
Personal Finance - Test 1
Quiz
•
Life Skills
•
10th - 12th Grade
•
Medium
Amy Pierson
Used 49+ times
FREE Resource
Enhance your content in a minute
11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Net income is the amount of money earned before deductions.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Your employer pays you in cash and does not deduct any taxes. Which of the following applies?
You will not need to pay taxes.
It is illegal for you to receive cash payment. You and your employer will be fined if this practice is discovered.
Your employer is doing you a favor. You will earn more money.
You will need to pay the taxes yourself since your employer is not withholding them from your pay.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Your employer has withheld $24.18 from your paycheck for Social Security & Medicare. How much will your employer pay for Social Security and Medicare (employer's share only) ?
24.18
12.09
48.36
Employers are not required to match the employee's share of these taxes.
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Required paycheck deductions. Check all that apply.
Social Security
Medicare
Federal Income tax
Life Insurance
Workers Compensation
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which deductions are optional, OR are not an employee deduction but the responsibility of the employer?
Social Security
Medicare
Federal Income tax
Life Insurance
Workers Compensation
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Price of money
interest
principal
mutual fund
bond
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which will probably result in the largest return (largest amount of interest earned)?
Invest as long as possible at the highest interest rate as possible.
Invest a small amount, for a short period of time, at the highest rate possible.
Invest a large principal amount. Make no additional investments.
Invest at a high interest rate. Interest is the only factor that affects return.
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
15 questions
Credit Vocabulary
Quiz
•
10th - 12th Grade
13 questions
Financial Literacy Banking
Quiz
•
12th Grade
15 questions
Credit and Loans
Quiz
•
9th - 12th Grade
15 questions
ANS1- 1.01
Quiz
•
9th - 12th Grade
10 questions
W!SE Review - Payment Types
Quiz
•
11th - 12th Grade
15 questions
Starting a business
Quiz
•
9th - 12th Grade
15 questions
Paradigms and Principles
Quiz
•
7th - 12th Grade
13 questions
Auto Insurance
Quiz
•
10th - 12th Grade
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade
20 questions
Figurative Language Review
Quiz
•
6th Grade
Discover more resources for Life Skills
20 questions
Investing
Quiz
•
9th - 12th Grade
20 questions
Career
Quiz
•
9th - 12th Grade
20 questions
Paying for College
Quiz
•
9th - 12th Grade
20 questions
Types of Credit
Quiz
•
9th - 12th Grade
20 questions
Budgeting
Quiz
•
9th - 12th Grade
20 questions
Insurance
Quiz
•
9th - 12th Grade
20 questions
Managing Credit
Quiz
•
9th - 12th Grade
7 questions
Personal Finance - Financial Literacy Unit
Lesson
•
9th - 12th Grade
