Earnings Unit Pretest

The most secure method for an employer to pay employees is to use:

• payroll card

• direct deposit

• printed paycheck

• in-store credit

Gross income - deductions =

• Social Security

• Medicare

• Employee benefits

• Net income

Miranda is working to develop a broad base of transferable skills. This means that she:

• Needs to maintain at least a part time job during the school year

• Use her available hours outside of school for paid employment rather than volunteering

• Will not have as much time to develop her human capital

• Will have a set of versatile skills that she can apply to many personal and professional roles

An example of a transferable skill is a skill:

• Used in your job that you acquired through past jobs, volunteering hobbies, school sports, or other life experiences

• That can only be used in an individual's job or career

• That each employer requires you to learn

• That is learned at one job and is required at other jobs as well

Lora is a high school computer and technology teacher. She enrolls in a computer class at least twice per year to stay current on recent technology changes and updates. By continuing her education, Lora is investing in her:

• Salary

• Family

• Human Capital

• Interest Inventory

Shannon is reviewing her pay stub to determine how much money she earned before her deductions were subtracted. Which column should she check to find this amount?

• Net income

• Hours and earnings

• Employer contributions

• Gross Income

The average cost of basic necessities, such as housing and food for a particular city is called the:

• Standard of Living

• Lifestyle

• Cost of Living

• Economy of Living

Steven is considering taking a job with a company that is offering gym memberships, flexible hours, repayment of education loans, merchandise discounts, and childcare. These components of the job offer are called:

• Job perks

• Employee benefits

• Work incentives

• Competitive hiring practices

The regular schedule that employers pay their employees is called the

• Pay Period

• Worker's compensation

• Employee Benefits

• Employer contributions

Susan is currently working in Kansas City, MO earning $30,000 per year. She is offered a position in Indianapolis, IN earning $32,000 per year. Susan earns enough to cover expenses in KC and have money left over; if she moved to Indianapolis her income would need to increase by $4000 to cover living expenses. Which statement is true?

• Susan will have more spending power if she moves to Indianapolis

• Susan will have more spending power if she stays in Kansas City

• Susan will have the same spending power in Indianapolis as she has in Kansas City

• Susan should take the job opportunity and worry about money later