Personal Finance Assessment

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Name: ______________________________
Date: ______________
PERSONAL FINANCE
Assessment
1. When a person is hired as a new employee in a company, he or she must correctly fill
out a __________ upon acceptance of a specific job.
a. W-2 form
c. W-4 form
b. 1040 form
d. 540 EZ form
2. It is always advisable to put a certain percentage (about 2% - 10%) of one's monthly
income into some form of…
a. savings.
c. loan.
b. credit card.
d. household expenditures.
3. Determining a monthly budget for expenditures is vital for both "real" and "virtual" world
personal finances. This budget must be based on the employee's __________ income.
a. yearly gross
c. monthly gross
b. monthly net
d. weekly gross
4. It is vital that a person records all of the checks that he or she writes in his or her check
register and __________ the register balance with his or her monthly…
a. reconcile / credit card statement.
c. figure / credit card statement.
b. add / bank statement.
d. reconcile / bank statement.
5. In order to keep one's good credit with his or her bank(s) and __________ companies, a
person's bills should not exceed his or her monthly income.
a. insurance
c. coffee
b. credit card
d. car
6. A form that employees need to fill out yearly for filing their federal income tax
information is the __________ form.
a. 1040EZ
c. 540EZ
b. 540
d. 1099
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