WorksheetsPersonal Finance and Career Readiness Quiz
Total questions: 40
Worksheet time: 20mins
What is the first step in rational decision-making?
Making a purchase
Listing all criteria
Identifying alternatives
Asking for advice
Which is an example of a post-high school path?
Retirement
High school internship
College
Repeating senior year
What is a benefit of attending technical school?
Longer programs
Higher tuition
Faster entry into workforce
No job placement services
Which type of income is earned from hourly pay?
Salary
Tips
Wages
Capital gains
A person earning a salary:
Is paid based on hours worked
Gets bonuses every day
Has a fixed annual income
Is usually paid in cash
Dividends are:
Interest from a loan
Wages paid weekly
Earnings from stocks
Government grants
Capital gains result from:
Job promotions
Stock dividends
Selling investments for a profit
Overtime pay
An independent contractor typically receives:
W-2
1040EZ
1099
W-4
Which of these is an example of a fixed expense?
Groceries
Rent
Entertainment
Gasoline
What is net worth?
Monthly income
Debts only
Assets minus liabilities
Budget balance
What does a budget help you do?
Earn more money
Spend without limits
Track income and expenses
Pay more taxes
Which is not a basic component of a personal budget?
Income
Expenses
Loans
Savings
What is a credit union?
For-profit bank
Government agency
Not-for-profit financial institution
Payday lender
Payday lenders:
Offer free financial advice
Are non-profit
Charge high interest
Have no repayment deadlines
Which offers the lowest risk and return?
Stocks
Mutual funds
Savings account
Real estate
What does "diversification" mean in investing?
Putting all money into one stock
Spreading investments across various assets
Avoiding stocks completely
Investing only in real estate
A credit score does NOT consider:
Payment history
Social media activity
Credit utilization
Length of credit history
Which credit type has a fixed payment schedule?
Revolving credit
Store credit
Installment credit
Gift cards
One cause of bankruptcy is:
Frequent vacations
Watching TV
Medical expenses
Owning a car
Which is a consequence of bankruptcy?
Increased credit score
Loan forgiveness
Loss of assets
No effect on future loans
What is the purpose of insurance?
Avoid paying bills
Transfer financial risk
Eliminate all risks
Increase income
A deductible is:
A bonus payment
Insurance payout
Amount you pay before insurance kicks in
Monthly premium
Which type of insurance covers theft in a rented apartment?
Homeowners
Renters
Life
Disability
Health insurance typically helps pay for:
House repairs
Car damages
Medical expenses
Business losses
Compound interest:
Grows slower than simple interest
Adds interest to original amount only
Earns interest on interest
Is illegal
A fixed interest rate:
Changes monthly
Is only for credit cards
Stays the same during loan term
Is a type of fee
APR includes:
Principal only
Interest + fees
Only insurance
Monthly budget
Who is most likely to get a low interest rate loan?
A person with bad credit
Someone unemployed
A person with strong credit history
Someone under 18
The FTC helps:
Print money
Collect taxes
Protect consumers
Set prices
What does the FDIC do?
Charges bank fees
Insures bank deposits
Issues credit reports
Sells insurance
What is the role of the CFPB?
Print checks
Oversee national parks
Monitor financial products and services
Set income tax rates
Phishing is:
A sport
Stealing through fake emails
A legal scam
Bank transaction
One way to prevent identity theft:
Share passwords
Use public Wi-Fi for banking
Shred sensitive documents
Keep PINs in your wallet
What should you do if your identity is stolen?
Post on social media
Ignore it
Alert your bank and freeze credit
Change your name
A Ponzi scheme:
Is a legal investment
Pays returns using new investors’ money
Pays interest monthly
Is a type of insurance
“Pump and Dump” involves:
Home loans
Budgeting tools
Artificially inflating stock prices
Long-term investing
Punctuality means:
Leaving early
Arriving on time
Working overtime
Doing homework
Which is NOT a soft skill?
Time management
Work ethic
Typing speed
Teamwork
A person with good character:
Ignores rules
Does the right thing consistently
Lies often
Always agrees with others
Communication skills involve:
Talking non-stop
Only writing emails
Getting ideas across clearly
Being quiet in meetings
