Financial Literacy Pre-test
Things you own:
5 points
The amount you have left after you have paid all taxes:
5 points
The value of your assets is greater than the value of your liabilities:
5 points
Debts you owe:
5 points
The amount you are paid before taxes are taken away:
5 points
Earnings are calculated on the original amount plus accumulated interest. The principal increases each year based on the interest earned.
5 points
The value of your liabilities is greater than the value of your assets.
5 points
The value of assets minus liabilities.
5 points
Earnings are paid on a fixed amount of money, or principal.
5 points
Katie's gross monthly salary is \$3,800. 22% of her income is set aside for income taxes. Katie saves 8% of her salary. After taxes and savings, how much does Katie have to spend each month?
5 points
Jill's annual salary us \$39,600. She has learned that rent should be at most a third of her income. What is the maximum amount Jill should pay for her rent each month?
5 points
Ginnie's net monthly income is \$4,200. 10% of her income goes to savings. She spends \$1,200 per month on rent, \$280 per month on groceries, \$250 for her car payment, and \$210 per month on gasoline and car maintenance. What percent of her budget does she spend on gasoline and car maintenance?
5 points
Houston's annual salary is \$89,616. He falls in the 35% tax bracket. what is his net monthly salary?
5 points
Beckett owns a car worth \$5,900 and owes \$2,800 on the car loan. He has \$1,600 in his bank account and \$5,120 in a savings account. He has a balance of \$11,400 on his credit card. What is his net worth?
5 points
Sarah's total assets are \$8,794. Her liabilities are \$2,670 in credit card debt and \$3,622 for a student loan. Vicki's assets are \$6,255.85. Her total liabilities are \$2,970.63. Who has the greater net worth and what is it?
5 points
Courtney deposited \$300 in her savings account that earns 2% interest compound annually. She makes no additional deposits and no withdrawals. How much money will be in the account after 2 years?
5 points
The Braxdale Family has the family net worth statement. What is the family's net worth? *
5 points
Carmelo puts \$2,200 into a savings bonds that pay a simple interest rate of 3%. How much money will the bonds be worth at the end of 6 years?
5 points