Quiz about 4th Math STAAR Review 4.10 (Financial Literacy)

Question 1

Car Payment

Accepted Answer

Fixed Expense

Answer

Variable Expense

Question 2

Restaurant Bill

Accepted Answer

Variable Expense

Answer

Fixed Expense

Question 3

Car Repair

Accepted Answer

Variable Expense

Answer

Fixed Expense

Question 4

Rent Payment

Accepted Answer

Fixed Expense

Answer

Variable Expense

Question 5

Jane mowed lawns all summer for some extra money. She paid $145 for gas, $11 for a new filter and $75 for lawn mower repair. She earned $1,986. How much were her EXPENSES. (How much she had to pay)

Accepted Answer

$231

Answer

$1,986

Answer

$2,217

Answer

$600

Question 6

Jane mowed lawns all summer. She paid $145 for gas for her mower, $11 for a new mower filter and $75 for mower repair. She made $1,986. What was her PROFIT? (Profit - how much money she had left after she paid her expenses)

Accepted Answer

$1,755

Answer

$2,217

Answer

$231

Answer

$600

Question 7

Joe delivered newspaper last summer. He earned $3,680 for his work. His expenses totaled $689. What was his PROFIT?

Accepted Answer

$2,991

Answer

$4,369

Answer

$2,644

Answer

$3,000

Question 8

Which of these is NOT provided by a financial institution such as a bank or credit union?

Accepted Answer

paying your bills

Answer

lending money to people and businesses

Answer

paying you interest on money in your savings account

Answer

keeping money safe

Question 9

What does the word EXPENSES mean?

Accepted Answer

How much money it cost

Answer

How much money someone earned in all

Answer

How much money someone earned after they subtracted how much it cost them

Answer

how much money was lost

Question 10

What does the word REVENUE mean?

Accepted Answer

how much expenses cost

Answer

The complete total someone is paid for a job

Answer

the total after expenses are subtracted

Answer

how much money there was

Question 11

Mrs. Moore pays $10.99 every month for Netflix. What kind of EXPENSE is the Netflix payment?

Accepted Answer

a fixed expense because the amount stays the same every month

Answer

A variable expense because the amount changes every month

Answer

a variable expense because the amount stays the same every month

Answer

a fixed expense because the amount changes every month

Question 12

Lucy wants to deposit her weekly allowance into a savings account. What is one problems with a savings account?

Accepted Answer

it pays a very small interest

Answer

it is hard to withdraw and deposit money into it

Answer

the money can be lost or stolen

Answer

you must have a lot of money to open a savings account

Question 13

Carlos has a weekly allowance of $24. He spends $4 on snacks and $6 on entertainment each week. He is saving the rest for a printer that costs $224. How many weeks will it take Carlos to save enough money to buy the printer?

Accepted Answer

16 weeks

Answer

12 weeks

Answer

21 weeks

Answer

13 weeks

Question 14

A card that uses money directly from your bank account

Accepted Answer

Debit Card

Answer

Credit Card

Answer

Pokemon Card

Answer

Baseball Card

Question 15

What does the word DEPOSIT mean in regards to money and banks.

Accepted Answer

to put money or other valuables in a safe place

Answer

to spend

Answer

to save

Answer

to take money or valuables out of a safe place

Question 16

Mr. Martin uses more gas in the winter to keep the house warm.  His bills have ranged from $78.67 to $246.13.  What kind of expense is Mr. Martin's heating bill?

Accepted Answer

A variable expense because the amount changes every month

Answer

a fixed expense because the amount is usually the same every month.

Answer

A fixed expense because the amount changes every month

Answer

A variable expense because the amount is the same every month

Question 17

Mrs. Moore pays $10.99 every month for Netflix. What kind of EXPENSE is the Netflix payment?

Accepted Answer

a fixed expense because the amount stays the same every month

Answer

A variable expense because the amount changes every month

Answer

a variable expense because the amount stays the same every month

Answer

a fixed expense because the amount changes every month

Question 18

What does the word EXPENSES mean?

Accepted Answer

How much money it cost

Answer

How much money someone earned in all

Answer

How much money someone earned after they subtracted how much it cost them

Answer

how much money was lost

Question 19

What does the word PROFIT mean?

Accepted Answer

How much money is left after expenses are paid

Answer

How much money was made in all

Answer

How much money was spent

Answer

how much money was gone

Question 20

Which of the following will a bank provide?

Accepted Answer

Keep your money safe

Answer

Pay your bills

Answer

Put money into your account

Answer

Balance your checkbook

Question 21

Mr. Black pays $75 a month for Sudden Link Wi-Fi.  This expense is a:

Accepted Answer

Fixed expense because it stays the same every month

Answer

Fixed expense because it changes every month

Answer

Variable expense because it stays the same every month

Answer

variable expense because it changes every month

Question 22

The Caprock choir members' REVENUE for a car wash was $2,050. Their EXPENSES were: $45 for soap, $150 for rags and towels and $34 for pizza for the students who were working.
What was their PROFIT?

Accepted Answer

$1,821

Answer

$229

Answer

$2,050

Answer

$2,279

Question 23

Mr. Martin uses more gas in the winter to keep the house warm.  His bills have ranged from $78.67 to $246.13.  What kind of expense is Mr. Martin's heating bill?

Accepted Answer

Variable expense because the amount is different every month

Answer

a fixed expense because the amount is usually the same every month.

Answer

A fixed expense because the amount is different every month

Answer

a variable expense because the amount is the same every month

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