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Worksheets

personal finance

Total questions: 85

Worksheet time: 1hrs 25mins

Name
Class
Date
1.

saving to replace your printer will mean considering the time and money required to reach your goal

a)

true

b)

false

2.

being late for a job interview is one of the worst mistakes an applicant can make

a)

true

b)

false

3.

when you're new on the job, you should pay special attention to your appearance to make a good impression

a)

true

b)

false

4.

every business is required by law to make formal, written rules and regulations available to all employees called a handbook

a)

true

b)

false

5.

once you've received your first promotion in your chosen career, you will not need to pursue further education.

a)

true

b)

false

6.

you can use a spending log to figure out how much you spend in various categories

a)

true

b)

false

7.

the first step in meeting your financial goals is to identify them

a)

true

b)

false

8.

one of the benefits of volunteering is that you can put the experience on your resume

a)

true

b)

false

9.

linking goals to values help motivate people to achieve their goals

a)

true

b)

false

10.

include expected or estimated income and known or estimated expenses when creating an ongoing goal chart

a)

true

b)

false

11.

tangible items that can be touched, used, and purchased are:

a)

services

b)

goods

c)

wants

d)

needs

12.

which of the following is an example of a human resource?

a)

knowledge

b)

time

c)

money

d)

possessions

13.

trying to save money to buy a house while you are working only 10 hours a week would not be practical

a)

true

b)

false

14.

when you are setting up your budget, you should include the money you earned selling your dog's litter of puppies

a)

true

b)

false

15.

one primary difference between commercial banks and credit unions is that commercial banks operate to make a profit

a)

true

b)

false

16.

using a credit card is just like writing a check in that it withdraws money from your checking account

a)

true - credit card

b)

false - debit card

17.

ethical behavior calls for honesty. which of the following actions could be considered ethical

a)

borrowing a classmate's homework to copy the answers

b)

studying for a test with a friend

c)

checking personal emails at work

d)

returning a homecoming dress to the store after wearing it to the dance

18.

having a bank account is more cost-effective than using a check cashing company

a)

true

b)

false

19.

one way teens can begin taking responsibility for their finances is to open a low-activity checking account with a parent or guardian

a)

true

b)

false

20.

if you have $1,000 you should deposit it in a checking account because it pays more interest than a savings accounts

a)

true

b)

false - savings

21.

a dividend is an investment in the ownership of a corporation

a)

true

b)

false

22.

______ gives you access to a vast diversity of goods and services through worldwide markets.

a)

social media

b)

globalization

c)

technology

d)

offshore outsourcing

23.

always discard old bank statements that you no longer need

a)

true

b)

false

24.

_____ is used to determine eligibility for federal financial aid

a)

The Pell Grant

b)

The Free Application for Federal Student Aid (FAFSA)

c)

A 529 Plan

d)

A work-study

25.

an example of aptitude is:

a)

perfection

b)

thinking logically

c)

collecting

d)

drawing

26.

which of the following best represents a measurable goal?

a)

I want to have a masters degree

b)

I want to be successful

c)

I want to have a career

d)

I want to be a professional

27.

______ is the elimination of jobs generally because the economy is suffering.

a)

downsizing

b)

outsourcing

c)

onshoring

d)

ofshoring

28.

which of the following is a graduate degree?

a)

high school diploma

b)

associate degree

c)

bachelor degree

d)

masters degree

29.

which of the following is a postgraduate degree

a)

associate degree

b)

bachelor degree

c)

masters degree

d)

doctorate

30.

a check is written order for the bank to pay a specific amount to the person or business to whom it is written

a)

true

b)

false

31.

which of the following will most likely require continuing education classes?

a)

biology degree

b)

english degree

c)

teaching license

d)

mathematics degree

32.

which employment form is used to verify an employee's identity and that he or she is authorized to work in the United States

a)

Form W-4

b)

Form I-9

c)

Form W-2

d)

Form 1040

33.

which of the following is considered a Variable Expense

a)

mortgage

b)

groceries

c)

car payment

d)

rental insurance

34.

what is the act of giving away money, good, services, or time to support a cause?

a)

menotoring

b)

entrepreneauship

c)

philanthropy

d)

none of the above

35.

which section of a resume typically the main focus of an employer's attention?

a)

career objectives

b)

references

c)

eduaction

d)

work experience

36.

interest paid to you on an investment that is based solely on your initial deposit

a)

dividend

b)

compound interest

c)

cash interest

d)

simple interest

37.

which employment form is used when filing income tax return?

a)

form W-4

b)

form I-9

c)

form W-2

d)

Form 1040

38.

which of the following best describes a budget

a)

a record of a person's cashflow

b)

a record of total yearly income

c)

a spending and savings plan based on a person's income and expenses

d)

none of the above

39.

which question is legal for an interviewer to ask?

a)

are you married?

b)

do you have any disabilities?

c)

what religion do you practice?

d)

how would you handle a disagreement with a coworker?

40.

of the following, which action should a person take after every checking account transaction?

a)

no need to do anything

b)

check transaction history online

c)

save the reciept

d)

record the transaction in the checkbook registry

41.

which employment form is used for the information needed to withhold the appropriate amount of taxes from an employee's paycheck?

a)

form W-4

b)

form I-9

c)

form W-2

d)

form 1040

42.

a salary is a fixed payment for work and is expressed as an annual figure

a)

true

b)

false

43.

a commission, also known as gratuity, is money paid for service beyond what is required

a)

true

b)

false

44.

which of the following is a fixed expense

a)

credit card bill

b)

car maintenance

c)

rent

d)

entertainment

45.

a wage is payment for work, calculated on an hourly, daily or piecework basis

a)

true

b)

false

46.

most salaried employees are entitled to overtime pay

a)

true

b)

false

47.

the first step in controlling high debt levels is to....

a)

discuss bankruptcy options with an attorney

b)

work out a plan with your creditors to make smaller payments

c)

create a debt management plan with a credit counselor

d)

borrow money from your family

48.

total income before payroll tax deductions is called:

a)

adjusted income

b)

net income

c)

gross income

d)

answer 4

49.

one warning sign that you are not using credit wisely is that...

a)

you have two credit cards

b)

creditors are calling you

c)

your credit card company has increased your credit limit

d)

you are well below your credit limit

50.

according to the law, all employees must fill out a W-4 form

a)

true

b)

false

51.

which of the following is an example of a voluntary deduction from your paycheck?

a)

dental insurance

b)

medicare insurance

c)

social security

d)

state tax

52.

it is important to pay all of your creditors on time every month because the largest percentage of your credit score represents..

a)

the type of loans and debts you have

b)

the total amount of your current debt

c)

the most recent credit you have been given

d)

your overall payment history

53.

at which rate is Medicare taxed on in your paycheck

a)

2.9%

b)

6.2%

c)

1.45%

d)

none of the above

54.

at which rate is social security taxed in your paycheck

a)

1.45%

b)

2.9%

c)

5.45%

d)

6.2%

55.

how long after an interview should a "thank you" letter be sent

a)

no need to send a "thank you" letter if you do not get the job

b)

one week

c)

two days

d)

immediately

56.

what action should you take first if you see your "debt" is mounting

a)

consolidate your loans

b)

file bankruptcy

c)

stop using your credit cards

d)

get a credit card cash advance

57.

sam earned $100.00 in his paycheck. his payroll deductions were $10.00. His net pay is:

a)

$100.00

b)

$110.00

c)

$90.00

d)

none of the above

58.

which of the following would be considered Business Professional attire?

a)

jeans & a t-shirt

b)

khaki pants and a polo shirt

c)

dark colored suit

d)

none of the above

59.

if Ava makes $10.00 per hour and works 42 hours her gross pay is:

a)

$420.00

b)

$400.00

c)

$430.00

d)

$415.00

60.

which of the following could not be used to make a purchase on "credit"?

a)

a Visa card issued by your bank

b)

a Debt card issued by your bank

c)

a "Gap" card

d)

a "Macy's" card

61.

an employees withholding Allowances certificate is known as an:

a)

W-5

b)

W-4

c)

W-9

d)

I-4

62.

Which of the following can you do to prevent credit fraud

a)

protect your personal & financial information

b)

check your credit report annualy

c)

notify creditors if your credit cards are stolen

d)

all of the above

63.

which of the following is not an example of an employee benefit

a)

health insurance

b)

dental insurance

c)

retirement plan

d)

bonus pay

64.

which of the following is not a reason for your credit card interest rate to go up

a)

you have never missed a payment on any credit account

b)

your debt level is too high

c)

you have exceeded your credit limit on another account

d)

your credit score went down

65.

when the government spends more money than it collects in taxes, a deficit occurs increasing the national debt

a)

true

b)

false

66.

which of the following is not an advantage of using credit

a)

being able to purchase an item on sale even though you do not have the cash

b)

the opportunity cost of paying interest on interest

c)

being able to replace your broken garage door opener

d)

keeping track of how much you spent on your vacation

67.

if you only have $200.00 remaining in your bank account, what would be the smartest choice to do with the money?

a)

go to the movies

b)

rent a movie

c)

go dancing

d)

none of the above

68.

a main category for federal discretionary spending is:

a)

medicare and health

b)

veteran's benefits

c)

national defense

d)

all of the above

69.

sales tax revenue is levied by the federal government

a)

true

b)

false

70.

you can avoid spending beyond your means by

a)

leaving your credit cards at home when going shopping

b)

buying things because they are on sale

c)

promising yourself that you will not give into your impulse this time

d)

all of the above

71.

overtime is calculated as....

a)

2.5 times your daily rate

b)

2.5 times your hourly rate

c)

1.5 times your hourly rate

d)

1.5 times your daily rate

72.

at what age do workers become eligible for full retirement benefits from social security

a)

55

b)

59 1/2

c)

65

d)

67

73.

how early should someone arrive for an job interview

a)

30 minutes

b)

45 minutes

c)

15 minutes

d)

25 minutes

74.

when is the only time you will need to give your social security number to an employer

a)

after they offer you the job

b)

it should be on your resume

c)

when filling out the application

d)

all of the above

75.

what are the two purposes of a cover message's conclusion

a)

request an interview and reiterate your qualifications

b)

schedule an interview and state your alternate availability

c)

request an interview and make it easy for the reader to grant an interview

d)

reiterate your qualifications an state your availability for an interview

76.

saving to purchase something you want is wiser than charging it on a credit card because...

a)

you may buy something on impulse that you really don't need

b)

they money you save will earn interest

c)

you will not have to pay interest

d)

all of the above

77.

which type of tax has the effect of imposing a higher tax rate on those with lower incomes

a)

progressive

b)

regressive

c)

direct

d)

indirect

78.

which of the following cannot be done by online banking

a)

check your balance

b)

pay bills

c)

transfer money

d)

cash a check

79.

which type of bank is commonly known as a full-service bank

a)

savings and loan association

b)

internet bank

c)

mutual savings bank

d)

commercial bank

80.

customer deposits in a federally insured bank are insured up to what amount

a)

$100,000

b)

$200,000

c)

$250,000

d)

$500,000

81.

how can you avoid an insufficient funds fee if you realize you wrote a check for more than the amount you have in your account

a)

transfer money from your savings account

b)

void the check

c)

transfer money to your savings account

d)

use online bill paying

82.

if you mistakenly write a check for $25.00 more than what you owe on a credit card bill, it would make the most financial sense to...

a)

have your bank issue a stop-payment order

b)

have your bank void the check

c)

make sure you receive a $25.00 credit to your next bill

d)

make another purchase worth $25.00 with your credit card

83.

when you withdraw cash from an ATM owned by your bank

a)

the transaction goes through the ACH

b)

your account balance is immediately lowered by the amount you withdrew

c)

you have 24 hours before the transaction clears

d)

you have 72 hours before the transaction clears

84.

which of the following is an example interest

a)

the fee charged by a check cashing company

b)

the money exchanged in a funds transfer

c)

the money a bank earns for lending money to borrowers

d)

the fee a bank charges for an overdraft

85.

which of the following shares profits with its customers

a)

savings and loans associates

b)

credit unions

c)

large national bank

d)

independently owned local banks