4th Grade Review Personal Financial Literacy

Question 1

Which of these is a fixed expense?

Accepted Answer

membership at the country club

Question 2

A financial plan that helps you determine how to save and spend your money is called a _______.

Accepted Answer

budget

Question 3

Which of these is a variable expense?

Accepted Answer

electric bill

Question 4

The amount of money made after all the expenses are paid is called ______________.

Accepted Answer

profit

Question 5

______________ are expenses that change from month to month and do not stay the same.

Accepted Answer

variable expenses

Question 6

A place that helps us safely store, organize, and manage our money is called a _______________.

Accepted Answer

financial institution

Question 7

Which of these is a fixed expense?

Accepted Answer

Rent

Question 8

Which of these would NOT happen at a bank?

Accepted Answer

pay taxes

Question 9

Why might I visit a financial institution?

Accepted Answer

apply for a loan

Question 10

Money paid to buy the things you need and want is called ___________.

Accepted Answer

spending

Question 11

______________ are expenses that stay the same every month and do not change.

Accepted Answer

fixed expenses

Question 12

Which of these is a fixed expense?

Accepted Answer

health insurance

Question 13

Which of these is a variable expense?

Accepted Answer

tickets to a play

Question 14

________ is the amount of money you earn every month by doing a job or receiving allowance.

Accepted Answer

income

Question 15

Money put aside to use at a later time is called _____________.

Accepted Answer

saving

Questions 15