The total money one gets to “take home” from a paycheck after taxes and deductions are taken out is known as what?
Alabama Financial Literacy Test

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Financial Education
•
9th Grade
•
Hard
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50 questions
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1.
FLASHCARD QUESTION
Front
Back
Net pay
2.
FLASHCARD QUESTION
Front
Which of the following is the form employers use to determine how much tax to deduct from a paycheck? W-2, W-4, I-9, W-9
Back
W-4
3.
FLASHCARD QUESTION
Front
Which of the following is the form an employer provides to an employee to inform them of how much money was deducted from paychecks in a given year? W-4, I-9, W-2, W-9
Back
W-2
4.
FLASHCARD QUESTION
Front
Which of the following statements best describes gross pay? Amount of money one receives from insurance after an illness or accident, Amount of money one receives from their job before taxes or other deductions are taken out, Amount of money one receives from their job after taxes or other deductions are taken out, Amount of money one earns from their job by overtime, bonuses, and reimbursements
Back
Amount of money one receives from their job before taxes or other deductions are taken out
5.
FLASHCARD QUESTION
Front
Which of the following will be paid for as part of the escrow funds included in a mortgage loan? Car insurance, Principal on home loan, Property tax, Home warranty
Back
Property tax
6.
FLASHCARD QUESTION
Front
When seeking to open a bank account, which of the following is needed? Blank checks, Government-issued identification, Recommendation letter, School transcript
Back
Government-issued identification
7.
FLASHCARD QUESTION
Front
When one is seeking to purchase a product at a store, what additional cost must be paid in addition to the listed price of the product?
Back
Sales tax
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