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Indiana Department of Financial Institutions

DFI > Education > Education Information > Consumer Credit Education > Quizzes > Money Responsibility Quiz Money Responsibility Quiz

1. If I overspend my allowance, I can expect my parents to give me more money.

True

False

2. It is easier to return an item to the store if I have the sales receipt.

True

False

3. Writing down my expenses helps me know my spending balance.

True

False

4. It is OK to buy everything I want.

True

False

5. I need to be sure my allowance money lasts for an entire week.

True

False

6. Which of the following can be used to keep expense records organized:

Envelopes

File Folders

Shoe boxes

All of the above

7. I should keep sales receipts:

Until I leave the store

Until I get home

Until I enter it on my expense log

As long as I need proof of purchase

8. Which of the following is a responsible spending practice?

Spending more money than I have planned

Buying an item that looks good to me, even if I do not need it

Buying an item that is included in my spending plan

Always shopping at the most expensive stores

9. If you don’t get a receipt, you should:

write the amount down before you leave the store

wait until you get home to write the amount down

guess what you spent at the end of the week

ignore the cost of the item

10. Keeping records:

helps me know what I spend

helps me stay within my spending plan

makes me more responsible

All of the above

MONEY RESPONSIBILITY QUIZ ANSWERS

  1. False
  2. True
  3. False
  4. False
  5. True
  6. All of the above
  7. As long as I need proof of purchase
  8. Buying an item that is included in my spending plan
  9. write the amount down before you leave the store
  10. All of the above