Life Skills-personal Finance
Questions that rate your preparedness for adult life.
- 1.
If your debit or credit card is lost or stolen, you are liable for the purchases made.
- A.
No, you are never liable for purchases that you don't make.
- B.
Only if they also have your PIN or personal identification number.
- C.
Yes, you are liable for all purchases made.
- D.
You are liable for up to $500 of the purchases.
Correct Answer
B. Only if they also have your PIN or personal identification number. -
- 2.
You gave the sales clerk $10.00. The bill was $6.39. How much change should you get back? (You can use scratch paper.)
- A.
$3.61
- B.
$3.67
- C.
$4.39
- D.
$4.51
Correct Answer
A. $3.61 -
- 3.
Which is expensive and not really necessary for most adults to own?
- A.
Bicycle
- B.
Car
- C.
Speedboat
- D.
Watch
Correct Answer
C. Speedboat -
- 4.
If one can of soda pop costs $0.65 but a six-pack costs $2.00, how much would you save by buying the six pack? (You can use scratch paper.)
- A.
$0.35
- B.
$0.65
- C.
$1.90
- D.
$3.90
Correct Answer
C. $1.90 -
- 5.
Which family expense is the same every month?
- A.
Entertainment
- B.
Food
- C.
Gasoline
- D.
Rent
Correct Answer
D. Rent -
- 6.
If you are several days late in paying your income tax, you must
- A.
Contact a lawyer immediately.
- B.
Go to court.
- C.
Pay a penalty.
- D.
Wait until June 15 to pay it.
Correct Answer
C. Pay a penalty. -
- 7.
If you ask someone to figure out your income tax, you must
- A.
Can get free service if you owe the government money.
- B.
Should pay the person half of your refund.
- C.
Should thank them and pay nothing.
- D.
Will pay a fee for the service.
Correct Answer
D. Will pay a fee for the service. -
- 8.
A credit union is most similar to
- A.
A bank.
- B.
A labor union.
- C.
A utility company.
- D.
An insurance company.
Correct Answer
A. A bank. -
- 9.
To have a co-signer for a loan means
- A.
A co-worker must sign the loan form with you.
- B.
Another person signs the loan and agrees to pay if you don't.
- C.
You sign the loan form twice.
- D.
Your boss must sign the loan form.
Correct Answer
B. Another person signs the loan and agrees to pay if you don't. -
- 10.
When filling out a checking account application at a bank, you must
- A.
Deposit $150 or more.
- B.
Have your employer sign for you.
- C.
Have your parents sign for you, even if you are over 18.
- D.
Sign your own name and provide identification.
Correct Answer
D. Sign your own name and provide identification. -
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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Jan 11, 2013Quiz Edited by
ProProfs Editorial Team -
Apr 21, 2010Quiz Created by
KrisBradford
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