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Worksheets

Banzai Post Test Review

Total questions: 25

Worksheet time: 13mins

Name
Class
Date
1.

The best way to create a budget is to ___ your income into categories and plan how much you’ll spend on each.

a)

multiply

b)

divide

c)

add

d)

subtract

2.

A debit card lets you pay with the money in your ___ account.

a)

starter

b)

mutual fund

c)

checking

d)

saving

3.

If you don’t pay your credit card balance off in full each month,

you’ll be charged ___.

a)

interest

b)

full amount

c)

transaction

d)

cents on the dollar

4.

Someone broke into your apartment and stole all of your stuff.

Luckily, you have renter’s insurance.

You request that your insurance pay for the lost items by filing a ___.

a)

promissory note

b)

plan

c)

repayment

d)

claim

5.

A ___is the document that comes with your paycheck and shows you what you were paid and how much was taken for taxes.

a)

paystub

b)

paypal

c)

payfile

d)

payment

6.

When moving to a new rental, you’ll likely need to pay a security deposit.

This is often the first and last month’s ___.

a)

insurance

b)

power bill

c)

mortgage

d)

rent

7.

You got $200 from your grandma for your birthday. The first thing you should do is record it as ___ in your budget.

a)

outcome

b)

income

c)

deposit

d)

withdrawal

8.

A ___ is the name of the document that tells you what you need to pay on your credit card.

a)

statement

b)

answer

c)

options

d)

document

9.

If you go into debt, you’ll need to pay back a minimum amount every month;

you’ll likely pay more than you borrowed due to interest;

and your net worth will be ___ affected.

a)

payments

b)

interest

c)

negatively

d)

positively

10.

You charged $500 to your credit card to buy a new TV and paid it off after 6 months. With interest, you paid back a total of $600. $500 is called the ___ in this situation, and you paid $100 in interest.

a)

interest

b)

deductible

c)

payments

d)

principal

11.

If you decide to rent a place to live, you’ll need to sign a ___.

a)

lease

b)

buy

c)

own

d)

borrow

12.

If you pay off only the amount owed on your credit card each month, but don’t pay it off completely, it’s called making your ___ payment.

a)

total

b)

basic

c)

maximum

d)

minimum

13.

our account statement arrived. You had a balance of -$52.79. After the $307.74 deposit from Roland’s Bookstore, your new account balance is ___.

a)

$254.95

b)

$0.50

c)

$3.75

d)

$987.23

14.

On Jan. 8th, your account was charged $30.00 for an overdraft fee. This happened because you spent ___ than what was in your account.

a)

same

b)

more

c)

less

d)

minimum

15.

Every purchase you made wouldn’t show up on your account statement because some take time to ___.

a)

wake up

b)

dark

c)

about

d)

clear

16.

You are required to make payments on an auto loan once a ___.

a)

date

b)

week

c)

month

d)

year

17.

Your new health insurance has a $4,000 deductible. This means you’ll need to pay ___ on medical expenses each year before your insurance will kick in.

a)

$4,000

b)

$2000

c)

$10,000

d)

$1.00

18.

The difference between net pay and gross pay is gross pay is your total paycheck and net pay is what you take home after ___.

a)

settlement

b)

taxes

c)

answer

d)

options

19.

Your employer withholds money from each ___. This money used to pay for federal and state taxes.

a)

paycheck

b)

statement

c)

deductible

d)

amount

20.

You would budget for your electric and heating bills

in “___”.

a)

Deductibles

b)

Annual

c)

Researching

d)

Utilities

21.

A health insurance ___ is the amount you pay when you visit a doctor.

a)

premium

b)

plan

c)

copay

d)

outpay

22.

There are many costs associated with owning a car. ___, registration, taxes, and inspection are things you’ll have to pay for, but arbitration is not something you’ll need to pay for.

a)

Maintenance

b)

Groceries

c)

Power bill

d)

Water bill

23.

You walk outside only to find that your car has been towed because you were parked illegally. You paid the towing company with a check and took this unexpected expense from the “___” budget.

a)

payments

b)

reserves

c)

meetings

d)

finances

24.

Double-entry accounting is a budgeting method where you record your earnings twice: once to ___ where your money is going and once to decide what it is for.

a)

artificial

b)

options

c)

payment

d)

track

25.

You decide to stop at the ATM and get money out of your account before going to the store. You’re a making a ___.

a)

premium

b)

deposit

c)

withdrawal

d)

deductible