company sends bills electronically over the Internet rather than sending a paper bill through the mail?
a)
Online banking
b)
Online bill payment
c)
Online bill presentment
d)
Financial planning
12.
Which of the following is known as the total amount of money you expect to earn before taxes and deductions?
a)
Net worth
b)
Discretionary income
c)
Gross income
d)
Balance sheet
13.
Which of the following is known as expenses that are not absolutely necessary?
a)
Gross
b)
Net
c)
Discretionary
d)
Credentials
14.
Which of the following is an expense that stays the same every month?
a)
Rent
b)
Groceries
c)
Electric
d)
Credit card
15.
What are 2 things consumers spend most of their money on?
a)
Food and Clothes
b)
Housing and Transportation
c)
Insurance and Housing
d)
Transportation and Food
16.
Which document is used as proof of identity?
a)
Cancelled check
b)
Tax return
c)
Insurance policy
d)
Passport
17.
Why do you need to keep a record of donations to charity for?
a)
Legal proof
b)
Loan applications
c)
Tax purposes
d)
Medical reasons
18.
How long do you keep pay stubs?
a)
3 months
b)
Until 2 years past employment
c)
Until you verified your bank statement
d)
Until you verified your W-2
19.
How long do you keep cancelled checks?
a)
3 years
b)
6 years
c)
Until you verified your bank statement
d)
1 year
20.
Which of the following describe to put in long-term storage?
a)
discretionary
b)
variable expense
c)
archive
d)
safe deposit box
21.
Where is the safest place to store a birth certificate?
a)
filing cabinet
b)
desk drawer
c)
safe deposit box
d)
locked briefcase
22.
Which of the following is known as licenses, certifications or degrees that indicate qualifications?
a)
Accomplishments
b)
Credentials
c)
Business
d)
Profession
Reset
