Net Pay

The total amount you earn BEFORE any deductions are subtracted is called __________ pay.

• Bonus
• Gross
• Incentive
• Net

In most cases, the amount of "take-home pay" an employee receives is      

• equal to gross pay
• less than gross pay but more than net pay
• about 65 to 70 percent of gross pay
• equal to net pay plus overtime pay.   

Some deductions are required by law, but others are optional.

• True
• False

Which of the following is not a required deduction?

• Federal Income Tax
• Savings Deposits
• State tax
• Social security Tax

Net Pay is...

• pay you get after deductions

• pay you get before deductions

• gross pay

• regular pay + overtime pay

How many weeks are in a year?

• 26

• 4

• 12

• 52

How many months are in a year?

• 26

• 4

• 12

• 52

How many times in year will you get paid, if you are paid BIWEEKLY?

• 26

• 4

• 12

• 52

What are your total deductions, if you deductions are as follows: Federal Tax $154.53, Social Security $56.74, Medicare $14.15, and health insurance premiums $48?

• $236.47

• $198.47

• $190.80

• $273.42

Is a health insurance premium deduction a percent or flat rate?

• Percent

• Flat Rate