Personal Income Quiz (1)

Which of the following is NOT listed as an option to increase personal income?

• Pay increase

• Boarders

• Secondary income

• Investing in cryptocurrency

What is a potential positive impact of a pay increase?

• Less time for personal activities

• Increased stress due to responsibilities

• Ability to enjoy more expensive choices

• Higher income tax rates

What is a secondary income?

• Income from a primary job

• Income from government support

• Income from a second job or side hustle

• Income from investments

What is a potential disadvantage of having boarders?

• No need for additional expenses

• Sharing personal space with strangers

• Tax-free income

• Increased personal space

Which of the following is considered unearned income?

• Wages from overtime

• Dividends from shares

• Salary from a job

• Freelance project income

What is a potential negative impact of secondary income?

• More time for hobbies

• Higher income tax

• Increased socializing opportunities

• Less stress

What is the benefit of government financial support?

• No need to work

• Provides basic needs of life

• Guaranteed wealth

• Unlimited financial resources

What is a capital gain?

• Income from a second job

• Profit from selling an asset for more than its purchase price

• Interest earned on savings

• Dividends received from shares

What is a potential positive impact of renting out property?

• No tax obligations

• Regular income and potential capital gain

• No maintenance required

• Guaranteed tenant occupancy

What is a student loan used for?

• Paying for luxury items

• Covering course fees and living costs

• Investing in stocks

• Starting a business