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Business, Professional Development, Life Skills
6th -
12thgrade
Personal Finance Quiz 4 - LifeSmarts
16 questions
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- 1. Multiple Choice
True or False: One benefit to correctly filling out your W-4 form is not having to pay more in taxes at the end of the year.
True
False
- 2. Multiple Choice
What Department of Labor division administers the federal garnishment statutes?
Fair Wages Enforcement
Labor and Trade
Wage and Hour Division
Benefits and Review Board
- 3. Multiple Choice
The highest number of self-employed professionals work in what career field?
Construction and Trades
Pastors/Clergy
Small Business Owners
Physicians in Private Practice
- 4. Multiple Choice
If your employer offers a 401(k) plan, do you have to make contributions?
Yes
No
- 5. Multiple Choice
What is compound interest?
Interest accumulated daily.
Interest doubled.
Interest tripled.
Interest paid on both the principal and accumulated interest.
- 6. Multiple Choice
Who decides how much an employee will invest in a 401(k) offered by an employer?
The employee
The employer
- 7. Multiple Choice
You have a 401(k) at work. If you contribute to it, your employer will as well. The dollars contributed by your employer are called what?
Investor Contribution
The Employer Match
Contributions Plus
Matching Interest
- 8. Multiple Choice
If your employer offers a retirement plan, can you also open an IRA on your own?
Yes
No
- 9. Multiple Choice
True or False: A pension is a retirement plan that requires an employer to make contributions to a pool of funds set aside for a worker's future benefit.
True
False
- 10. Multiple Choice
If you begin collecting Social Security benefits before you reach full retirement age, what will happen to your benefits?
They will temporarily be reduced.
They will stay the same.
They will be permanently reduced.
You will be penalized by 15%.
- 11. Multiple Choice
To legally force a tenant to vacate a rental unit before the lease has expired is called what?
Poor Management
Unlawful
Eviction
Rental Application
- 12. Multiple Choice
People who rent property from someone else are known as what?
Leasers
Owners
Tenants
Occupants
- 13. Multiple Choice
When speaking of mortgage loan options, what does ARM stand for?
Allowed Required Mortgage
Adjustable Required Money
Allotted Radical Money
Adjustable Rate Mortgage
- 14. Multiple Choice
PITI is an acronym for the four components of a mortgage loan. What does the P stand for?
Payee
Property
Principle
Pirate Money
- 15. Multiple Choice
Why might a potential landlord ask to see a pay stub, a W-2, or bank statements?
Proof of education.
To cal your boss to ask if you are a good employee.
It is required for liability.
Proof of income and affordability of rent.
- 16. Multiple Choice
What is it called when a renter pays a sum of money, often one month’s rent, to the landlord before moving into a rental unit?
Renter's Insurance
Security Deposit
Damage Fees
Security Rentals
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