Remote Learning Wrap-up

Which of the following are mandatory deductions from your paychecks when you are a full-time employee working for a company that pays you a legitimate wage?

• Social Security

• Income Tax

• Medicare Tax

• All of the answers are mandatory deductions

Which of the following paycheck deductions will provide you with an income once you retire?

• Income Tax

• Social Security

• Medicare

• None of the answers provide for retirement

Which of the following paycheck deductions will eventually provide you with health insurance once you have retired from your job

• Income Tax

• Social Security

• Medicare

• None of the answers provide for health insurance

Which of the following is NOT an example of earned income

• Wages and Salaries

• Tips

• Savings Account Interest

• Commission from a sale

A worker who earns a wage cannot be paid overtime and earns a fixed amount of money per year

• True

• False

Which of the following is NOT considered a standard holiday that all employees must either be given off or paid extra for working on that day

• Christmas Day

• New Years Day

• Memorial Day

• Labor Day

• 4th of July (Independence day)

Gym memberships, On-site childcare, Employee Discounts and Wellness programs are considered . . .

• Perks

• Benefits

• Incentives

When it comes right down to it, if your employer pays for your health insurance it is considered a . . .

• Perk

• Benefit

• Incentive

All 50 states in the United States have the same exact minimum wage as Nebraska (9.00 p/hour)

• True

• False

An employee whose pay depends on how much he sells is earning a __________________. For instance, a real estate agent gets a 6% commission on the selling price of a house.

• Salary

• Wage

• Tip

• Commission