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WorksheetsFinancial Literacy (Part I)
Total questions: 60
Worksheet time: 30mins
Gross income is:
Income after taxes
Income before taxes and deductions
Only bonus pay
Second-job income
Net income refers to:
Money before taxes
Total earnings including bonuses
Money you take home after deductions
Borrowed money
A budget is best described as:
A plan to spend and save your money
A list of items you want to buy
Past purchases
A loan document
Which is a variable expense?
Rent
Car payment
Electric bill
Internet bill
Which is a fixed expense?
Eating out
Rent
Gasoline
Clothing
The purpose of an emergency fund is to:
Buy luxury items
Cover unexpected expenses
Pay normal bills
Go on vacation
A high credit score usually means:
Higher loan interest
Better chances of approval
Higher taxes
Lower salary
APR stands for:
Annual Percentage Rate
Annual Payment Ratio
Average Price Rate
Accrued Percentage Return
Interest is:
Amount borrowed
Cost of borrowing money
A tax
A discount
A checking account includes:
High interest
Debit card access
No withdrawals
Unlimited overdrafts
A debit card pulls money from:
A loan
Your checking account
A credit line
A bond
A credit limit is:
Min. payment due
Max. amount you can borrow
Annual fee cost
Purchases allowed monthly
“Pay yourself first” means:
Spend first
Save part of every paycheck
Buy wants
Pay bills last
Identity theft occurs when someone:
Has your permission
Uses your information illegally
Pays a bill for you
Gives you money
A W-4 form tells employers:
Your tax owed
How much tax to withhold
Your bank balance
Your credit score
A W-2 form shows:
Future taxes
Earnings and taxes withheld
Your credit score
Purchase list
A 401(k) is mainly for:
Emergency savings
Retirement investing
Daily spending
Bills
A student loan is used for:
Cars
School expenses
Shopping
Stocks
A deductible is:
Monthly premium
Amount you pay before insurance pays
A late fee
A refund
Compound interest is:
Interest paid once
Interest on principal + previous interest
A tax
A penalty
Diversifying investments means:
One stock only
Spread money to reduce risk
Only real estate
High-risk gambling
A mutual fund is:
One company’s stock
A collection of investments
Debt
Insurance
A stock represents:
Loan to a bank
Owning part of a company
Taxes
A guarantee
A financial scam usually involves:
Slow growth
Guaranteed high returns
Verified banks
Safe money
Which savings account earns the most?
Drawer
Checking account
High-yield account
Cash
A financial risk is:
Guaranteed returns
Possibility of losing money
Fee
Tax form
A paycheck stub shows:
Credit score
Gross/net pay + deductions
Budget
Savings
A savings account is used for:
Long-term saving, low interest
Daily purchases
Borrowing
Bills
A want is:
Food
Water
Cable TV
Housing
A loan agreement is a:
Contract
Gift
Receipt
Coupon
Leadership is best described as:
Controlling others
Forcing people to work
Influencing/guiding a group
Doing all tasks alone
A democratic leader:
Decides alone
Encourages team input
Gives no direction
Delegates everything
A laissez-faire leader:
Gives constant orders
Gives freedom with minimal direction
Controls every detail
Avoids all communication
An autocratic (authoritarian) leader:
Allows voting
Gives strict directions, decides alone
Never decides
Only focuses on teamwork
A transformational leader:
Maintains status quo
Inspires and motivates growth
Punishes mistakes
Works alone
A servant leader prioritizes:
Power
Serving team needs
Giving orders
Competition
Integrity means:
Lying
Doing what is right
Blaming others
Avoiding conflict
Collaboration means:
Working alone
Competing only
Working together
Ignoring others
Leaders show confidence by:
Doubting choices
Speaking clearly, making decisions
Staying silent
Avoiding leadership
Accountability means:
Taking credit
Accepting responsibility
Blaming teammates
Hiding mistakes
A proactive leader:
Waits for problems
Plans ahead
Reacts slowly
Avoids responsibility
Leaders with empathy:
Hide feelings
Understand others
Avoid listening
Never show emotion
Effective communication includes:
Unclear instructions
Active listening
Ignoring questions
Talking over people
Conflict is best handled by:
Ignoring it
Open communication
Taking sides
Arguing more
Time management helps leaders:
Waste time
Prioritize tasks
Avoid responsibility
Slow problem response
A good leader is a role model by:
Negative behavior
Setting a positive example
Avoiding responsibility
Discouraging others
A team charter usually includes:
Random ideas
Goals & expectations
Hobbies
Foods
Leaders motivate by:
Criticizing
Offering support
Avoiding recognition
Confusing goals
Good teamwork means:
Working against others
Working together
Letting leader do all work
No cooperation
A leadership strength is:
Poor time management
Clear decision-making
Avoiding work
Blaming members
Active listening requires:
Waiting to talk
Eye contact & attention
Thinking of your response
Correcting the speaker
“I” statements help leaders:
Make it about themselves
Blame others
Express feelings respectfully
Avoid responsibility
Nonverbal communication includes:
Speeches
Emails
Facial expressions/posture
Reading instructions
Paraphrasing helps leaders:
Change topic
Show understanding
Prove others wrong
Impress
Best method to resolve conflict:
Gossip
Ignore
Face-to-face talk
Hints
Constructive feedback sounds like:
You always mess up.
Here’s a way to improve.
I hate your idea.
Terrible work.
Tone of voice affects communication by:
Changing meaning
Not mattering
Sounding fancier
Always confusing
Effective teamwork communication includes:
“I’ll do everything.”
“Let’s use strengths.”
“Figure it out.”
“Don’t ask me.”
Summarizing helps by:
Ending early
Proving someone wrong
Reviewing main points
Lengthening
If a teammate is confused, a leader should:
Make fun
Repeat clearly
Walk away
Delegate it
