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2024 Unit 4.1

Total questions: 11

Worksheet time: 6mins

Name
Class
Date
1.

The monetary charge for borrowing money

a)
Interest
b)
Service Charge
c)
Loan Fee
d)
Principal
2.

is the original amount of money that is borrowed, invested, or lent

a)
Deposit
b)
Principal
c)
Loan
d)
Interest
3.

a document that details a person's current financial circumstances, their short- and long-term monetary goals, and their strategies to achieve those goals.

a)
financial plan
b)
savings account
c)
investment portfolio
d)
budget report
4.

a spending plan based on income and expenses

a)
expense tracker
b)
financial report
c)
budget
d)
savings plan
5.

What is the term used to describe the money you earn from a job before any deductions are taken out?

a)

Net Income

b)

Gross Income

c)

Total Revenue

d)

Disposable Income

6.

this type of expense stays the same each month

a)

fixed income

b)

variable expense

c)

discretionary expense

d)

fixed expense

7.

expenses that change in cost and occurrence

a)
Variable expenses
b)
Irregular expenses
c)
One-time expenses
d)
Fixed expenses
8.

the amount of money left after taxes and other deductions are taken out of a paycheck

a)
gross pay
b)
taxable income
c)
take-home pay
d)
net pay
9.

a fixed amount of money agreed every year as pay for an employee

a)
bonus
b)
wage
c)
salary
d)
commission
10.

Pay that is based on the amount of hours worked

a)
Flat rate payment
b)
Commission-based pay
c)

Wage

d)
Salary based on performance
11.

when you earn interest not only on the money you originally put in (the principal) but also on the interest that money has already earned.

a)
Compound interest
b)
Simple interest
c)
Fixed interest
d)
Nominal interest