What is the main difference between a salary and an hourly wage?
Personal Finance PRE-TEST

Quiz
•
Life Skills
•
6th - 8th Grade
•
Medium
Bryan Chaffin
Used 1+ times
FREE Resource
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
Salary workers are paid based on hours worked, while hourly workers get a fixed amount per year
Hourly workers are paid for each hour worked, while salary workers earn a fixed amount annually
Salary workers earn more than hourly workers
Hourly workers get more benefits than salary workers
2.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
What type of tax is deducted from your paycheck to fund Social Security and Medicare?
Income tax
Property tax
Payroll tax
Sales tax
3.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
Which of the following is an example of passive income?
Working part-time at a store
Investing in rental properties
Babysitting on weekends
Driving for a rideshare service
4.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
What does the 50-30-20 rule recommend?
50% Savings, 30% Fun, 20% Bills
50% Needs, 30% Wants, 20% Savings
50% Wants, 30% Needs, 20% Debt Payments
50% Bills, 30% Investments, 20% Fun
5.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
Fixed expenses are costs that:
Change every month
Stay the same each month
Are optional and can be cut from a budget
Only apply to businesses
6.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
Which of the following is an example of a variable expense?
Rent
Car payment
Groceries
Internet bill
7.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
What is the purpose of an emergency fund?
To pay for everyday expenses
To cover unexpected expenses like medical bills or car repairs
To invest in stocks
To buy luxury items
Create a free account and access millions of resources
Similar Resources on Quizizz
21 questions
Everfi Financial Literacy Modules 1-4

Quiz
•
6th - 8th Grade
20 questions
Bank Accounts

Quiz
•
8th Grade
20 questions
7th Grade Financial Literacy (m)

Quiz
•
7th Grade
20 questions
Payroll Taxes and Credit

Quiz
•
8th - 12th Grade
20 questions
Future SMART Unit Quiz 8th

Quiz
•
6th - 8th Grade
22 questions
Paycheck Final Test

Quiz
•
8th - 10th Grade
25 questions
L3 Personal Finance - Recap

Quiz
•
8th - 9th Grade
20 questions
Study Guide- Finance Park Vocab Quiz

Quiz
•
7th - 8th Grade
Popular Resources on Quizizz
15 questions
Multiplication Facts

Quiz
•
4th Grade
25 questions
SS Combined Advisory Quiz

Quiz
•
6th - 8th Grade
40 questions
Week 4 Student In Class Practice Set

Quiz
•
9th - 12th Grade
40 questions
SOL: ILE DNA Tech, Gen, Evol 2025

Quiz
•
9th - 12th Grade
20 questions
NC Universities (R2H)

Quiz
•
9th - 12th Grade
15 questions
June Review Quiz

Quiz
•
Professional Development
20 questions
Congruent and Similar Triangles

Quiz
•
8th Grade
25 questions
Triangle Inequalities

Quiz
•
10th - 12th Grade
Discover more resources for Life Skills
25 questions
SS Combined Advisory Quiz

Quiz
•
6th - 8th Grade
20 questions
Congruent and Similar Triangles

Quiz
•
8th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
6 questions
Earth's energy budget and the greenhouse effect

Lesson
•
6th - 8th Grade
15 questions
SMART Goals

Quiz
•
8th - 12th Grade
36 questions
SEA 7th Grade Week 3 Review FINAL 2025

Quiz
•
7th Grade
20 questions
Multiplying and Dividing Integers

Quiz
•
7th Grade
15 questions
Fast food

Quiz
•
7th Grade