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Eleventh Grade (Grade 11) Personal Finance Questions

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Grade 11 Personal Finance
Interest paid on interest previously earned.
  1. Compound Interest
  2. Simple Interest
  3. Interest Rate
  4. Savings Rate
Grade 11 Personal Finance
Occurs when money is withdrawn from a bank account and the available balance goes below zero
  1. Negative Net Worth
  2. Overdraft
  3. Reconcile
  4. Zero-Based Checking
Grade 11 Personal Finance
Bodily injury or property damage you have to cover on another person.
  1. Claim
  2. Liability
  3. Deductible
  4. Premium
  5. All of the Above
Grade 11 Personal Finance
After you write and sign your check, who can legally cash the check?
  1. you and the payee
  2. anyone in your family
  3. only the payee
  4. a friend
Grade 11 Personal Finance
Personal financial success is primarily the result of:
  1. Managing your money behavior
  2. Winning the lottery
  3. Generous welfare and unemployment programs
  4. Inheriting money from your parents
Grade 11 Personal Finance
Rent is a:
  1. Fixed expense
  2. Variable expense
  3. Discretionary expense
  4. Intermittent expense
Grade 11 Personal Finance
A yearly fee thatʹs charged by the credit card company for the convenience of the credit card.
  1. Annual Fee
  2. Annual Percentage Rate
  3. Service Charge
  4. Interest Rate
Grade 11 Personal Finance
A demand by an individual to recover losses covered by insurance.
  1. Premium
  2. Liability
  3. Claim
  4. Deductible
  5. All of the Above
Grade 11 Personal Finance
A written cash flow plan.
  1. Bank Statement
  2. Budget
  3. Check Book Register
  4. Personal finance
Grade 11 Personal Finance
Salary or wages are also known as                 .
  1. Annual Annuities
  2. Deductions
  3. Earnings
  4. Withdrawals
Grade 11 Personal Finance
What is an advantage of electronic funds transfer (EFT)?
  1. You earn more interest on an EFT account than a checking account.
  2. The number of withdrawals from an EFT account is limited so you are not tempted to impulsively use the money.
  3. This is the best way to always keep your personal and financial information secure.
  4. Your paycheck can be deposited directly to your checking account
Grade 11 Personal Finance
Expenses that remain the same from month to month
  1. Discretionary
  2. Fixed
  3. Intermittent
  4. Variable
Grade 11 Personal Finance
A credit score is intended to measure:
  1. Your financial success
  2. The risk of your not repaying debt
  3. Your income level
  4. The amount of money you have in the bank
Grade 11 Personal Finance
Which of the following statements is true about financial trouble?
  1. Financial difficulties are commonly caused by overspending
  2. You should never admit to a creditor that you cannot pay your bills
  3. If you have a high-paying job, you can afford to spend more than 20% of your net income on debt-maintenance
  4. A credit repair company can erase a poor credit history quickly
Grade 11 Personal Finance
Your monthly budget should include:
  1. Variable expenses
  2. Discretionary expenses
  3. Fixed expenses
  4. All of the above
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