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WorksheetsFoundations in Personal Finance Pre-Test/Post-Test
Total questions: 20
Worksheet time: 7mins
A liability can be described as
Something you own that has value
Something you owe; a debt
Something that goes down in value over time
Money that you have in a savings account
Which of the following allows invested money to grow over time?
Compound interest
Premium payments
Taxes
Inflation
A plan for spending is called a(n)
Checking account
Economy
Scarcity
Budget
A fee that a bank, credit card company, or other lender charges for the opportunity to
purchase something and pay for it over time.
Interest
Dividend
Credit
Finance rate
The FICO score measures all of the following, except
Debt history
Savings account balance
Types of debt
New debt
Non-wage compensation provided by your employer is known as
Withholding
Employee benefits
Take-home pay
Income
The amount of money you get paid after taxes are taken out is called
Take-home pay
Withholding
Benefit pay
Gross income
Money taken out of your paycheck for taxes is called
Employee benefits
Take-home pay
Withholding
Net pay
Represent small pieces of ownership in a company
Stocks
Bonds
Mutual funds
Certificates of deposit
In which of the following should you keep your emergency fund
Stocks
Money market account
Mutual funds
Certificates of deposit
The money you pay for an insurance policy is called your
Dividend
Coverage
Premium
Co-pay
Which of the following types of insurance would cover your costs associated with a
car accident
Auto
Health
Disability
Long-term care
An economic system based on the private ownership of business and the products
made and sold is called a
Market economy
Command economy
Traditional economy
Mixed economy
An economic system in which the government owns, controls, and regulates all aspects
of production, trade, and income generated by the most valuable resources is called a
Market economy
Command economy
Traditional economy
Mixed economy
A market economy is driven by the economic principle of
The stock market
Supply and demand
Centralized control
Regulation
The monetary value of all goods and services produced in a country in a year is called
Gross domestic product
Currency
Supply and demand
Industry product
The interaction between the various countries of the world is called
Friendship
Economics
Globalization
Business
Which of the following is an example of an economic incentive?
Debit card purchase
Inflation
Online sales or discounts
Buying something for a friend
Everything a company does to get consumers to buy their product is called
Brand loyalty
Marketing
Customer loyalty
Impulse purchase
A person who buys things is called a
Worker
Entrepreneur
Consumer
Merchant
