Finance - Income and Benefits Quiz

A fixed amount that you get paid

• interest

• wage

• salary

• saving

The hourly rate that you get paid

• wage

• income

• salary

• register

The amount you earn before any deductions are subtracted is called _____________________________.

• Gross Pay

• Net Pay

• Pay stub

• Taxes

Which of the following is NOT an optional deduction from your pay?

• Medicare tax

• Life insurance

• Health insurance

• Savings play

The amount of earnings after all deductions have been made are called _____________________________.

• Gross Pay

• Net Pay

• Pay stub

• Taxes

Tips are subject to state and federal taxes.

• True

• False

Which of the following is a NOT a benefit?

• Vacation time

• Holiday Pay

• Salary

• Sick Leave

Benefits should be considered as:

• free things you are entitle to.

• part of the total salary package.

• perks of the company which you get to select from.

• perks which you have to pay towards.

All retirement accounts are paid for by the employer.

• True

• False

If an employer has a "matching" program for your 401(k) that means:

• They will match your saving contributions in your stock options.

• They match your salary to those in comparable companies.

• They will put money into your retirement account up to a certain amount to match what you put into it.

• They will match the amount of stocks you buy in the company which you plan to put towards retirement.