Personal Financial Literacy Review

Quiz
•
Mathematics
•
5th Grade
•
Medium

Taharga Ballard
Used 157+ times
FREE Resource
11 questions
Show all answers
1.
MULTIPLE SELECT QUESTION
5 mins • 5 pts
Select all disadvantages of using a credit cared to make payments.
Debt is created.
Fees and interest may be charged.
Debt is sometimes difficult to repay.
There are no disadvantages.
Convenient and easy to use.
2.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
When you make a deposit or put money into a bank account, what happens to the amount in your register?
The amount increases.
The amount decreases.
There is no change.
None of the above.
3.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
When trying to balance a simple budget, which of the following is the best possible way to begin?
Look at your bank statement to see how much income you have each month.
Subtract your income from your expenses each month.
Calculate your income for each month and determine how much money is needed for expenses.
None of the above.
4.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
Arthur wants to remodel his home by building a pool in the backyard. Which term best describes the tax that will be affected by the pool addition?
Payroll tax
Income tax
Property tax
Not here
5.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
Julio's budget for next week is shown.
Which additional item will balance this budget?
Income: Mowing lawn $20.00
Income: Babysitting $25.00
Expense: Clothing $20.00
Expense: Gasoline $65.00
CLEAR ALL
6.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
Margaret bought an item for $100, but when she saw her receipt, she realized that she actually paid $108.20. Which statement best describes the reason why Margaret paid over $100 for the item?
She paid sales tax.
She paid payroll tax.
She paid income tax.
She paid property tax.
7.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
Angela had her first job in a grocery store. She was able to work 10 hours at a rate of $12.00 per hour and make $120 for the week. However, her pay check was for the amount of $96.00. Which of the following describes this amount?
Gross Income
Net Income
Both a and b
None of the above
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