Financial Literacy - Income & Employment Lesson 2
Quiz
•
Other
•
11th - 12th Grade
•
Practice Problem
•
Medium
Alan Gonzales
Used 43+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Generally, the more education you receive, the higher your lifetime earnings will be.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
There is no relationship between the level of education received and lifetime earnings.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is net pay?
The amount of pay earned for the total number of hours worked.
The amount of money you're paid after all taxes and deductions are taken out of your paycheck.
The amount of money you're paid before all taxes and deductions are taken out of your paycheck.
Your gross pay plus any bonuses.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of money you're paid, after all taxes and deductions are taken out of your paycheck is called ________.
Gross pay
Net pay
Total pay
Year-to-date pay
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a possible tax or deduction that they may show up on your paycheck?
Federal income tax
Contributions to retirement savings
FICA
All of the above
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a possible tax or deduction that could show up on your paycheck?
State income tax
Contributions to retirement savings
FICA
Sales tax
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of the W-4 form?
To file your tax return.
To determine how much your gross pay should be.
To inform your employer of how much federal income tax to withhold from your paychecks.
To avoid paying income taxes on your paychecks.
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