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Topic Review: Personal Financial Literacy

Quiz by Texas Education Agency

Grade 5
Mathematics
Texas Essential Knowledge and Skills (TEKS)

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Measures 4 skills from
Grade 5
Mathematics
Texas Essential Knowledge and Skills (TEKS)

5.10.A: Personal Financial Literacy
5.10.B: Personal Financial Literacy
5.10.E: Personal Financial Literacy
5.10.F: Personal Financial Literacy

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7 questions
Show answers
  • Q1
    Ms. Parvin pays a tax every year because she owns a house. Which term best describes this tax?
    Sales tax
    Income tax
    Payroll tax
    Property tax
    60s
    5.10.A: Personal Financial Literacy
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    Delete
  • Q2
    Which of these statements about gross income and net income is true?
    Gross income is a tax paid by an employer based on a worker’s wages, and net income is a tax on all income that a person earns.
    Gross income is the amount an employee is paid after deductions and taxes, and net income is the total amount an employee earns before deductions are applied.
    Gross income is a tax on all income that a worker earns, and net income is a tax paid by an employer based on a worker’s wages.
    Gross income is the total amount an employee earns before deductions are applied, and net income is the amount an employee is paid after deductions and taxes.
    60s
    5.10.B: Personal Financial Literacy
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    Delete
  • Q3
    This month Mando’s expenses are greater than his income. What are two actions Mando can take in order to balance his budget?
    Increase expenses and increase income
    Decrease expenses and decrease income
    Decrease expenses and increase income
    Increase expenses and decrease income
    60s
    5.10.E: Personal Financial Literacy
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    Delete
  • Q4
    Ms. Vonn’s monthly budget is shown in the chart. She receives two paychecks per month. Ms. Vonn’s budget is balanced every month. How much is Ms. Vonn’s monthly car payment?
    Question Image
    $2,100
    $300
    $2,400
    $500
    60s
    5.10.F: Personal Financial Literacy
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    Delete
  • Q5
    A definition of a financial term is shown in the box. Which term best fits this definition?
    Question Image
    Sales tax
    Payroll tax
    Property tax
    Gasoline tax
    60s
    5.10.A: Personal Financial Literacy
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    Delete
  • Q6
    So far this month Nancy has the expenses and income shown in the chart. Nancy wants to buy some music online but also have a balanced budget. Based on Nancy’s current budget, what is the greatest amount of money she can spend on music?
    Question Image
    $5
    $10
    $35
    $140
    60s
    5.10.F: Personal Financial Literacy
    Edit
    Delete
  • Q7
    A definition of a financial term is shown in the box. Which term best fits this definition?
    Question Image
    Sales tax
    Payroll tax
    Property tax
    Income tax
    60s
    5.10.A: Personal Financial Literacy
    Edit
    Delete

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