Quiz – Income Foundations Explained

Question 1 of 6

1. Question

How does the capsule define gross income?

Your total earnings before any deductions

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The money left after taxes and insurance

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Only your savings account balance

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The interest your bank pays you

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Question 2 of 6

2. Question

Which income figure do lenders and financial institutions ask for?

Gross income, not net

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Net income only

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Your monthly savings

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Your total spending

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Question 3 of 6

3. Question

How does a freelancer calculate gross income?

By adding all client payments received

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By subtracting expenses from a fixed salary

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By counting only the largest single invoice

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By taking their bank balance at year end

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Question 4 of 6

4. Question

If your annual salary is 40,000, what does that figure represent?

Your gross income

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Your net take-home pay

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Your disposable savings

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Your total tax bill

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Question 5 of 6

5. Question

Match each income source to its example.

Sort elements

Earnings from a full-time job
Payments received from clients
Money from renting out property
Gains produced by investments

Salary

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Freelance income

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Rental income

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Investment returns

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Question 6 of 6

6. Question

Sofia works full-time earning 3,000 dollars per month and also freelances on weekends for about 600 dollars. A lender asks for her income. Which figure best represents her gross monthly income?

3,600 dollars, all earnings before deductions

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3,000 dollars, only her salary

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Her take-home pay after taxes

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600 dollars, only her freelance work

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