wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Money Matters

Total questions: 114

Worksheet time: 58mins

Name
Class
Date
1.

Which of the following is considered to be a long-term financial goal?

a)

 

Buying a new car

b)

Saving for a retirement fund

c)

Saving for a family vacation

d)

Paying a specific amount on a credit card bill

2.

Which of the following is the last step in creating a personal financial plan?

a)

Implementing the budget

b)

Creating financial goals

c)

Balancing income and expenses

d)

Revising the plan

3.

An individual has total assets of $120,000 and total liabilities of $80,000. What is his net worth?

a)

$50,000

b)

$60,000

c)

$30,000

d)

$40,000

4.

Which of the following refers to personal belongings which have value?

a)

Net Worth

b)

Net profit

c)

Assets

d)

Liabilities

5.

Which type of people likes to plan for the future and are prepared for any type of financial situation?

a)

Security Seekers.

b)

Savers

c)

Spenders

d)

Risk Takers

6.

Which of the following is considered to be a short-term goal?

a)

Saving for a retirement fund

b)

  Starting a new career

 

c)

Saving for a college education

d)

Saving for a family vacation

7.

Which of the following refers to individuals who do not consider money as a necessity and do not have much of an opinion on money?

a)

Risk Takers.

b)

Security Seekers

c)

Spenders

d)

Flyers

8.

Which of the following is an itemized summary of the expected income and expenses for a defined period of time? 

a)

Budget

b)

Net worth

c)

Equity

d)

Balance sheet

9.

Which of the following correctly defines the “M” in the goal setting acronym SMART?

a)

Malleable

b)

Maintainable

c)

Measurable

d)

Manageable

10.

Which of the following is the sum of the individual’s current assets minus the individual’s total liabilities? 

a)

Liquid Assets

b)

Budget

c)

Net Worth

d)

Variable Expenses.

11.

What does “A” represent in SMART goal setting practices?

a)

Attainable

b)

Achieved

c)

Analyzed

d)

Adaptable

12.

Based on the 50/30/20 rule for allocating resources, which of the following percentages should be devoted to savings? 

a)

30

b)

0

c)

50

d)

20

13.

Which step of the financial planning process involves devising strategies to help accomplish financial goals?

a)

Reviewing the plan

b)

Identifying courses of action

c)

Determining financial situation

d)

Finalizing the plan

14.

Which of the following is NOT classified as a spending need?

a)

Electricity Bill

b)

Rent for a home

c)

Movie tickets

d)

Grocery bill

15.

Which of the following is an example of a personal asset?

a)

Credit Card balance

b)

Mortgage

c)

Rent

d)

Cash

16.

Which of the following is an example of a variable expense?

a)

  Car payment

 

b)

Rent

c)

All of the choices

d)

Entertainment

17.

Which of the following is an expense which stays relatively the same from month to month, such as a car payment or rent? 

a)

Estimated Expense

b)

Variable Expense

c)

Fixed Expense

d)

Equity Expense

18.

Which of the following are goals which can be achieved in less than a year of time? 

a)

Intermediate-term goals

b)

Life-time goal

c)

Long-term goals

d)

Short term goals

19.

Which type of bank offers full investment services as its main business? 

a)

Commercial banks

b)

Virtual banks

c)

Credit unions

d)

Brokerage firms

20.

Which website can help you reduce the amount of junk mail you receive? 

a)

Dmaconsumers.org

b)

Wecansolveit.org

c)

Junkmail.org

d)

Nomorecalls.org

21.

What are the two features of online and mobile banking? 

a)

 

Higher costs and security

b)

Convenience and security

c)

 

Closeness and shortened hours

d)

Convenience and higher costs

22.

If your identity is stolen, who becomes responsible for restoring your credit to good standing? 

a)

you

b)

you

c)

you

d)

you

23.

Which of the following types of goals best describes something you can achieve in more than 12 months, but less than five years? 

a)

Future Goals

b)

Short term goals

c)

Long term goals

d)

Intermediate goals

24.

Which of the following is NOT a way to earn income?

a)

Doing chores for your neighbor

b)

none of the choices

c)

Volunteering at a local shelter

d)

Part-time or full-time job

25.

You should keep all deposit receipts as well as receipts for purchases until which of the following happens? 

a)

Budget process

b)

Opening balance process

c)

Tax time

d)

Reconciliation process

26.

Why do stores intentionally put small and inexpensive items near the checkout lines?

a)

So shoppers will not get bored standing in line

b)

To allow less clutter in the aisles

c)

To allow more room in other areas of the store

d)

So shoppers will buy them without much thought

27.

Fees for services are determined by which of the following?

a)

Each branch of a bank

b)

ATMs

c)

Each transaction

d)

 

Each customer

28.

The primary purpose of a spending plan is to achieve which of the following goals? 

a)

To help you see the amount of income you have each month, pay all of your expenses, and put money into savings

b)

To remind yourself you will never get ahead when things become difficult

 

c)

To give to the bank to keep on file so you can have a checking account with them

d)

Create a document you can send to your credit card company when you want to increase your spending limit

 

29.

Which of the following is NOT a security feature? 

a)

Login security questions

b)

Data encryption

c)

Firewall

d)

Use of birthdates as your PIN

30.

Which of the following types of goals best describes something you can achieve in more than five years? 

a)

Future goals

b)

Short term goals

c)

Long term goals

d)

Intermediate goals

31.

Which piece of information will you most likely NOT have receipts for when reconciling your bank statement manually? 

a)

  Withdrawals made online

 

 

b)

Deposits made at the drive-up teller windows

c)

Interest earned on an account

d)

Deposits made through the mail

32.

Why is it a good idea to treat your savings account as a fixed expense each month? 

a)

Loans can be paid off faster instead of spending the money.

b)

More income is earned by accruing more interest.

c)

Money can be deposited before it is used for discretionary spending.

d)

It is another source of income.

33.

Which type of bank has customers who are also owners? 

a)

Virtual banks

b)

  Credit unions

c)

Brokerage firms

d)

Commercial banks

34.

Which type of bank does not have an actual physical location? 

  Credit unions

  Commercial banks

  Virtual banks

  Brokerage firms

a)

  Virtual banks

 

b)

Commercial banks

c)

Credit unions

d)

Brokerage firms

35.

A rent payment is an example of which type of expense? 

  Secure

  Fixed

  Discretionary

  Variable

a)

Variable

b)

Secure

c)

Fixed

d)

Fixed

36.

Which of the following is NOT one of the main components of a bank statement? 

  Listing of withdrawals made during the previous one month

  The opening balance

  The closing or ending balance

  Listing of deposits made during the previous three months

a)

Listing of deposits made during the previous three months

b)

The opening balance

c)

  Listing of withdrawals made during the previous one month

d)

  The closing or ending balance

37.

In which of the following choices are the expenses in the right order according to how they must be paid each month?

a)

Pay the fixed expenses, then pay the variable and discretionary expenses

 

b)

Pay the discretionary expenses, then pay the fixed or variable expenses

 

c)

Pay the fixed and variable expenses, then pay the discretionary expenses

d)

Pay the fixed or discretionary expenses, then pay the variable expenses

38.

Donating to the local animal shelter is an example of which of the following types of expenses?

a)

Secure

b)

Discretionary

c)

Variable

d)

Fixed

39.

PIN is an acronym that stands for which of the following? 

  Personal Identification Number

  Personal Internet Number

  Personal Identification Navigational System

  Private Identification Number

a)

Private Identification Number

b)

  Personal Identification Navigational System

c)

Personal Identification Number

d)

Personal Internet Number

40.

Which of the following is the first step you should take if your identity is stolen?

a)

Contact the police to file a report

b)

Contact the bank and credit card companies where you hold accounts

c)

Contact the fraud departments at all three major credit agencies

d)

  Contact your parents

41.

The location of which of the following is important when considering a bank? 

a)

Bank employees’ homes

b)

  ATMs

c)

Vault

d)

Headquarters

42.

How is it best to get rid of information you receive in the mail? 

a)

Mark out all personal information with a marker

b)

Tear the mail in half and place each half in a different trash bag

c)

Just throw it way, thieves don't dig through trash

d)

Use a shredder before placing it in the trash

43.

Standard banking hours used to be 9 a.m. to 3 p.m., Monday through Friday. These hours meant what for their customers?

 

a)

Access to their money was limited to these hours.

b)

It was convenient to get cash whenever it was needed.

c)

Security wasn’t as important as it is now.

d)

Bankers work hard for their customers.

44.

What is the purpose of providing a bank statement to a customer? 

 

  To make sure the customer has not withdrawn money from an account which isn’t his/hers

a)

To make sure the customer has not withdrawn money from an account which isn’t his/hers

b)

To provide a snapshot of activity on the account during a specific time period

c)

To help a customer see his/her budget

d)

To provide tax information throughout the year

45.

Which type of bank is most widely used? 

a)

Brokerage firms

b)

Virtual banks

c)

  Credit unions

d)

Commercial banks

46.

The opening balance of your most recent statement should equal which of the following? 

a)

  Closing balance of your next statement

b)

Closing balance of your last statement

c)

  No balance should equal the opening balance

d)

  Opening balance of your next statement

47.

Which of the following types of goals best describes something you can achieve in less than 12 months? 

a)

Long-term goals

b)

Short-term goals

 

c)

Future goals

d)

Intermediate goals

48.

A monthly utility bill is an example of which of the following expenses? 

a)

Variable

b)

Discretionary

 

c)

Fixed

d)

Secure

49.

Which of the following is NOT one of the advantages of online and mobile banking?

 

 

a)

Manual bank reconciliation is still required.

b)

It interacts with financial software.

c)

Access to account information is available 24/7.

d)

  It provides the ability to pay bills online or via your mobile device.

50.

The conversion of a message into code is known as which of the following? 

  Firewall

  Encryption

  Reconciliation

  Itemization

a)

  Reconciliation

b)

  Encryption

c)

  Itemization

d)

Firewall

51.

Where is a more popular place a thief would go to try to steal your personal information?

a)

Your sock drawer

b)

Your trash

c)

Your bank

d)

Grocery store

52.

Why is the closing date listed at the top of your statement important information? 

a)

It lets you know if you have closed the account.

b)

It is provided so the bank will know what date the statement was mailed.

c)

It provides a way to organize your files.

d)

It provides you with a cutoff date for transactions included in the statement.

53.

Which of the following should NOT be considered when choosing a bank? 

a)

Fees you will be charged for the services you use

b)

The location of the bank in relation to where you live and work

c)

The type of services offered

d)

The size of the bank

54.

Which of the following entities do NOT have access to your credit report? 

a)

 

Banks who are considering loaning you money

b)

  Credit card companies who are considering giving you an account

c)

Potential landlords who may rent you an apartment or house

d)

Potential employers who are looking for new employees with good credit

55.

You have three short-term goals for the end of the school year which include: going to the lake with your friends, which will cost $200; putting a deposit on an apartment, which will cost $350; and putting a down payment on a motorcycle for $150. How should you achieve these goals? 

a)

Save money each month for the next year.

b)

Use your college fund for your goals

c)

Ask your parents for help

d)

Use your emergency fund for your goals

56.

Which of the following is the first step in developing your goals? 

a)

  Prioritize your personal goals

b)

Identify your personal goals

c)

Determine your personality

d)

Develop a plan of action to achieve your personal goals

57.

Which records can NOT give a thief access to your personal information? 

a)

Mother’s maiden name

b)

Social Security number

c)

  Date of birth

d)

Gift card to a department store

58.

Which of the following is a type of savings account which usually earns a higher amount of interest than a basic savings account?

a)

Certificate of deposit

b)

Checking account

c)

  Money market account

d)

Debit card

59.

Which of the following is NOT considered a deposit?

a)

Purchases

b)

Check cashed

c)

  Direct deposit

d)

  Transfers received

60.

Reconciling a bank statement involves comparing all the deposits, checks, and electronic transactions recorded on the bank statement with the ____________.

a)

financial statements

b)

check register

c)

deposit slips

d)

  balance sheet

61.

The most secure endorsement is the _______________ endorsement.

a)

interbank

b)

  blank

c)

restrictive

d)

interbank

  special

62.

Which of the following is NOT a step in reconciling a bank statement?

a)

Calling a banker to discuss deposits and withdrawals

b)

Matching each of the deposits in the records to those noted on the bank statement

c)

  Matching all checks listed in the bank statement to the check register

d)

Going through the miscellaneous account debits and credits listed on the bank

  statement

63.

Which of the following financial documents is recommended to be stored at least three to seven years?

a)

  utility bills

b)

  passport

c)

Supporting tax documentation

d)

mortgage contract

64.

A restrictive endorsement typically uses the terms "___________________" on the first line of the endorsement.

  Pay to the Order of

a)

  Pay to the Order of

b)

  Transfer to

c)

none of the choices

d)

For Deposit Only

65.

Which of the following is a deposit account held at a financial institution which allows withdrawals and deposits?

a)

money market account

b)

  checking account

 

c)

  certificate of deposit

d)

savings account

66.

Which of the following is NOT an example of intangible assets?

 

a)

  Trademark

b)

Patent

c)

  Copyright

d)

Bonds

67.

Which of the following describes a person’s financial debt or obligation?

a)

Liabilities

b)

Assets

c)

  Investments

d)

Profits

68.

A checkmark, x, or other marking on the register in the small box on the same line as the entry means that entry has _______________-.

a)

  been flagged as an error

b)

  been flagged as an outstanding transaction

c)

  been paid or added to the account

d)

none of the choices

69.

An endorsement of a check using only the payee's name is called a _________ endorsement.

  i

a)

blank

b)

special

c)

interbank

d)

  restrictive

70.

Which of the following is NOT considered a withdrawal?

a)

transfers sent

b)

checks cashed

c)

purchases

d)

ATM withdrawals.

71.

Which of the following financial documents is recommended to store permanently?

a)

Mortgage contracts

b)

  Utility bills

c)

Bank statements

d)

  Annual retirement statements

72.

The first amount entered  on the bank reconciliation form is ______________.

a)

  bank's ending balance

b)

  checkbook's beginning balance

c)

 

bank's beginning balance

d)

  total of all deposits

73.

Checks should always be written using ______________.

a)

  blue or black ink

b)

cheerful colors

c)

pencil

d)

permanent markers

74.

It's important to write checks carefully, capitalizing all proper names because they  _____________.

a)

make you look smarter.

b)

  all of the choices

c)

the government will nullify checks that are not

d)

  are legal documents

75.

Which of the following should NOT be included when interpreting a bank statement? 

a)

  account summary

b)

Information from a different account

c)

account activities

d)

  statement date

76.

Which of the following is an example of a fixed asset?

a)

Stocks

b)

Cash

c)

  Patent

d)

House

77.

A personal financial statement is also called which of the following?

a)

Personal liabilities sheet

b)

  Personal balance sheet

c)

Personal income statement

d)

  Personal retirement plan

78.

If you need to dispose of any financial records, it's best if you _________ to keep personal data safe.

a)

all of the choices.

b)

  shred

c)

dispose of in the trash

d)

keep locked in a safe

79.

Mortgage contracts should be stored ________________,

a)

for five years.

b)

for one year

c)

until you move

d)

permanently

80.

Which of the following financial documents is recommended to store for just one month?

a)

Receipts for major purchases

b)

  Tax returns

c)

Deposit records

d)

  Investment statements

81.

Which of the following is an interest-bearing deposit account held at a bank which provides a modest interest rate?

a)

Savings account

b)

  Checking account

c)

  Money market account

d)

  Certificate of deposit

82.

Which of the following bank accounts does NOT provide money access during the term length?

a)

money market account

b)

certificate of deposit

c)

checking account

d)

  savings account

83.

A net worth statement is also called which of the following?

a)

Personal estate list

b)

Personal liabilities sheet

c)

Personal assets list

d)

Personal financial statement

84.

If an individual has total assets of $100,000 and total liabilities of $70,000, what is this person's net worth?

a)

$70,000

b)

  $170,000

c)

  $30,000

d)

  $100,000

85.

Which of the following is NOT a true statement about reconciling a bank statement?

  it involved matching up records with the information on the bank statement

 

a)

  it involved matching up records with the information on the bank statement

b)

it is not necessary to ensure the balance is correct

c)

  it can help with understanding spending pattern

d)

it can help catch any mistakes or even fraud

86.

Which of the following is NOT usually included in a bank statement?

 

a)

Deposits

b)

Fees

c)

Social Security number

d)

  Withdrawals

87.

The ending balance on the reconciliation form must match the _______________ to be considered accurate.

  beginning balance in register

 

a)

beginning balance in register

b)

none of the choices.

c)

ending balance on statement

d)

ending balance in register

88.

If a transaction appears on the statement but not in the register you must ___________. 

a)

ignore it

b)

none of the choices

c)

call the bank to find out why

d)

add it to the register

89.

Deposit slips are located in the back of the checkbook after the checks.

a)

True

b)

False

90.

Deposit slips require that you write the total amount of the checks from the back on the front if you have multiple checks.

a)

True

b)

False

91.

When writing a check, the amount must also be written in words and dollars and cents written fractionally separated by the word 'and'.

a)

True

b)

False

92.

SC indicates a service charge that was charged by the bank and must be entered into the check register to balance on the reconciliation.

a)

True

b)

False

93.

It's important to record the name of the payee in the description section.

a)

True

b)

False

94.

A check is valid without a signature.

a)

True

b)

False

95.

A check is valid without a signature.

a)

True

b)

False

96.

Cash back may only be received if the deposit is made with a teller and must include a signature of the depositor. The deposit must include the original amount of the check being deposited.

a)

True

b)

False

97.

Multiple checks can be added together and entered as one entry on the deposit slip.

a)

True

b)

False

98.

The number section of the check register records only the number of a check if written.

a)

True

b)

False

99.

'Pay to the Order of' indicates the bank account owner.

a)

True

b)

False

100.

An endorsement that allows the check to be transferred to a second party if the receiver signs the back of the check and writes 'pay to the order of (insert person's name transferring check to)' is a _____________ endorsement.

a)

restrictive

b)

special

c)

blank

d)

none of the choices

101.

People using checking accounts because

a)

all of the choices

b)

they are safe

c)

  they are convenient

d)

  they track expenses to help planning

102.

Only deposits and checks are recorded on a check registe

a)

true

b)

false

103.

Each check being deposited must be listed individually.

a)

True

b)

false

104.

The 'payee' is the writer of the check.

a)

true

b)

false

105.

An endorsement where anyone can cash or deposit the check after the check has been signed by the receiver of the check is a _____________ endorsement.

a)

restrictive

b)

blank

c)

special

d)

none of the choices.

106.

It's important to write checks properly because

a)

  it shows intelligence

b)

all of the choices.

c)

it's required by law

d)

they are a legal document

107.

The net deposit is the amount being deposited before any cash received is deducted.

a)

True

b)

False

108.

On a check register, you should leave the date blank and enter only after it has cleared the bank.

a)

true

b)

false

109.

The first set of numbers preprinted on a check is the bank's routing number identifying the financial institution while the second set is your account number.

a)

true

b)

false

110.

Deposit slips include the bank president's name on each slip.

a)

true

b)

false

111.

Deposits recorded on a register are also known as credits.

a)

true

b)

false

112.

A blank line at the bottom left of a check is used as a reminder of the check's purpose.

a)

true

b)

false

113.

The amount of the check written numerically must be identical to the amount of the check written in words fractionally.

a)

true

b)

false

114.

Both checks and deposit slips have the bank's printed routing numbers to identify the specific bank.

a)

true

b)

false

Similar Resources on Wayground

untitled

111 questions

untitled

quiz

Worksheet

•

9th Grade - University

ĐGGD

110 questions

ĐGGD

quiz

Worksheet

•

11th Grade

class 8

110 questions

class 8

quiz

Worksheet

•

8th Grade