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Eleventh Grade (Grade 11) Personal Finance Questions

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Grade 11 Personal Finance
Income taxes assessed to a citizen by a state taxing authority agency.
  1. Federal Taxes
  2. State Taxes
  3. Social Security
  4. 401K Savings
  5. FICA
Grade 11 Personal Finance
A(n)                    is a debt evidenced by a "note" which specifies the principal amount, interest rate an date of repayment.
  1. Consumer
  2. Credit
  3. Debt
  4. Economy
  5. Financial Literacy
  6. Interest
  7. Loan
  8. Personal Finance
Grade 11 Personal Finance
The most risky investment is the stock market.
  1. True
  2. False
Grade 11 Personal Finance
                   is the knowledge and skillset necessary to be an informed consumer and manage finances effectively.
  1. Consumer
  2. Credit
  3. Debt
  4. Economy
  5. Financial Literacy
  6. Interest
  7. Loan
  8. Personal Finance
Grade 11 Personal Finance
The amount of pay you take home after deductions is called:
  1. gross pay
  2. net pay
  3. pay period
  4. wage deductions
Grade 11 Personal Finance
A common advantage of using credit is:
  1. Less impulse buying
  2. Lower cost for items purchased
  3. Ability to obtain items now
  4. Lower chance of overspending
Grade 11 Personal Finance
A decrease or loss in value.
  1. Depreciation
  2. Inflation
  3. Deflation
  4. Exclamation
Grade 11 Personal Finance
Eating out is a:
  1. Fixed expense
  2. Variable expense
  3. Discretionary expense
  4. Intermittent expense
Grade 11 Personal Finance
Which of these is not a source of income?
  1. allowance
  2. salary
  3. interest
  4. savings
Grade 11 Personal Finance
Percentage paid to a lender for the use of borrowed money, or the percentage earned on invested principal.
  1. Interest
  2. Interest Rate
  3. Savings Rate
  4. Time Value of money
Grade 11 Personal Finance
The best option if you want zero risk and to earn income on your investment.
  1. Blue Chip Stock
  2. Bonds
  3. Income Stock
  4. Certificate of Deposit
  5. Regular Savings Account
Grade 11 Personal Finance
Three types of money include:
  1. cash, check, and receipt
  2. check, IOU, and money order
  3. invoice, receipt, and cash
  4. credit cards, cash, and check
Grade 11 Personal Finance
To match your bank statement with your checkbook.
  1. balanced checking
  2. cash flow plan
  3. reconcile
  4. unnecessary
Grade 11 Personal Finance
What factors affect a credit score?
  1. Type of debt
  2. New debt
  3. Duration of debt
  4. All of the above
Grade 11 Personal Finance
Which of the following is a major factor in helping you achieve your financial goals?
  1. your job choice
  2. the amount of overtime you work
  3. a fancy car
  4. where you live
Grade 11 Personal Finance
Which of these is a responsible spending practice?
  1. spending more money than I have planned
  2. buying an item that I like
  3. buying an item that is included in my budget
  4. always shopping at expensive stores
Grade 11 Personal Finance
Why is having a fully funded emergency fund so important when it comes to your financial well-being?
  1. As long as you have a good-paying job, you really donʹt need an emergency fund.
  2. The purpose of an emergency fund is to set money aside for unexpected financial emergencies and to provide a sense of financial security.
  3. The purpose of an emergency fund is to have money set aside for large purchases, like vacations.
  4. None of the above
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