WorksheetsPersonal Finance Quiz
Total questions: 44
Worksheet time: 27mins
Making the right choices with your money involves knowing how...
Consumer decisions will affect your accounts
Planning, saving, spending, and investing will define your financial portfolio
You should always make sure you have a...
Debit Card
Credit Card
To gain an understanding of your personal finances, you should know...
How much income you have
Your investment portfolio and your financial advisor's contact information
Personal finance is all the financial decisions an ____________ must make in order to earn, budget, save, spend, and give money over time.
Company or organization
Individual or company
After WW1, the demand for products increased, and people began getting credit without a loan shark. Because of this, credit...
Was offered at even higher interest rates
was devalued in the marketplace
A money principle to keep in mind is to live on ____________ you make.
More than
the same as
To know your net worth, subtract your liabilities from your ____________.
Net Income
Other liabilities
If your assets total more than your liabilities, you will have a ___________ net worth.
Which of the following is not a component of a budget?
Credit Score
Saving
Spending
What does a budget show you?
How much money you plan to come in and out during the month
How much you need to earn
How much you need to spend next year
Net income is the amount you get paid before taxes.
True
False
What kind of money counts as income?
Only money you make at work
All money you receive from work and gifts such as birthday or Christmas
Only money deposited into your bank account
Commission is when you make money based on the percentage of ___________;
Your monthly rent payment is an example of a variable expense.
True
False
45% of Americans have less than $1,000 for an _______________.
It's not IF an emergency happens, but ___________.
Why
Where
If you really want to save money, you’ve got to……
Fly Economy Class
Have a financial advisor
An example of discretionary spending is ___________.
Transportation
Monthly Rent
When someone steals and uses your debit card info, it is called ___________.
Networking
Borrowing
Why does brand recognition help businesses?
It makes their name and logo easily memorable
It helps the business recognize their own logo
It helps them partner with other businesses
An entrepreneur is someone who ___________.
A big time banker
A person that uses loans for their budget
What is the proximity principle?
In order to do what you want to do, you need to be around people that are doing it and in places where it's happening
In order to do what you want, you need to be near the ocean
In order to do what you want you need to be around only people that are super successful and that do not want to help you grow
This document is a summary of all your work and educational experiences ___________.
Application
Resignation
These skills are ones you learn in school or through special training.
Hard
Soft
Which of the following is an example of a soft skill:
Computer programming
Building a frame for a bedroom wall
Being a team player
Mentors are people who can guide, encourage, and hold you accountable as you make the climb to your dream job.
True
False
Employers consider soft skills as important as hard skills.
True
False
Your first job will likely be your dream job.
True
False
If you or a family member needs medical attention, what insurance would cover that?
Car
Medical
Home
If a tree falls on your home and damages a window, what insurance would cover that?
Car
Medical
Home
If you get hit while driving through an intersection, what insurance would cover that?
Car
Medical
Home
What is the best way to get insurance?
Money you have to pay in order to receive insurance support for expenses is called what?
Claim
Money that you pay before the insurance company pays.
Claim
A written explanation of why you need insurance assistance and how much money.
What type of life insurance covers a person’s entire life?
Whole
Term
Umbrella
What type of life insurance covers part of a person’s life?
Whole
Term
This type of insurance covers your belongings in the house or apartment if you do not own the house or apartment.
Homeowner’s
Life
Renter’s
What is dwelling coverage?
Insurance that covers personal property in your home.
Insurance that covers the roof, walls, and floors of the home.
Insurance that covers cost if someone gets hurt inside or outside of your home.
What is home liability coverage?
Insurance that covers personal property in your home.
Insurance that covers the roof, walls, and floors of the home.
Insurance that covers cost if someone gets hurt inside or outside of your home.
What is the Affordable Care Act often referred to as?
Bidencare
Reagancare
Obamacare
How long can someone stay on their parent's insurance under the Affordable Care Act?
21
26
29
What does it mean if your employer subsidizes your health insurance?
They pay part of the premium.
They pay all of the premium.
That’s not a real word.
Explain what a lifetime limit is for health insurance.
