wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Test Your Personal Finance Knowledge

Total questions: 100

Worksheet time: 2hrs 40mins

Name
Class
Date
1.

What is an emergency fund?

a)

A savings account set aside for unexpected situations.

b)

A way to invest for retirement.

c)

Something most people don't need, because emergencies are rare.

d)

An investment account that can grow over time.

2.

How many months of expenses should be set aside for an emergency fund?

a)

3-6 months

b)

6-12 months

c)

12-18 months

d)

1-3 months

3.

What is debt?

a)

Money you have borrowed and need to pay back

b)

Money you make from working at a job

c)

Money you make from the government

d)

Taxes that you pay when you buy something

4.

What is insurance?

a)

A service purchased to protect assets and income against financial loss.

b)

A type of savings account where you put aside money for emergencies.

c)

A type of investment account where you can buy shares of stock.

d)

A kind of taxes charged by the government.

5.

What type of account allows for tax-advantaged savings and investments for college?

a)

A 529 College Savings Plan

b)

A 418 University Investment Account

c)

A checking account at your local bank

d)

A brokerage account with your preferred investment firm

e)

A savings account at a large national bank

6.
What happens if you do not pay a credit card bill on time?
a)
Use your debit card
b)
You go into debt
c)
Declare bankrupty
d)
Pay interest
7.
What is the safest way to pay for an item to avoid debt?
a)
Cash
b)
Check
c)
Credit
d)
Debit
8.
Which card takes the money out of your account immediately?
a)
Credit 
b)
Debit
9.
When do you start paying into Social Security?
a)
When you retire
b)
When you turn 30
c)
When you get a full-time job
d)
When you want to
10.
What is the riskiest type of bond?
a)
Municipal
b)
Savings
c)
Corporate
11.
Which bank account earns you the most interest?
a)
Savings
b)
Checking
c)
Certificate of Deposit
12.
Who pays interest on a loan?
a)
The borrower
b)
The bank
13.
Who pays interest when you deposit money in the bank?
a)
The depositor
b)
The bank
14.
To measure the stock market as a whole people look to 
a)
Dow Jones
b)
Stockbrokers
c)
Individual stocks
d)
Unemployment rate
15.
Stock brokers can a portion of the profit they make, this is called
a)
Commutation
b)
Interest
c)
Commission
d)
S&P 500
16.
Bad credit can affect your ability to 
a)
Buy a home
b)
Get a job
c)
Get a loan
d)
All of the above
17.
Amount of money originally borrowed
a)
Mortgage
b)
Principal 
c)
Annual percentage rate (APR)
d)
Finance company
18.
What will you pay back if you borrow $
a)
principal only
b)
interest only
c)
interest and finance charges
d)
principal + interest
19.
A savings account with a specific time period
a)
Savings Account
b)
Checking Account
c)
Certificate of Deposit (CD)
d)
Bond
20.
Which of the following is an example of a fixed expense?
a)
Rent
b)
Groceries
c)
Gas
d)
Clothes
21.
The least amount of money you can pay on a credit card per month.
a)
Credit Limit
b)
Minimum Payment
c)
Annual Percentage Rate
d)
Opportunity Cost
22.
What do debit cards and checks have in common? 
a)
The money comes directly out of your account
b)
You can pay the full amount later
c)
You are really taking out a small loan
23.
The agreement to receive cash, goods or services now and pay for them later.
a)
Check
b)
Debit
c)
Credit
d)
Late Fee
24.
Which of the following best describes what dividends are?
a)
The increased value of a stock.
b)
A periodic payment to the owners of a stock.
c)
A reward for selecting good stocks.
25.
Money owed to a person or a business
a)
Debit
b)
Credit
c)
Debt
d)
Late Fee
26.
This financial institution charges the most for interest but provides quick cash
a)
credit union
b)
savings and loan
c)
bank
d)
pay day loan company
27.
In general, the higher the potential return on an investment, the riskier the investment.
a)
True
b)
False
28.
The amount of money you make per year
a)
Monthly income
b)
Annual income
c)
Monetary
29.

Which of the following is an example of a payroll deduction?

a)

Net pay

b)

Overtime hours

c)

Health insurance

d)

Pay rate

30.

Developing a personal budget is an effective way to:

a)

calculate assets

b)

increase debt

c)

pay bills

d)

manage money

31.

Saving the money you might ordinarily spend each day on a cup of coffee and a donut:

a)

is not a practical step in reaching your financial goals

b)

will not result in significant savings

c)

is the sacrifice you must make for the future financial security

d)

can help you achieve larger financial goals

32.

Which of the following is the most effective way to pay off bills:

a)

pay the largest bills first

b)

pay the smallest bills first

c)

pay those with the highest interest rates first

d)

pay those with the lowest interest rates first

33.

What is the most negative information possible on a credit report?

a)

late payment

b)

lien

c)

collection agency report

d)

bankruptcy

34.

Individuals are most likely to require the services of a mortgage company when they want to

a)

invest in the stock market

b)

earn interest on savings

c)

purchase real estate

d)

acquire liability insurance

35.

The disadvantage to using credit cards to pay for goods and services is that you

a)

defer cash payments

b)

pay interest on purchases

c)

establish a credit rating

d)

earn quarterly dividents

36.
Which type of investment provides more flexibility?
a)
money market
b)
savings account
c)
certificates of deposit
d)
stocks and mutual funds
37.
When is the BEST time to borrow money?
a)
when interest rates are low
b)
when a person has a poor credit rating
c)
when a person has no job or steady income
d)
when a person wants to purchase an expensive item
38.
When should people buy less on credit?
a)
when interest rates are low
b)
when they have other debts
c)
when they have no collateral
d)
when they have no savings account
39.
Which group of people have increased their use of credit cards the most in recent years?
a)
teenagers
b)
college students
c)
people over the age of 65
d)
middle-aged people
40.
Which form of payment is the most expensive for the buyer?
a)
cash
b)
check
c)
debit card
d)
credit card
41.

___________________ is when money is taken out of an account.

a)

debit

b)

credit

c)

interest

d)

deposit

42.

_______________________ is the fee paid on a loan when borrowing money.

a)

credit

b)

debit

c)

interest

d)

charges

43.

_____________________ is money that is borrowed.

a)

balance

b)

debit

c)

credit

d)

interest

44.

Which account type allows you to earn interest?

a)

checking account

b)

credit card

c)

mortgage

d)

certificate of deposit

45.

Which account type lets you spend your money easier?

a)

savings account

b)

checking account

c)

certificate of deposit

d)

mortgage

46.
The amount of income you have before taxes and other deductions are taken out.
a)
Paycheck
b)
Net Pay
c)
Gross Pay
d)
Minimum Wage
47.
The ability to easily convert financial assets to cash.
a)
Opportunity Cost
b)
Checking Account
c)
Budget
d)
Liquidity
48.
Items of value that an individual or company owns are called...
a)
Items
b)
Assets
c)
Things
d)
Interest
49.
The amount of income left after taxes and other deductions are taken out.
a)
Gross Pay
b)
Surplus
c)
Deficit
d)
Net Pay
50.
Planning how to get the most from your money.
a)
Earning Power
b)
Interests
c)
Economics
d)
Money Management
51.
The price that is paid for use of another's money. Also, money gained from investments.
a)
Interest
b)
Income
c)
Expenses
d)
Annuity
52.

The money paid to an insurance company to purchase a policy

a)

Premium

b)

Policy

c)

Insurance

d)

Risk

e)

Deductible

53.

A financial product purchased by many people facing a similar risk to protect against the risk of larger losses

a)

Premium

b)

Policy

c)

Insurance

d)

Risk

e)

Deductible

54.

The chance of loss from an event that cannot be entirely

controlled

a)

Premium

b)

Policy

c)

Insurance

d)

Risk

e)

Deductible

55.

Which is the correct type of insurance that would be used: David’s mother is killed in an automobile accident. What type of insurance would provide his family financial support to cover the paid and unpaid work his mother performed?

a)

Property and liability

b)

Health

c)

Life

d)

Disability

e)

Workers’ compensation

56.

Which is the correct type of insurance that would be used: Joey’s father is in a car accident and cannot work. What type of insurance replaces his father’s earnings?

a)

Property and liability

b)

Health

c)

Life

d)

Disability

e)

Workers’ compensation

57.

Which is the correct type of insurance that would be used: Sally is not feeling well so her mother takes her to the doctor. The doctor tells her she has strep throat, gives her medication, and sends her home to recover. What type of insurance would be used in this case?

a)

Property and liability

b)

Health

c)

Life

d)

Disability

e)

Workers’ compensation

58.

Liability insurance covers accidental harm that may be caused to other people or property.

a)

True

b)

False

59.

A beneficiary is the individual who takes out the life insurance policy.

a)

True

b)

False

60.

The purpose of insurance is to make you financially better off than you were before the event occurred.

a)

True

b)

False

61.

An ________ is a check that exceeds the account balance.

a)

Overdraft

b)

Interest

c)

Budget

d)

Balanced checking

62.

A ______ is borrowed money repaid with interest.

a)

Cosigner

b)

Debit

c)

ATM transaction

d)

Loan

63.

The __________ is the total cost of the loan.

a)

Origination cost

b)

Principal

c)

Finance charge

d)

Interest

64.

____________ is the use of someone else's personal information for criminal purposes.

a)

Federal Trade Commission

b)

Cosigner

c)

Identity Theft

d)

Solicitation

65.

_________ means to decrease in value.

a)

Appreciate

b)

Depreciate

c)

Copreciate

d)

Debit

66.

A __________ is a number that summarizes your credit worthiness.

a)

Debit Score

b)

Debt ratio

c)

Checking account balance

d)

Credit Score

67.

A __________ is an amount paid by the insured before the insurance company pays.

a)

claim

b)

premium

c)

Deductible

d)

co-pay

68.

A _________ is an amount due when an insured receives health care.

a)

co-pay

b)

premium

c)

deductible

d)

claim

69.

____________ is based on your marital status or support of dependents.

a)

Filing status

b)

Taxable income

c)

Form 1040

d)

W-2

70.

___________ is the income subject to taxation after exemptions and deductions.

a)

W-2

b)

Filing status

c)

Form 1040

d)

Taxable income

71.

A person or organization who makes funds available to

borrow.

a)

Lender

b)

Credit History

c)

Credit Report

d)

Closed‐end Credit

72.

Routinely paying bills late will create

a)

Negative Credit

b)

Positive credit

73.

Maintaining a reasonable amount of unused credit will create

a)

Negative Credit

b)

Positive credit

74.

Numerous credit applications in a short period of time will create

a)

Negative Credit

b)

Positive credit

75.

Checking credit reports annually to search for mistakes will create

a)

Negative Credit

b)

Positive credit

76.

Having many of the same types of credit accounts will create

a)

Negative Credit

b)

Positive credit

77.

Which of the following is NOT on a credit report?

a)

Late medical payments

b)

Repayment history

c)

Buying habits

d)

Public Records

78.

A negative credit report may impact an individual’s ability to receive all of the following EXCEPT?

a)

Insurance

b)

Apartment

c)

Loan

d)

A traffic ticket

79.

How long will Inquiries remain on your credit report?

a)

Never on a credit report

b)

Two years

c)

Seven Years

d)

Ten years

80.

How long will Late or missed payments remain on your credit report?

a)

Never on a credit report

b)

Two years

c)

Seven Years

d)

Ten years

81.

How long will Closed accounts remain on your credit report?

a)

Never on a credit report

b)

Two years

c)

Seven Years

d)

Ten Years

82.

This insurance is required by law

a)

Renter's

b)

Life

c)

Auto

d)

Disability

83.

A legally enforceable declaration of how a person wishes his property to be distributed after death

a)

Will

b)

Life insurance

c)

Beneficiary

d)

Policy

84.
Arrangement with a bank or credit union letting you deposit and withdraw money.
a)
Account
b)
Account Statement
c)
Auto Insurance
d)
ATM (Automated Teller Machine)
85.
List of financial transactions you made over a given period.
a)
Account
b)
Account Statement
c)
Auto Insurance
d)
ATM (Automated Teller Machine)
86.
Protects against losses to property and injuries to people ina car accident.
a)
Account
b)
Account Statement
c)
Auto Insurance
d)
ATM (Automated Teller Machine)
87.
Plan used to decide the amount of money to spend, and how it will be spent.
a)
Bad Check
b)
Budget
c)
Check
d)
Check Register
88.
A term used to reference electric, water, gas, and other services.
a)
Utilities
b)
Renters Insurance
c)
Savings Account
d)
Transfer
89.
When money is moved from one account to another.
a)
Reconciliation
b)
Renters Insurance
c)
Savings Account
d)
Transfer
90.
Account for storing or saving money with limited withdrawals.
a)
Reconciliation
b)
Renters Insurance
c)
Savings Account
d)
Transfer
91.
Covers your personal property in a rented apartment or home.
a)
Reconciliation
b)
Renters Insurance
c)
Savings Account
d)
Transfer
92.
A way to balance your account records with your bank or credit union.
a)
Reconciliation
b)
Renters Insurance
c)
Savings Account
d)
Transfer
93.
A fee charged to your account when you spend more money than you have.
a)
Loan
b)
Net Pay
c)
Overdraft
d)
Overdraft Fee
94.
Credit extended from a financial institution when an account has insufficient funds.
a)
Loan
b)
Net Pay
c)
Overdraft
d)
Overdraft Fee
95.
The amount of a paycheck after taxes are subtracted from Gross Pay.
a)
Loan
b)
Net Pay
c)
Overdraft
d)
Overdraft Fee
96.
Money lent to someone else in exchange for future payment.
a)
Loan
b)
Net Pay
c)
Overdraft
d)
Overdraft Fee
97.
The percentage cost of borrowing from someone else.
a)
Jar
b)
Health Insurance
c)
Insurance
d)
Interest Rate
98.
Insurance that covers medical illness or injury.
a)
Jar
b)
Health Insurance
c)
Insurance
d)
Interest Rate
99.
The total amount of a paycheck before taxes.
a)
Debit Card
b)
Deposit
c)
Direct Deposit
d)
Gross Pay
100.
Money set aside for a specific purpose (like a budget item).
a)
Jar
b)
Health Insurance
c)
Insurance
d)
Interest Rate

Similar Resources on Wayground

Anesthesia Ventilator/Monitoring

100 questions

Anesthesia Ventilator/Monitoring

quiz

Worksheet

•

12th Grade - University

Final Quiz for FLO- Both Languages

100 questions

Final Quiz for FLO- Both Languages

quiz

Worksheet

•

12th Grade

100 Soal PPPK Pilihan Ganda

105 questions

100 Soal PPPK Pilihan Ganda

quiz

Worksheet

•

12th Grade

Mosby's Practice Test II

100 questions

Mosby's Practice Test II

quiz

Worksheet

•

12th Grade

MathWork

100 questions

MathWork

quiz

Worksheet

•

KG - University

Ag Sales Chapter Exam

100 questions

Ag Sales Chapter Exam

quiz

Worksheet

•

12th Grade

TO HK KKK XI/2

100 questions

TO HK KKK XI/2

quiz

Worksheet

•

9th - 12th Grade