Financial Literacy Quiz

Question 1

Nellie earns $12 per hour. Her gross pay for 37 hours is:

Accepted Answer

$444.00

Question 2

Gas is an example of a:

Accepted Answer

Variable expense

Question 3

A dependent relies on another for:

Accepted Answer

Financial support

Question 4

Earned income includes money from:

Accepted Answer

Working at the mall

Question 5

John lives in NC, single, and earns more than $5,500 per year. He should us the ___ form to file his state income taxes.

Accepted Answer

D-400

Question 6

A dependent lives by themselves and pays all their own bills without help.

Accepted Answer

False

Question 7

John gets $.10 per widget he makes. He makes 75 widgets per hour. His gross pay for 8 hours is:

Accepted Answer

$60.00

Question 8

A fixed amount paid for each item produced is:

Accepted Answer

Piece rate pay

Question 9

Christina's hourly rate is $8.50. Her gross pay for 48 hours would be:

Accepted Answer

$442.00

Question 10

Sara's lunch was $11.78. Her balance before lunch was $391.12. What was it after lunch?

Accepted Answer

379.34

Question 11

Which is not funded by taxes?

Accepted Answer

Fast food restaurant

Question 12

How much should Sandy save monthly for skiing if she wants to save $200 in 4 months?

Accepted Answer

$50 a month

Question 13

Pay for work beyond 40 hours is called:

Accepted Answer

Overtime pay

Question 14

The federal program that assists older Americans with insurance and income is called?

Accepted Answer

FICA

Question 15

Which of the following is one of the steps in creating a budget?

Accepted Answer

Record expenses

Question 16

Taxes are feeds that the government requires people to pay in order to live and work in their state and the USA.

Accepted Answer

True

Question 17

When you get a job, you will be required to complete a ___form, prior to starting work.

Accepted Answer

W-4

Question 18

What is an example of a short term goal?

Accepted Answer

Saving for 2 months

Question 19

What type of account allows deposits and withdrawals for monthly income and expenses?

Accepted Answer

Checking Account

Questions 19