Financial Literacy Review

Expenses

100

Which of the following is considered a fixed expense?

a. rent

b. groceries

c. birthday gifts

d. gas

a. rent

200

What is an example of a variable expense?

a. rent

b. car payment

c. electric bill

d. internet bill

c. electric bill

300

What type of expenses do NOT change from month to month?

Fixed Expenses

Calculating Profit

100

What is the formula for calculating profit?

Income - Expenses = Profit

200

Zia is selling friendship bracelets at school. She spent $5.93 on the materials and made $34.72 selling them. What is her profit?

$28.79

300

The local bakery spent $15.22 on supplies and made a profit of $45.27 in one week. What was the income for that week?

$60.49

Spend, Save, Share and Financial Inst.

100

What is the best place to store your money?

a. Checking account

b. high interest savings account

c. piggybank

d. under your mattress

b. high interest savings account

200

Name two reasons to save your money.

:)

300

Which of the following can a bank do?

a. give out loans

b. give away your money

c. tell you how to spend your money

d. steal it 

a. give out loans

Review

100

After school Mia spent time for herself

- 20 minutes reading

- 38 minute nap

- 27 minute shower

If she started at 7:30 PM, what time was she done?

8:55PM

200

What is the area of a rectangle that is 42 ft by 19ft long?

798 square feet

300

I pulled the following coins out of my pocket.

- 5 dimes

- 7 quarters

- 3 nickels

How much money do I have?

$2.40