WorksheetsBudgeting Final
Total questions: 16
Worksheet time: 4hrs 0mins
How do wages and salary differ?
Wages describe what you earn on an annual basis
Salary describes what you earn on an annual basis
Wages mean you have a standard amount in each paycheck
Salaried employees are likely to be paid for overtime
Which of the following are TRUE about gross income and net income? (hint: choose 2 correct answers)
Gross income and net income are the same
Net income is sometimes called "take home pay"
Gross income is the total amount earned before deductions
Net income is the total amount earned before deductions
It's common to have all of the following expenses BEFORE signing a lease ...(hint: pick 3 correct answers.)
Renter's Insurance
Application fee
Application deposit
Apartment hunting expenses
Which of the following would typically be covered under renter's insurance?(Hint: pick 3 correct answers)
A friend slips and twists his ankle in your living room
Your apartment is broken into and your laptop is stolen
A fire destroys 80% of your belongings
Your apartment is flooded, destroying your furniture
Which of the following is a step you can take to mitigate the risk of buying a used car? (hint: choose 2 correct answers)
Get a vehicle history report
Have a mechanic inspect the car after you buy it
Skip the test drive; you have time after you buy it to drive
Buy a certified, pre-owned car from the dealer
Which of the following are typical costs of owning a car? (Hint: pick 3 correct answers)
License and Registration fees
Gasoline
Utilities
Insurance
Jenna wants to decrease the amount of $ she spends on food. Which of the following would help? (hint: choose 2 correct answers)
Decide what she will make for dinner that same day
Go to the grocery store with a list
Go to the store whenever she needs 1-2 items
Keep staple foods (e.g. beans, rice) readily stocked
An 18oz box of cereal costs $3.99. How would you calculate the unit price?
18oz / $3.99
9 oz / $2.00
$3.99 / 18oz
(18oz) x ($3.99)
6 cans of tomato soup cost $5.99. What is the unit price?
About $3.00
About $1.00
About $5.99
About $2.00
Jabar broke his leg while riding his bike. How does having health insurance help him?
Jabar will likely have to pay $0 towards his medical costs
Jabar will likely have to cover 100% of his medical costs
Jabar will likely owe a portion of his medical costs
Having health insurance makes no difference
What is a deductible?
The cost you and your insurance share
The amount your insurance pays before you pay
The discount you get on your health insurance every year
The amount you pay before your insurance begins to pay
How can consolidating your student loans help your budget? (hint: choose 2 correct answers)
You'll pay more in interest over time
You can manage your money more easily since you're making just one payment
Your monthly payment may decrease
Your interest rate is guaranteed to decrease
How does the 50/30/20 rule of thumb for budgeting allocate your income?
50% Needs, 30% Wants, 20% Savings & Debt Repayment
50% Wants, 30% Needs, 20% Savings & Debt Repayment
50% Savings & Debt Repayment, 30% Wants, 20% Needs
50% Needs, 30% Savings & Debt Repayment, 20% Wants
Which of the following is an example of buying something you NEED?
"I want to replace something that is no longer working."
"I want to impress someone/ change how they feel about me."
"I'm feeling down, and I need to boost my spirits."
"I don't want to miss out on these deals during the sale!"
According to the 50-20-30 rule what is a general rule of thumb on how much you should save?
5% of your income
10% of your income
20% of your income
30% of your income
Free Point! (This is worth 5 bonus points if you only choose the correct answer.)
Pick this answer
Seriously, pick that answer
Don't pick this answer
Im Ernst, ich verstehe die Abfrage nicht.
