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Worksheets1st semester final exam
Total questions: 35
Worksheet time: 22mins
putting money aside from current income to buy something in the future
spending
saving
sharing
expences
Dulce has $9 in the bank. She withdraws $3. Later, she deposits $4. How much money does Dulce have in the bank now?
$9
$16
$10
Jayden saves $5 each month. How much will he SAVE in 4 months?
$9
$20
$15
The money added to the cost of items and services . It is usually paid when an item is purchased.
Sales Tax
Income Tax
Markdown
Principal
Your total income before income tax or other deductions are taken out of it.
Net Income
Income Tax
Interest Income
Gross Income
Written document asking a bank to pay a certain amount from your account.
Coupon
Check
Rebate
Credit Card
The account that you can use to make payments with a check.
checking account
savings account
credit card
finances
Account where you put money to be held for a long period of time.
checking account
savings account
asset
credit card
What is a budget?
A plan for how money will not be used
A plan for how money will be used
The amount you spend
The amount you save
Which of the following describes credit?
Borrowing money that you have to pay back later.
A percentage that gets added back onto the total amount owed.
Money owed to a bank or lending company.
A person, bank, or company that lends money.
What are bills you have to pay called in finance?
Expenses
Savings
Credits
Wages
Select the best meaning for wage / salary.
Money paid by an employer to an employee for their labor / service.
Money paid for a specific event or percent sold.
The lowest amount an employer can legally pay.
Money set aside for future use.
What is money one earns through employment?
Income
Budget
Credit
Debt
You decide to stop at the ATM and get money out of your account before going to the store. You’re a making a ___.
premium
deposit
withdrawal
deductible
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.
payments
reserves
meetings
finances
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.
Maintenance
Groceries
Power bill
Water bill
A health insurance ___ is the amount you pay when you visit a doctor.
premium
plan
copay
outpay
You would budget for your electric and heating bills
in “___”.
Deductibles
Annual
Researching
Utilities
Your employer withholds money from each ___. This money used to pay for federal and state taxes.
paycheck
statement
deductible
amount
The difference between net pay and gross pay is gross pay is your total paycheck and net pay is what you take home after ___.
settlement
taxes
answer
options
You are required to make payments on an auto loan once a ___.
date
week
month
year
On Jan. 8th, your account was charged $30.00 for an overdraft fee. This happened because you spent ___ than what was in your account.
same
more
less
minimum
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.
total
basic
maximum
minimum
If you decide to rent a place to live, you’ll need to sign a ___.
lease
buy
own
borrow
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.
interest
deductible
payments
principal
A ___ is the name of the document that tells you what you need to pay on your credit card.
statement
answer
options
document
When moving to a new rental, you’ll likely need to pay a security deposit.
This is often the first and last month’s ___.
insurance
power bill
mortgage
rent
A ___is the document that comes with your paycheck and shows you what you were paid and how much was taken for taxes.
paystub
paypal
payfile
payment
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 ___.
promissory note
plan
repayment
claim
If you don’t pay your credit card balance off in full each month,
you’ll be charged ___.
interest
full amount
transaction
cents on the dollar
The best way to create a budget is to ___ your income into categories and plan how much you’ll spend on each.
multiply
divide
add
subtract
What is income?
Money that you owe another person.
Money that you put in your savings account.
Money that you earn.
Money that you spend on fun stuff for yourself.
How does your money grow once you put it in a savings account?
It earns interest over time.
The bank gives everyone the same amount each year.
You take money out to buy something you want.
It doesn't grow. It stay the same amount as long as it is in the bank.
debit card
money placed into an account
allows you to make purchases and pay for them at a later date, like a loan
a produce offered by a company promising to protect you from specific financial risks
used to make purchases with funds directly from a checking account; your own money
