Financial Literacy Quiz

1. The income that is left after taxes.

• A. Credit Card

• B. Gross Income

• C. Net Income

• D. Sales Tax

2. The money that is added to the cost of items or services.

• A. Credit Card

• C. Net Income

• D. Sales Tax

• E. Property Tax

3. A card issued by a bank that allows a user to buy items/services immediately and pay at a later time.

• A. Credit Card

• B. Gross Income

• C. Net Income

• D. Sales Tax

4. The total income before any taxes are taken out.

• A. Credit Card

• B. Gross Income

• C. Net Income

• D. Sales Tax

5. A portion of the value of an item, such as land

• B. Gross Income

• C. Net Income

• D. Sales Tax

• E. Property Tax

6. Maura payz $0.02 in sales tax for every $1 that she spends. If Maura buys $60 worth of items, what is the total cost?

• A. $60

• B. $0.02

• C. $1.20

• D. $61.20

7. Paul pays property tax in Dallas. On which of the following might Paul pay property tax?

• A. Clothing

• B. Office Building

• C. Salary

• D. Groceries

8. Lorena makes a list of the taxes she pays each month. How much does she pay in payroll tax?

• A. $418.24

• B. $21.35

• C. $177.59

• D. $240.65

9. Ralph makes a monthly budget. His monthly allowance is $40. He makes $25 each month from mowing the neighbor's lawn. Ralph's monthly expenses are $75. How much does he need to earn from babysitting to balance his budget.

• A. $75

• B. $10

• C. $50

• D. $35

10. Which of the following can Chelsea use to purchase an items if she wants to pay for her purchase at a later time?

• A. Debit Card

• B. Check

• C. Credit Card

• D. Money Transfer