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Personal Finance

Total questions: 44

Worksheet time: 44mins

Name
Class
Date
1.

The entire amount of your income or paycheck before any deductions

a)

Net Pay

b)

Gross pay

c)

Income Tax

d)

Social Security Tax

2.

a tax used to fund a program of the US government that gives money to elderly people. The elderly receive funds because the federal government has deducted money from each of their paychecks during the course of their working lives.

a)

Net Pay

b)

Gross pay

c)

Income Tax

d)

Social Security Tax

3.

a bank account that pays you interest for keeping your savings in it. Banks use your money to make loans, so they pay you interest for the use of your money

a)

Savings Account

b)

Bank Account

c)

Debit Account

d)

Expense Account

4.

Money that is owed.

a)

loan

b)

debt

c)

mortagge

d)

collateral

5.

Choose all of the following that are true about this paystub:

a)

Her net pay for the year so far is $536.16

b)

Ms. Smart is paid every other week

c)

Ms. Smart paid $9.32 towards Medicare in this pay period only?

d)

Ms. Smart doesn't have to pay state income tax in Utah.

6.
When you combine Medicare and Social Security what Tax do you have?
a)
FICO
b)
FICE
c)
FACE
d)
FICA
7.
What two things does a budget compare?
a)
Income and Expenses
b)
Savings and Interest
c)
Income and Investments
d)
Expenses and Expenditures
8.
Which is an example of a fixed expense?
a)
Cell Phone
b)
Utility bill
c)
Groceries
d)
Gasoline
9.
This occurs when money is withdrawn from a bank account and the available balance goes below zero.
a)
overdraft
b)
reconcile
c)
balanced
d)
budgeting
10.
Expenses that stay the same every month are _________ expenses. Rent would be an example.
a)
fixed
b)
discretionary 
c)
variable
d)
intermittent
11.
You have to eat so you need to buy groceries. This is a(n) ___________ expense.
a)
fixed
b)
discretionary
c)
variable
d)
intermittent
12.
What percentage of Americans live paycheck to paycheck?
a)
70
b)
25
c)
50
d)
10
13.
An example of a SMART Goal requiring a budget.
a)
Wanting to earn honor roll
b)
Wanting to buy new furniture next month by saving $50 each check
c)
Wanting to make a sports team
d)
Wanting to wear jeans on Friday
14.
What is potentially one bad thing that could happen if you do not live within your means?
a)
You could have to move back home with your parents
b)
You could increase your credit score
c)
Nothing.  Its a trick question.
d)
Collection agencies can come after you and possibly even facing court charges
15.
What is one advantage of having a credit card?
a)
It prevents you from spending more than you earn.
b)
It allows you to make purchases without carrying lots of cash.
c)
It encourages you to budget your money wisely.
d)
It helps you pay off debts that you may have.
16.
Why would your credit provider give you a credit limit?
a)
To remind you to pay your bill on time.
b)
To prevent you from enjoying the things you buy.
c)
To prevent you from spending more money than you can pay back.
d)
To prevent you from shopping in certain places.
17.
How do credit card companies make money?
a)
By charging late fees and interest to their customers.
b)
By making you pay an extra dollar on every purchase.
c)
By charging late fees and interest to stores and other businesses.
d)
By earning interest on the money they have saved up.
18.
The cost of credit expressed as a yearly interest rate is known as:
a)
Annual Percentage Rate (APR)
b)
Annual Fee
c)
Penalty APR
d)
Introductory Rate
19.
The maximum amount you may borrow on a credit card is known as:
a)
creditworthiness
b)
credit report
c)
credit limit
d)
variable rate of credit
20.
How can you avoid paying interest fees on your credit card?
a)
Only use it for groceries
b)
pay off the full balance, on time, each month
c)
you cannot avoid interest fees
d)
only use Discover
21.
The cost of borrowing money is referred to as 
a)
Interest 
b)
Annual Percentage Rate 
c)
Credit 
d)
Credit Line 
22.
The least amount that must be paid on a credit card each month is
a)
Late Fee
b)
Credit Limit
c)
Payment amount
d)
Minimum Payment
23.
You have a choice between two credit cards: American Express 8.99% or Chase Sapphire 12.99%. Which card offers the better rate?
a)
American Express
b)
Chase Sapphire
c)
Neither
d)
All of the above
24.

What is the maximum cardholder liability for unauthorized charges under the Fair Credit Billing Act?

a)

$0

b)

$100

c)

$50

d)

$200

25.

What should you do if you discover fraudulent activity on your credit card account?

a)

Ignore it and hope it goes away

b)

Post about it on social media

c)

Contact the credit card issuer immediately

d)

Wait for the next statement to see if it happens again

26.

Match the way fraud may occur in the scenario: A scammer has attached a device to a gas pump to access credit card information.

a)

Computer

b)

Skimming

c)

Phishing

d)

Stealing

e)

Diverting mail

27.

Phishing means

a)

Using a phishing pole in the water and catching phish

b)

Someone could've been more careful with spell check

c)

Websites and emails created to trick you

d)

A new dance craze

28.

Can you get an email scam from someone even if you never gave your email to that person?

a)

No, you can only receive a scam from someone you know

b)

Yes, Phishing scammers harvest email addresses

c)

No, only if you give out your email to family and friends

d)

No, but I am not sure why

29.

Is this a real phishing attack or not?

a)

its an ATTACK

b)

not an attack

c)

I don't know

d)

Maybe

30.

To Phish or Not to Phish

a)

Its an ATTACK

b)

Not an attack

c)

I don't know

d)

Maybe

31.

What is the hint to tell you it is a attack? Select all that apply then submit.

a)

It's not an Attack

b)

no names were used

c)

urgent time to reply

d)

The incorrect spelling

32.

What made you think this is a phishing attack

a)

email name

b)

the time it was sent

c)

isn't a real name

d)

.net is not safe

33.

What should you do if you receive an email from an unknown sender with an attachment?

a)

Open the attachment immediately

b)

Delete the email without opening the attachment

c)

Forward the email to your friends

d)

Reply to the email asking for more information

34.

Which of the following is a sign that a website might be unsafe?

a)

The URL starts with 'https'

b)

The website has a lot of pop-up ads

c)

The website has a privacy policy

d)

The website is recommended by a friend

35.

Which job is considered a trade?

a)

Electrician

b)

Guidance Counselor

c)

Secretary

d)

Lawyer

36.

Most trade careers are good for anyone who

a)

wants to go to college after finishing high school.

b)

want to work in a clean environment.

c)

like working with their hands.

d)

wants to earn tips.

37.

Which job do you think requires a four year degree?

a)

Electrician

b)

Elementary teacher

c)

Welder

d)

Carpenter

38.
A summary of a person's education, skills, and work experience is called a/an:
a)
essay
b)
resume'
c)
journal
d)
list
39.
People who can provide information about you and your work habits are:
a)
Friends
b)
Acquaintances
c)
Siblings
d)
References
40.
The purpose of planning for the future is to ensure which of the following? 
a)
You get a job immediately after graduating high school 
b)
You obtain the biggest salary possible
c)
You make choices today which will benefit you in the long term
d)
You do not have to sacrifice anything to have the job you want 
41.

What is the difference between a public and a private profile on social media?

a)

Public profiles are only visible to friends

b)

Private profiles are visible to everyone

c)

Public profiles can be seen by anyone, while private profiles are only visible to approved users

d)

There is no difference

42.
Which is a good way to maintain a positive digital footprint?
a)
Don't overshare
b)
Use privacy settings
c)
Only post things that you would want everyone to see
d)
All of the above
43.
Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?
a)
$800
b)
$1,000
c)
$1,200
d)
$1,500
44.

When Loofa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. What will her account total after 18 years?

a)

$720

b)

$20,960

c)

$1,080

d)

$12,960

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