Personal Finance: Budget Quiz

Personal Finance: Budget Quiz

12th Grade

40 Qs

quiz-placeholder

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Personal Finance: Budget Quiz

Personal Finance: Budget Quiz

Assessment

Quiz

Mathematics

12th Grade

Practice Problem

Easy

CCSS
7.RP.A.3, 6.RP.A.3C, 8.EE.C.7B

+8

Standards-aligned

Created by

Shradha Shah

Used 3+ times

FREE Resource

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40 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a budget?

A list of things you want to buy

A spending plan outlining income, expenses, and financial goals

A loan from the bank

A savings account

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the main purpose of a budget?

To increase debt

To help take control of money and achieve financial goals

To spend as much as possible

To avoid tracking expenses

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT a reason why budgeting is important?

Helps you understand your relationship with money

Ensures you never spend money

Helps save for the future

Reduces financial stress

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the first step in creating a budget?

Spending all your income

Ignoring expenses

Outlining your income

Taking out a loan

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an example of a fixed expense?

Groceries

Rent

Eating at a restaurant

Buying clothes

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is an example of a variable expense?

Mortgage payments

Grocery Bills

Utility bills

Insurance premiums

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is one of the first decisions to make when buying a car?

What type of fuel the car uses

What type of car best fits your needs

Which dealership has the best deals

How quickly you can pay off the loan

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