fbla personal finance

fbla personal finance

Assessment

Quiz

Created by

Jazmire Ponder

Business

9th - 12th Grade

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Retirement planning should ideally begin...

a few years before retirement

when all debts are paid off

when kids go off to college

when the first paycheck is received

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The practice of pressuring consumers to buy more expensive product than what they had intended is called:

jumping prices

trading up

misrepersentation

inflating prices

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A type of financial fraudin which people pay to join an organization in exchange for the right to sell memberships to others is called a

square scheme

pyramid scheme

geometric scheme

circle scheme

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

On-the-job training is an example of:

formal education

natural education

informal education

self-education

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

If an hourly worker makes $15.00 per hour and earns time and a half for overtime, how much is the per hour pay for overtime if the employee works 40 regular hours and 6 overtime hours ?

$25.00

$22.50

$735.00

$135.00

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Taxable income is used to compute:

exemptions

capital gains

income tax

deductions

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

the purpose of is form W-4 is to...

allow the employee to participate in a tax-deferred savings plan

document a refund or figure a balance due to the IRS each year

allow the employer to withhold federal income taxes from an employee's wages

itemize how much money was earned by an employee and how much was withheld and sent to the IRS

8.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When preparing a budget, you need to focus mostly on your:

net income

gross income

disposable income

taxable income

9.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A person's ___ is a measure of the amount of money coming in versus the amount going out.

cash flow

allowance

income statement

debt ratio

10.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which one of the following would be a monthly fixed expense for budgeting purposes?

magazine subscription

electricity bill

rent

gifts

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