placeholder image to represent content

FLC-Review #2

Quiz by Kimberly Wilson

Our brand new solo games combine with your quiz, on the same screen

Correct quiz answers unlock more play!

New Quizalize solo game modes
49 questions
Show answers
  • Q1
    Which of the following is considered an earned income?
    Dividends
    Bonuses
    Rents
    Interests
    30s
  • Q2
    Which of the following is NOT a tax use for the federal government?
    Protecting citizens against neighborhood crime
    Establishing national health programs
    Offering congressionally mandated programs
    Providing constitutional functions
    30s
  • Q3
    Which of the following refers to a range of incomes subject to a certain income tax rate?
    Tax breaks
    Tax withhold
    Tax brackets
    Tax exemption
    30s
  • Q4
    A couple would like file their taxes jointly and their household income is $80,000. According to the segment, what is their tax rate?
    10 percent
    24 percent
    12 percent
    22 percent
    30s
  • Q5
    Which of the following forms report an employee’s annual wages and the amount of taxes withheld form his or her paycheck?
    W-4
    W-5
    W-2
    1040-EZ
    30s
  • Q6
    Which of the following is NOT a savings on a taxpayer’s liability?
    tax deductions
    tax credits
    tax breaks
    Tax brackets
    30s
  • Q7
    Which of the following types of tax deduction allows the taxpayer to list out all of his or her expenses for the year such as property tax, medical expenses, eligible charity donations, unreimbursed business expense?
    Standard deduction
    Itemized deduction
    Charity deduction
    Medical deduction
    30s
  • Q8
    Which of the following is an amount of money a taxpayer can subtract from taxes owed to the government?
    Tax exemptions
    Tax deductions
    Tax brackets
    Tax credits
    30s
  • Q9
    Which of the following types of tax credits are items directly deducted from the tax liability until the it equals $0?
    Total refundable credits
    Nonrefundable tax credits
    Refundable tax credits
    Partially refundable credits
    30s
  • Q10
    Which of the following are the most beneficial credits?
    Refundable tax credits
    Total refundable credits
    Nonrefundable tax credits
    Partially refundable credits
    30s
  • Q11
    Financial institutions are monitored through which of the following?
    National Banking Union Administration
    National Financial Institution Agency
    Federal Reserve System
    Federal Deposit Insurance Corporation
    30s
  • Q12
    Which of the following are meant to store money which is NOT intended for daily expenses?
    Credit accounts
    Checking accounts
    Savings accounts
    Loan accounts
    30s
  • Q13
    Financial advisors typically recommend an individual has enough savings to cover at least _____________ months worth of bills.
    One to two
    Three to six
    Six to eight
    12 to 18
    30s
  • Q14
    Loans have __ interest rates and repayment periods.
    varying
    lower
    higher
    fixed
    30s
  • Q15
    An individual who hold legal control of assets in a trust account is known as which of the following?
    Claimer
    Controller
    Dependent
    Beneficiary
    30s

Teachers give this quiz to your class