What is the primary purpose of creating a budget?

Finance Fundamentals Quiz for Year 10

Quiz
•
Financial Education
•
9th Grade
•
Hard

Richard Sims
FREE Resource
18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To track your spending habits
To ensure you spend more than you earn
To plan for future financial goals
To avoid paying taxes
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is considered a fixed expense?
Groceries
Rent
Entertainment
Clothing
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main advantage of saving money in a bank account?
It earns a high interest rate
It is easily accessible and secure
It doubles your money quickly
It avoids all taxes
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a benefit of investing in stocks?
Guaranteed returns
Potential for high returns
No risk involved
Fixed interest rate
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the potential loss of money in an investment?
Reward
Risk
Interest
Dividend
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a short-term financial goal?
Buying a house
Saving for a holiday
Retirement planning
Building an emergency fund
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is compound interest?
Interest calculated on the initial principal only
Interest calculated on both the initial principal and the accumulated interest
Interest that decreases over time
Interest that is paid monthly
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