Fin Lit 2 Test Review
Quiz
•
Business
•
9th - 12th Grade
•
Practice Problem
•
Medium
Laura Dario
Used 32+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A financial advisor is explaining to a client about different types of income. All of the following are examples of earned income EXCEPT:
net earnings from the client's small business
dividends from the client's stock investments
commissions from the client's property sales
wages from the client's job
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person has various sources of income. All of the following are examples of unearned income EXCEPT:
interest from a savings account
government transfer payments received
tips received from a part-time waiter job
dividends from investments
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consider a public park in your city. Which of the following is true about this public good?
people do not benefit in direct proportion to taxes paid for its maintenance
everyone in the city benefits from it
no one can be excluded from using it
all of these are characteristics of the public park
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A student is studying different types of taxes for an economics class. The term 'progressive tax' comes up. Which of the following taxes would be considered a progressive tax?
FICA
sales tax
Federal income tax
property tax
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A property owner needs to pay property tax. The amount of tax to be paid is based on the property's
market value
assessed value
original cost
none of these
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consider a scenario where you are employed at a company. Which of the following statements regarding the social security tax that you and your employer pay is correct?
Your company pays the entire amount of social security tax
Both you and your company each pay half of the social security tax
As an employee, you are not subject to pay social security tax
You pay the entire amount of social security tax
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An employee is reviewing their paycheck and notices several deductions. Which of the following is NOT an optional deduction that might appear?
health insurance
savings plan
Medicare
Life Insurance
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