| Question 1 | 10 / 10 points |
There is often more than one way to do math.
Question options:
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| True | ||
|
| False | ||
| Question 2 | 10 / 10 points | ||
Which of the following is an example of budgeting?
Question options:
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| Deciding to go to a cheaper restaurant rather than an expensive one | ||
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| Giving yourself a certain spending limit per month | ||
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| Calculating monthly expenses for rent, utilities and car payments before going on a trip | ||
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| All of the above are examples of budgeting | ||
| Question 3 | 10 / 10 points | ||
Which of the following is an example of flexible spending?
Question options:
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| Tuition |
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| Utilities |
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| Cell phone bill |
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| Entertainment |
| 5-1-2 | |
| Question 4 | 10 / 10 points |
Using approximations for everyday purchases to make it easier on yourself is known as _____________.
Question options:
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| Creating a list | ||
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| Guesstimation | ||
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| Estimation | ||
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| Lying | ||
| Question 5 | 10 / 10 points | ||
Which of the following percentages correctly matches the main financial buckets used in the 50/20/30 guideline:
Question options:
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| Financial Goals; 50% | ||
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| Flexible Spending; 30% | ||
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| Flexible Spending; 20% | ||
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| Fixed Cost; 20% | ||
| Question 6 | 10 / 10 points | ||
Suppose you are going grocery shopping and have a budget of $50 for the week allocated to food. You buy a box of cereal for $3.00, a carton of milk for $2.50, a bag of lettuce for $4.00, 5 bananas for $2.00, a package of tomatoes for $4.00, a package of chicken for $10.20, a bag of rice for $5.49, a box of granola bars for $5.12, a loaf of bread for $3.30, a jar of peanut butter for $4.00 and a box of cookies for $4.30. Determine whether or not you followed your budget and by how much.
Question options:
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| Under budget by $2.09 | ||
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| Over budget by $2.09 | ||
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| Under budget by $47.91 | ||
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| Under budget by $6.09 | ||
| Question 7 | 10 / 10 points | ||
Suppose that during this week you have spent $25.61 on gas for your car, $92.46 on groceries, $43.78 on a birthday gift for a friend and $19.33 on a new pair of pants. Round each purchase and create an estimate for your weekly expenses. Which of the following best reflects your estimated total weekly expenses?
Question options:
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| $180 | ||
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| $200 | ||
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| $220 | ||
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| $100 | ||
| Question 8 | 10 / 10 points | ||
Which of the following options is NOT a fixed cost?
Question options:
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| Rent payment | ||
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| Cell phone bill | ||
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| Grocery bill | ||
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| Car payments | ||
| Question 9 | 10 / 10 points | ||
When setting a budget, you should use the 50/20/30 rule.
Question options:
|
| True | ||
|
| False | ||
| Question 10 | 10 / 10 points | ||
Any number you multiply by 1 is itself.
Question options:
|
| True |
|
| False |
