Personal Finance Review

Which of the following is an example of a work related expense?

• Reduced income by cutting back on work hours to attend community college

• Paying for daycare

• Switching jobs because you and your spouse moved.

• All of these

Which of the following is NOT part of employment compensation?

• 401(k)

• Health insurance

• Paid vacation

• flexible work schedule

The number one reason people choose to start their own business is because

• They don't want to work for other people

• They like making decisions

• They are self starters

• all of these

A house in a city with a cost of living index of 250 will be ___X more expensive than a house in a city with a cost of living of 100

• 1.5

• 2

• 2.5

• None, it is less expensive

In-State public universities are always less expensive than private universities

• True

• False

FICA is another way of indicating _______ on your paycheck

• Social Security tax

• Medicare Tax

• Federal income tax

• State income tax

Which of the following is a pre-tax deduction?

• Health insurance

• 401(k)

• union dues

• all of these

The Federal government mandates that hourly workers get overtime pay after ______

• 80 hours in a two week period.

• on the 6th day of work in a week.

• After 40 hours in a week

• None --they do not require companies to pay over time.

Overtime pay is usually

• 1.5 times your hourly wage

• 2 times your hourly wage

• 2.5 times your hourly wage

• Whatever your employer wants to pay

How can you pay a bill with a paper check if you don't have a checking account?

• You can't.

• You have to get a family member to write one for you.

• You can use a money order.

• None of these