Wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Dollars & Sense Semester Review

Total questions: 50

Worksheet time: 26mins

Name
Class
Date
1.

The lowest hourly wage employers can pay most workers by law is

a)

Bonus

b)

Commission

c)

Minimum wage

d)

Salary

2.

Income paid as a percentage of sales made by a salesperson

a)

Bonus

b)

Commission

c)

Minimum wage

d)

Salary

3.

Money added to an employee's base pay is

a)

Bonus

b)

Commission

c)

Minimum wage

d)

Salary

4.

What are three questions you should ask yourself before buying something?

a)

Can I afford it?

b)

What will the consequences of my purchase be?

c)

Should I use my credit or debit card?

d)

How will I pay for it?

5.

Movement of funds from one account to another is

a)

Transfer

b)

Bank statement

c)

Endorsement

d)

Withdrawal

6.

The lowest amount required, on a credit card, to keep the account in good standing is

a)

Debt

b)

Minimum payment

c)

Principal

d)

Credit Limit

7.

When you owe more money than you have is a

a)

Debt

b)

Minimum payment

c)

Principal

d)

Credit Limit

8.

Amount you can charge on an account and is determined by the credit card company is

a)

Debt

b)

Minimum payment

c)

Principal

d)

Credit limit

9.

The term for an original amount of money on which interest is calculated is

a)

Debt

b)

Minimum payment

c)

Principal

d)

Credit limit

10.

APY stands for Annual Percent Yield

a)

True

b)

False

11.

Another name for 'tip' is 'gratuity'.

a)

True

b)

False

12.

An overdraft is a check that is included on your bank statement.

a)

True

b)

False

13.

A disadvantage of using a credit card are fees and interest charges.

a)

True

b)

False

14.

Why do the credit card companies want to know how long you have stayed at your address?

a)

To be approved for a credit card you have to live there for at least 5 years.

b)

Credit card companies want to know you are consistent, and have a stable home/income.

c)

To send your credit card to the right address.

d)

The longer you stay at an address, the higher your score will be.

15.

Which of the following is not included on a credit report?

a)

Social Security Number

b)

Current address

c)

Amount of car loan

d)

Number of children

16.

What feature applies ONLY to a credit card?

a)

Can wire payments

b)

Money is loaned to cover the cost of the purchase

c)

Money is directly withdrawn from a checking account

d)

Transfer money to a savings account

17.

What are 2 advantages of having a credit card?

a)

Buy now, pay later

b)

Bonuses

c)

Interest rates

d)

Travel rewards

18.

How long is the information in a person's credit report kept on file?

a)

7-10 years

b)

2-3 years

c)

1 year

d)

The information stays permanently on the credit report and there's no fixing it.

19.

A sum of money required by the government to support the government itself and other products and services is

a)

Taxes

b)

Financial portfolio

c)

Income

d)

Gratuity

20.

Income tax, Payroll tax, Property tax, Sales tax, and Excise tax are the

a)

Main types of taxes

b)

Lowest types of taxes

c)

Highest types of taxes

21.

The higher you income, the lower the amount of taxes you will have to pay

a)

True

b)

False

22.

Texas does not have state income tax.

a)

True

b)

False

23.

The sales tax in Texas is

a)

5%

b)

7.25%

c)

8%

d)

8.25%

24.

This type of retirement plan provides no tax break for contributions, but earnings and withdrawals are generally tax free.

a)

401(k)

b)

403(b)

c)

Roth IRA

d)

Traditional IRA

25.

This type of retirement plan is typically offered through employers, offers some tax benefits, and restricts when you withdraw your money (Select all that apply)

a)

401(k)

b)

403(b)

c)

Roth IRA

d)

Traditional IRA

26.

Tax returns for individuals and married couples must be filed by what date each year?

a)

January 15th

b)

March 15th

c)

April 15th

d)

December 15th

27.

If you worked for an employer, which form will you receive stating how much income and taxes were reported to the government on your behalf?

a)

W2

b)

W4

c)

W9

d)

W99

28.

If you have paid more tax than you actually owe based on your taxable income after credits are taken out,, which of the following will apply to you?

a)

You will pay in the additional amount owed

b)

You will get a refund

c)

Your taxes next year will be less

d)

You could be sent to jail

29.

If you have paid less tax than you actually owe based on your taxable income after credits are taken out, which of the following will apply to you?

a)

You will pay in the additional amount owed

b)

You will get a refund

c)

Your taxes next year will be less

d)

You could be sent to jail

30.

Which of the following is the federal bureau which collects taxes and turns the money over to the Treasury Department?

a)

Congress

b)

Department of Tax Collection

c)

Internal Revenue Service (IRS)

d)

Executive Department

31.

Which of the following terms describes the leftover amount when liabilities or debts are subtracted from the assets owned?

a)

Portfolio

b)

Trades

c)

Net worth

d)

Bonds

32.

The money left over after you have paid all of your bills is

a)

Disposable income

b)

Restricted income

c)

Gross income

d)

Fixed income

33.

A monthly utility bill is an example of which of the following expenses?

a)

Discretionary

b)

Fixed

c)

Variable

d)

Secure

34.

A rent payment is an example of which type of expense?

a)

Discretionary

b)

Fixed

c)

Variable

d)

Secure

35.

The definition of "take home pay" refers to which of the following?

a)

Money employers pay on behalf of employees for taxes

b)

Money paid to the employee after taxes

c)

Money paid to the employee before taxes

d)

Money paid by the employee to the IRS

36.

Which of the following medical assistance programs is offered to certain low income individuals and families?

a)

Medicare

b)

Medicaid

c)

The State Children's Health Insurance Program (CHIPS)

d)

Veterans Health Administration

37.

Which of the following is the term for the person who will receive the benefits of an insurance policy upon the death of the policyholder?

a)

Beneficiary

b)

Subordinate

c)

Matriarch

d)

Patriarch

38.

Which of the following countries was the largest textile and apparel supplier to the US in 2013?

a)

India

b)

China

c)

Vietnam

d)

Thailand

39.

When investing, the higher the risk, the higher the award.

a)

True

b)

False

40.

Which of the 2 of these 3 are employee benefits?

a)

Health Insurance

b)

Paid Time Off (PTO)

c)

New Cell Phone

41.

A tax return covers 12 months of income and expenses. Which months are covered?

a)

January - December (calendar year)

b)

April - March (fiscal year)

c)

Each company chooses their own

d)

September - August (fiscal year)

42.

Which of the following best fits the taxes which local governments collect?

a)

Sales tax and Income tax

b)

Property tax and income tax

c)

Sales tax and property tax

d)

Income tax only

43.

Andrea earns $14 per hour and works 20 hours per week. She receives her paycheck for her hours worked during the week every Friday afternoon. What is her gross pay?

a)

$160

b)

$280

c)

$260

d)

$200

44.

Which of the following is NOT a factor affecting home insurance prices?

a)

Home location

b)

Structure of the home

c)

Coverage amount

d)

Homeowner's income

45.

Which of the following types of disability insurance covers workers who are injured or become ill due to workplace conditions?

a)

Private Insurance Programs

b)

Social Security

c)

Worker's Compensation

d)

Group Insurance Programs

46.

Where does marketing exist?

a)

Only in stores

b)

Wherever a product is sold to the customer

c)

On the Internet

d)

In customer's mail

47.
  1. What is the minimum wage in the EU? 

a)
  1. $13 per hour 

b)

$3500 per month

c)

There is no set minimum wage

d)

$15 per hour

48.

Sales taxes are collected from the consumers by which of the following?

a)

Store merchants

b)

City governments

c)

State comptrollers

d)

IRS

49.

A tax on the manufacturing, sale, and consumption of products, such as tobacco or alcohol is known as which of the following?

a)

Estate tax

b)

Excise tax

c)

Gift tax

d)

Luxury tax

50.

Which of the following is the term for the person who will receive the benefits of an insurance policy upon the death of the policyholder?

a)

Beneficiary

b)

Subordinate

c)

Matriarch

d)

Patriarch