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Dollars & Sense Trivia Questions Flashcards | StudBud
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Dollars & Sense Trivia Questions
Dollars & Sense Trivia Questions
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1
What is the main advantage of using a debit card over a credit card?
Offers more rewards
Builds credit faster
Money is taken directly from your account
Charges interest
2
What is a common method for tracking spending?
Asking friends
Guessing monthly totals
Using a budget app
Forgetting receipts
3
What is the term for money left over after paying all expenses?
Surplus
Credit
Income
Tax
4
Why is it important to comparison shop?
To spend more money
To buy everything at one store
To avoid using coupons
To save money and get better value
5
What is a budget?
A spending plan
An investment strategy
A savings account
A type of credit card
6
Which tax is taken directly from your paycheck?
Property tax
Luxury tax
Income tax
Sales tax
7
What is opportunity cost?
Cost of buying a house
Cost of making a poor choice
Cost of an opportunity
The value of the next best alternative
8
Which of the following helps build a good credit score?
Using only cash
Paying bills on time
Making late payments
Maxing out your credit card
9
What is a paycheck stub?Receipt for shopping
Document showing earnings and deductions
Tax refund
Receipt for shopping
College application
10
What is identity theft?
Using your ID to buy something
Someone stealing your personal information
Forgetting your passwords
Losing your wallet
11
Which of the following is considered a
need
?
Designer clothes
Smartphone
Streaming subscription
Groceries
12
What is an emergency fund?
Money for vacations
Investment fund
Loan for emergencies
Savings for unexpected expenses
13
Why is financial literacy important?
Helps you watch more commercials
Helps you avoid money mistakes
Helps you win the lottery
Helps you avoid budgeting
14
What type of insurance covers medical expenses?
Health insurance
Life insurance
Renters insurance
Auto insurance
15
What is a common consequence of not paying your credit card bill on time?
Discount
Interest charges
Bonus points
Higher credit limit
16
What is the purpose of a savings account?
To pay bills
To store money and earn interest
To increase spending
To earn rewards
17
What does APR stand for?
Annual Percentage Rate
Annual Price Range
Advanced Payment Ratio
Average Pay Rate
18
What does “pay yourself first” mean?
Reward yourself before others
Spend everything in one place
Pay all your bills at once
Save before spending
19
What does a credit score measure?
Your age
Your trustworthiness with credit
Your income
Number of bank accounts
20
What is impulse buying?
Budgeting before shopping
Comparing prices before buying
Buying something with a coupon
Buying without planning
21
What is the purpose of a W-2 form?
Student loan application
Report of yearly income and taxes withheld
Bank statement
Budget planner
22
What is the money you earn before taxes called?
Net Income
Gross Income
Fixed Income
Disposable Income
23
What is an example of a fixed expense?
Gasoline
Entertainment
Rent
Groceries
24
What is a consequence of having a poor credit score?
Higher loan interest rates
Lower taxes
Free credit cards
More job offers
25
Which of the following is a variable expense?
Groceries
Car payment
Internet bill
Rent
