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WorksheetsFinancial Literacy
Total questions: 11
Worksheet time: 6mins
Usually, the more education you receive the more money you can potentially earn.
True
False
What is the difference between gross pay and net pay?
Gross is money you have left after taxes
Net is money you have left after taxes
What type of taxes are taken out of your pay if you live in Texas?
Federal Income tax
FICA
State Income tax
All of the above
A & B
What is the estimated % of taxes taken out of your pay?
10%
15%
20%
25%
What deductions could be taken out of your pay check?
Health insurance premiums
Life insurance premiums
Retirement plan premiums
Garnishments
All of the above
In what order should you use your money?
Save it, spend it, invest it, give it away
Save it, invest it, spend it, give it away
Spend it, save it, invest it, give it away
Give it away, save it, invest it, spend it
What is the difference between a want and a need?
A want is something necessary to live
A need is something necessary to live
What is the best advice if you are going to use credit cards?
Pay off the entire balance every month
Get as many as you can
Pay only the minimum balance each month
Get a card with a high interest rate
How is your credit score calculated?
payment history
Amount & type of debt
Length of credit history
All of the above
Who needs a budget?
People who make lots of money
People who don't make very much money
Everyone who makes money
What documents are not typically used for identify theft?
Passport
Social Security Card
Birth Certificate
School ID Card
Driver's License/State ID/Military ID
