Financial Vocabulary Quiz

English Words - Financial

Financial Vocabulary Quiz

Congratulations - you have completed Financial Vocabulary Quiz.

You scored %%SCORE%% out of %%TOTAL%%.

Your performance has been rated as %%RATING%%


Your answers are highlighted below.
Question 1
It took us 30 years to pay off the ___________ on our house.
A
mortgage
B
pension
C
fee
Question 1 Explanation: 
mortgage = money borrowed for buying a property
Question 2
____________ help pay for public roads, schools, and hospitals.
A
Mortgages
B
Pensions
C
Taxes
Question 2 Explanation: 
taxes (n.) = money collected by the government for the maintenance of public services. Taxes are applied to both individuals and companies.
Question 3
Applicants to many colleges and universities in the United States have to pay an application ____________. This helps pay for the administrative processing of the documents.
A
tax
B
fee
C
wage
Question 3 Explanation: 
fee (n.) = a payment required for some services
Question 4
I _________ my friend $500. I borrowed the money last month for an emergency.
A
pay
B
owe
C
afford
Question 4 Explanation: 
owe (v.) = to have an obligation to pay back money borrowed.
Question 5
After decades of financial struggles, the company finally went _______________.
A
annual
B
debt
C
bankrupt
Question 5 Explanation: 
bankrupt (adj.) = unable to meet financial obligations. Both people and companies can "go bankrupt."
Question 6
In restaurants in New York City, it's common to leave a 20% _____________ for good service.
A
fee
B
tip
C
wage
Question 6 Explanation: 
tip (n.) = extra money given as thanks for a service. "Tip" can be a verb or a noun ("leave a tip"). In the U.S., it's common to tip waiters/waitresses, taxi drivers, hairstylists, food delivery people, hotel bellhops (the person who carries your bags), hotel room service, and furniture delivery.
Question 7
The __________ of the average American family has risen thanks to the widespread use of credit cards rather than cash to make purchases.
A
gross income
B
wage
C
debt
Question 7 Explanation: 
debt = money owed to the lender
Question 8
That dentist is so expensive - he _____________ me $400 for a simple cleaning!
A
owed
B
afforded
C
charged
Question 8 Explanation: 
charge (v.) = ask for payment for a product or service.
Question 9
The company's managers receive an ______________ bonus equal to 50% of their normal monthly salary.
A
annual
B
owed
C
affordable
Question 9 Explanation: 
annual (adj.) = once per year.
Question 10
I'd like to buy a house, but I can't ______________ it on my teacher's salary.
A
afford
B
tip
C
default
Question 10 Explanation: 
afford (v.) = to have enough money to do something or to buy something.
Question 11
When he _____________ on his payments, the bank took his car.
A
defaulted
B
afforded
C
charged
Question 11 Explanation: 
default (v.) = fail to meet financial obligations
Question 12
Most countries have laws establishing a minimum ______________ for low-level jobs.
A
wage
B
mortgage
C
tax
Question 12 Explanation: 
wage (n.) = salary
Question 13
Paying the balance on your card every month helps you get a good _________________.
A
credit rating
B
tax
C
net income
Question 13 Explanation: 
credit rating = the evaluation of a person's credit risk based on their history of paying off debts
Question 14
Our _______________ is $36,000/year, but after taxes we only take home about $24,000.
A
net income
B
gross income
C
credit rating
Question 14 Explanation: 
Gross income (n.) = salary before taxes. Net income (n.) = salary after the taxes and other contributions to the government are removed.
Question 15
My grandfather receives a _______________ every month because he served in the military for 30 years.
A
pension
B
net income
C
tip
Question 15 Explanation: 
pension (n.) = a fixed salary paid to retired people, helping them survive in their old age without having to work.
Once you are finished, click the button below. Any items you have not completed will be marked incorrect. Get Results
There are 15 questions to complete.

 

Want to increase your vocabulary
& improve your fluency?

English Vocabulary Course

Learn more about the Vocabulary Builder Course