Paycheck Quiz

The actual amount of money you "take home" is

• Gross Pay

• Never Enough

• Net Pay

• Payroll Income

Federal Government programs and services are supported through?

• Retirement Savings

• Payroll Deductions

• Federal Income Tax

• State Income Tax

Your net income is the money/amount deposited in your bank account.

• TRUE

• FALSE

___________ Goes into a federal program that provides financial support for people who are retired.

• Benefits

• Insurance

• Social Security Tax

• All of The Above

Employees have deductions taken out of their paychecks. Identify which are considered required by the government.

• State Income Tax

• Federal Income Tax

• Dental Insurance

• Social Security

Mya's net pay is $525/week. Her gross is $700. How much money is deducted from her paycheck each week?

• $525

• $125

• $175

• Nothing

Sam's deductions add up to $112 a week. If her net pay is $425 a week, what is her gross pay?

• $112

• $313

• $425

• $537

Ruth earns $13.25/hour. She works 40 hours/week. $90.72 is deducted each week. What’s her net pay?

• $439.28

• $530

• $493.43

• $90.72

When making a budget, what figure should you use to predict how much money you have to spend?

• gross pay

• taxes

• benefits

• net pay

What percentage of Jose’s current pay goes to state income taxes?

• 8.9%

• 2%

• 2.6%

• 8%