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Banking Post Test

Total questions: 11

Worksheet time: 8mins

Name
Class
Date
1.

When creating a budget what financial information should you include?

a)

Income & Expenses

b)

Income, Expenses & Investment Goals (Savings)

c)

Income, Expenses, Bills you've already paid

2.

Once you develop a budget you should never change it?

a)

True

b)

False

3.

You do NOT need to include an emergency fund in your budget?

a)

True

b)

False

4.

What is income?

a)

The money you have coming in

b)

The money you are spending

5.

What are expenses?

a)

The money you have coming in

b)

The money you are spending

6.

There are ______ different types of expenses.

a)

two

b)

three

c)

four

7.

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

a)

Car Payment

b)

Electric Bill

c)

New Sneakers

8.

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

a)

School Supplies

b)

Groceries

c)

Mortgage/Rent

9.

A FIXED expense occurs ___________.

a)

Every month and the amount stays the same.

b)

Every month and the amount changes.

c)

Occurs randomly and the amount changes.

10.

A FLEXIBLE expense occurs __________.

a)

Every month and the amount stays the same

b)

Every month and the amount changes

c)

Occurs randomly and the amount changes

11.

Hannah spent $648.00 for the month, while her monthly income was $1155.00. How much did Hannah have at the end of the month?

Type your answer in the following format - $0000.00

4 lines