FA Retirement and Unemployment Benefits

FA Retirement and Unemployment Benefits

9th - 12th Grade

10 Qs

quiz-placeholder

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FA Retirement and Unemployment Benefits

FA Retirement and Unemployment Benefits

Assessment

Quiz

Mathematics

9th - 12th Grade

Hard

Created by

Amy Koenigsmark

Used 2+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Liz works at Food For Thought magazine. Her employer offers her a pension. Liz’s employer uses a formula to calculate the pension. Retiring employees receive 2.1% of their average salary over the last four years of employment for every year worked. Liz is planning on retiring at the end of this year after, 20 years of employment. Her salaries for the last four years are $66,000; $66,000; $73,000; and $75,000. Calculate Liz’s annual pension.

$25,000

$29,400

$20,500

$22,500

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

As part of their employee benefits, all workers at Light and Power Electric Company receive a pension that is calculated by multiplying the number of years worked times 1.875% of the average of their three highest years’ salaries. Mia has worked for LPEC for 30 years and is retiring. Her highest salaries were $92,000, $94,800, and $96,250. Calculate Mia’s pension.

$53,071.88

$55,678.90

$54,765.10

$47,450

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

In Ben’s state, the weekly unemployment compensation is 55% of the 26-week average for the two highest-salaried quarters. A quarter is three consecutive months. For July, August, and September, Ben earned a total of $22,400. In October, November, and December, he earned a total of $22,800. Determine Ben’s weekly unemployment compensation.

$1738.46

$975.20

$1178

$956.15

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Carol's weekly unemployment compensation is 45% percent of the 26-week average for the two highest salaried quarters. For January, February, and March, Carol earned $12,450. In April, May, and June, she earned $11,550. Calculate Carol’s weekly unemployment compensation.

$415.38

$923.08

$1200

$567.80

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Eddie is a plant manager at North Salem Construction Company. He has been employed there for 25 years and will be retiring at the end of this year. His pension is calculated on the average of his last four years’ salaries. In those years, he earned $82,000, $96,000, $105,000,

and $109,000. His employer will give him 1.4% of that average for each year he worked. Calculate Eddie’s pension.

$37,900

$35,600

$33,720

$34,300

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

As part of their employee benefits, all workers at Middletown Electronics receive a pension that is calculated by multiplying the number of years worked times 1.6% of the average of their three highest years’ salary. Maureen has worked for Middletown for 30 years and is retiring. Her highest salaries are $97,000, $97,800, and $98,198. Calculate Maureen’s pension.

$45,765.90

$46,879.68

$48,999.20

$44,322.15

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

In Rodger’s state, unemployment compensation is calculated by finding the total of the quarterly wages of two consecutive quarters and dividing by 26. The weekly unemployment is 55% of that amount. In the quarter of January, February, and March, Rodger made a total of $13,950.80. In the quarter of April, May, and June, he made a total of $14,250.10. Find Rodger’s weekly unemployment amount.

$555.55

$595.67

$596.56

$582.30

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