Money Skills Quiz

Joe forgot to mail his car payment. The late fee he has to pay called a

• an alternative
• a consequence
• a risk
• an opportunity cost

When you write checks for more than you have in your checking account it is called?

• overdraft
• backdraft
• deficit spending
• underdraft

"Pay your self first" means....

• Pay your bills
• Deposit your paycheck
• Save money from every paycheck
• Buy groceries

When you overdraft your account what happens?

• The bank charges you an overdraft fee
• The bank will send the check back to where you wrote it
• The bank will charge you an overdraft fee
• all of these

True or False. When your buy something with a credit card, you will pay more for it.

• True
• False

The amount of money on your paycheck that is left after all deductions are taken out is called..

• gross pay
• net pay
• balance pay
• pay day

Another common name for net pay is....

• take home pay
• paycheck pay
• pay stub
• pay day

Which of these is a hidden job cost?

• employee discount
• vacation pay
• health insurance 
• uniform costs

An agreement between a tenant and a landlord is called a....

• contract
• lease
• rent
• deposit

Money that is held by the landlord to cover damages when a tenant moves out is called

• holding
• security deposit
• first months rent
• last months rent