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Personal Finance Vocab quiz

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

deduction

a)

money subtracted from a paycheck

b)

money you take home after deductions

c)

amount of money you actually earn

d)

a government insurance program that pays benefits to retired people

2.

net pay

a)

money you take home after deductions

b)

money subtracted from a paycheck

c)

amount of money you actually earn

d)

a rate of pay that is equal to time and a half

3.

gross pay

a)

money you take home after deductions

b)

money earned based on a contract, not an hourly wage

c)

amount of money you actually earn

d)

amount you pay for the use of borrowed money

4.

Social Security

a)

money you take home after deductions

b)

government retirement fund for older people

c)

government medical insurance for older people

d)

loss of or reduction in value over time

5.

Medicare

a)

the costs associated with owning and maintaining a vehicle

b)

government retirement fund for older people

c)

government medical insurance for older people

d)

loss of or reduction in value over time

6.

overtime

a)

the costs associated with owning and maintaining a vehicle

b)

work performed beyond required or normal hours

c)

money subtracted from a paycheck

d)

money earned based on a contract, not an hourly wage

7.

salary

a)

pay equal to time and a half

b)

work performed beyond required or normal hours

c)

money subtracted from a paycheck

d)

money earned based on a contract, not an hourly wage

8.

loan

a)

amount you pay for the use of borrowed money

b)

paying for a portion of the car's actual cost as opposed to having to pay for the car in its entirety

c)

money that is borrowed and is expected to be paid back with interest

d)

loss of or reduction in value over time

9.

interest

a)

amount you pay for the use of borrowed money

b)

paying for a portion of the car's actual cost as opposed to having to pay for the car in its entirety

c)

money that is borrowed and is expected to be paid back with interest

d)

loss of or reduction in value over time

10.

lease

a)

long-term "rental" of a car

b)

money you pay to initially make a large purchase

c)

legal connection of a car to its owner

d)

contract that helps pay for car damages from an accident

11.

insurance

a)

long-term "rental" of a car

b)

money you pay to initially make a large purchase

c)

legal connection of a car to its owner

d)

contract that helps pay for car damages from an accident

12.

depreciation

a)

long-term "rental" of a car

b)

money you pay to initially make a large purchase

c)

amount you pay for the use of borrowed money

d)

loss of or reduction in value over time

13.

down payment

a)

long-term "rental" of a car

b)

money you pay to initially make a large purchase

c)

amount you pay for the use of borrowed money

d)

loss of or reduction in value over time

14.

registration

a)

long-term "rental" of a car

b)

legal connection of a car to its owner

c)

amount you pay for the use of borrowed money

d)

loss of or reduction in value over time

15.

operating costs

a)

long-term "rental" of a car

b)

legal connection of a car to its owner

c)

the costs associated with owning and maintaining a vehicle

d)

loss of or reduction in value over time