Understanding Personal Finance Basics

Understanding Personal Finance Basics

7th Grade

15 Qs

quiz-placeholder

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Understanding Personal Finance Basics

Understanding Personal Finance Basics

Assessment

Quiz

Financial Education

7th Grade

Practice Problem

Medium

DOK Level 1: Recall, DOK Level 2: Skill/Concept

Standards-aligned

Created by

Tessie Dyresen

Used 31+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Gross Pay?

The amount of money you take home after all deductions.

The total amount of money earned before any deductions.

The amount of money left after paying all expenses.

The amount of money saved each month.

Tags

DOK Level 1: Recall

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

$2500

$3000

$3500

$500

Tags

DOK Level 2: Skill/Concept

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a Fixed Expense?

Groceries

Rent

Entertainment

Clothing

Tags

DOK Level 1: Recall

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Identify the Need from the following options:

New smartphone

Monthly rent

Movie tickets

Designer clothes

Tags

DOK Level 1: Recall

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered a Want?

Water bill

Electricity bill

Dining out

Mortgage payment

Tags

DOK Level 1: Recall

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

$1000

$3000

$4000

$500

Tags

DOK Level 2: Skill/Concept

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula to calculate Net Pay?

Gross Pay + Deductions

Gross Pay - Deductions

Gross Pay x Deductions

Gross Pay / Deductions

Tags

DOK Level 1: Recall

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