Financial Literacy Quiz

Financial Literacy Quiz

11th Grade

45 Qs

quiz-placeholder

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Financial Literacy Quiz

Financial Literacy Quiz

Assessment

Quiz

Mathematics

11th Grade

Easy

Created by

JASON MCKENZIE

Used 1+ times

FREE Resource

45 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for an adjustment to income that comes after the adjusted gross income is determined?

Recordkeeping

Deduction

Overdrawn

Rebate

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of an entrepreneur?

Person who starts a business venture and assumes the risk of its success or failure

Person who provides a service to the public or a company for money

Person who keeps track of money

Person who trades items other than money

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is digital currency?

Physical product

A form of money that is exchanged online and has no physical form

Tool that makes it easier to trade one thing of value for another

Service that allows a person to direct payment from his or her bank account

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a progressive tax?

Tax that is paid out of the value of an estate before the estate is transferred to the heirs

The more a person makes, the higher the rate of taxation

Fee banks pay depositors for use of their money

Expense that qualifies as a deduction from adjusted gross income

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of a fixed expense?

Expense that stays the same each month

Amount of money paid for each hour worked

Offer to pay back a portion of the money a customer spent on an item

Penalty banks charge when overdrawn

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the fixed amount that can be claimed instead of listing individual deductions?

Commission

Standard deduction

Tax credit

Minimum wage

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for the percentage of the amount of a business transaction paid to a sales agent or broker?

Stipend

Commission

Tip

Overtime pay

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