FHCE 3200 Quizzes 2025 Questions and Answers

FHCE 3200 Quizzes 2025 Questions
and Answers


What should you do to accumulate wealth?




A. Keep your money working for you as long as possible.

B. Accumulate a surplus

C. Begin saving the surplus or a portion of the surplus as early as possible


D. All of the above - --Answer --D. All of the above


Mia worked 45 hours this week. Her base pay is $15 per hour. She earns overtime

pay for any work over 40 hours. What is Mia's gross pay this week?




A. $845.50

B. $712.50

C. $600.50


D. $480.50 - --Answer --B. $712.50


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, which of the following describes all sources of money obtained by individuals or

households?

A. Commission

B. Income

C. Bonus


D. Wage - --Answer --B. Income


Which of the following refers to your income before any taxes are other expenses

are deducted from your paycheck?




A. Annual income

B. Salary

C. Gross income


D. Net pay - --Answer --C. Gross income


What is the recommended savings rate for individuals under the age of 30?




A. 10%

B. 20%




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