Login
Plans
FAQ
- Forums
Other Links
Algo Strategy

Login
Plans
FAQ
- Forums
Other Links
Algo Strategy

Budgeting and Expense Management Quiz

29 Nov

Budgeting and Expense Management Quiz

in

Time limit: 0

Quiz Summary

0 of 7 Questions completed

Questions:

Information

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Quiz complete. Results are being recorded.

Results

0 of 7 Questions answered correctly

Your time:

Time has elapsed

You have reached 0 of 0 point(s), (0)

Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)

Categories

Matrix / Mix+Match 0%
Multiple Choice 0%
Open Ended Question 0%
Sorting / Ranking 0%
True and False 0%

Review
Answered
Correct
Incorrect

Question 1 of 7

1. Question
1 point(s)

What is the primary purpose of budgeting?

Identifying sources of income
Correct Incorrect Correct answer

Allocating income to different expense categories
Correct Incorrect Correct answer

Tracking financial goals
Correct Incorrect Correct answer

Planning for retirement
Correct Incorrect Correct answer

Correct

Incorrect
Question 2 of 7

2. Question
1 point(s)

The envelope method requires handling physical cash for different expense categories.

True
Correct Incorrect Correct answer

False
Correct Incorrect Correct answer

Correct

Incorrect

Question 3 of 7

3. Question

3 point(s)

Match the budgeting methods with their respective descriptions.

Sort elements

Divides your after-tax income into three categories
Requires assigning every dollar of income to a specific expense, savings, or debt repayment category
Involves allocating cash for different expense categories and placing the money in physical envelopes.

50-30-20 Rule

Correct Incorrect Correct answer

Zero-Based Budgeting

Correct Incorrect Correct answer

Envelope Method

Correct Incorrect Correct answer

Correct

Incorrect

Question 4 of 7

4. Question
1 point(s)

Arrange the following steps in the logical order to create and maintain a successful budget: Adjusting Budget Categories, Tracking Income and Expenses, Reviewing and Updating Regularly.

answer is Correct is the Correct Answer answer is Incorrect

answer is Correct is the Correct Answer answer is Incorrect

answer is Correct is the Correct Answer answer is Incorrect

View Answers:

Correct

Incorrect
Question 5 of 7

5. Question
1 point(s)

Zero-Based Budgeting aims to have zero dollars left unallocated at the end of the budgeting period.

True
Correct Incorrect Correct answer

False
Correct Incorrect Correct answer

Correct

Incorrect
Question 6 of 7

6. Question
1 point(s)

Which of the following is NOT a tip mentioned for adjusting budget categories?

Creating separate categories for variable expenses
Correct Incorrect Correct answer

Reallocating funds between categories
Correct Incorrect Correct answer

Ignoring irregular expenses
Correct Incorrect Correct answer

Evaluating spending habits
Correct Incorrect Correct answer

Correct

Incorrect
Question 7 of 7

7. Question
1 point(s)

Reflect on the budgeting method you find most appealing and explain why it would suit your financial circumstances.

This response will be awarded full points automatically, but it will be reviewed and possibly adjusted after submission.

Grading can be reviewed and adjusted.

Grading can be reviewed and adjusted.

Type your Message

X

Welcome to

×