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Personal Finance End of Year

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

Personal finance is 20% head knowledge about money. What's the other 80%?

a)

Cash in the bank

b)

Experience

c)

Behavior

d)

Relationships

2.

The Five Foundations provide a simple ____ to help you win with money.

a)

Action plan

b)

Guide for investing

c)

Suggestion

d)

Educational course

3.

A ____ expense stays the same from month to month.

a)

Variable

b)

Intermittent

c)

Discretionary

d)

Fixed

4.

What's your biggest wealth-building tool?

a)

Investments

b)

Savings account

c)

Income

d)

Inheritance

5.

What will tracking expenses help you do?

a)

Stick to a budget

b)

Catch errors

c)

Make adjustments

d)

All of these

6.

The First Foundation is: Save a ____

a)

$5,000 emergency fund

b)

$500 emergency fund

c)

$1,000 emergency fund

d)

$100 emergency fund

7.

What two elements do you need to build wealth through compound growth?

a)

An inheritance and a lawyer

b)

Money invested and good stocks

c)

Money invested and time

d)

Time and a wealthy relative

8.

With a debit card, you can do everything you can do with a credit card except what?

a)

Rent a car

b)

Stay at a hotel

c)

Fly on an airplane

d)

Go into debt

9.

I need to have a FICO score.

a)

True

b)

False

10.

What's the main reason why people have trouble being content?

a)

Comparison

b)

Income

c)

Marketing

d)

Patience

11.

_______ is when someone else uses your personal information to commit fraud.

a)

Card fraud

b)

Card skimmer

c)

Identity theft

d)

Mail stealers

12.

Your social media posts, your style, and your speech all help to build what?

a)

Hard skills

b)

Career

c)

Personal Brand

d)

Resume

13.

What should you do to win a job interview?

a)

Dress super trendy

b)

Chew gum

c)

Avoid eye contact

d)

Ask questions

14.

You can remain on your parents' health insurance plan until you are:

a)

21 years old

b)

25 years old

c)

26 years old

d)

29 years old

15.

Which insurance covers you if you're injured and can't work for a period of time?

a)

Disability

b)

Long-term care

c)

Renters

d)

Term life

16.

_____ is your total pay before taxes and withholdings are taken out.

a)

Net income

b)

Earned income

c)

Passive income

d)

Gross income

17.

Which form is used to calculate how much income tax is withheld from your pay?

a)

Form W-2

b)

Form W-4

c)

Form 1098

d)

Form 1099

18.

____ are made up of a pool of money from a group of investors to invest in stocks, bonds, money markets, and similar assets.

a)

Certificates of deposit

b)

Single stocks

c)

Bonds

d)

Mutual Funds

19.

You should invest ____ of your income for retirement.

a)

10%

b)

15%

c)

20%

d)

25%

20.

The most important personal finance lesson is:

a)

Spend more than you make

b)

Do not have a plan

c)

Stay away from debt

d)

Wait to invest