Personal Finance Unit 3 Review

What does FICA represent on your paycheck?

• The amount your paid into Social Security

• The amount your employer paid into Social Security

• The amount you paid for health insurance

• The amount you paid for Federal taxes

Following a business employee for a few days to obtain information about that particular career is an example of

• Interviewing

• Volunteering

• Job Shadowing

• An internship

What does "current" mean on your paycheck?

• The date of the check

• The time period for which you were paid

• Your take home pay

• Your gross pay

People who work on commission

• Have steady, reliable incomes

• Get paid once a month

• Get paid only when they complete a sale

• Get bonuses every year.

Which of the following is NOT part of a compensation package?

• 401k matching

• Health benefits

• work from home option

• All of these are part of a compensation package

Most people feel that money is the most important reason to choose a job.

• True

• False

What does it mean if the cost of living index in your city is 120?

• It is less expensive than average to live there.

• It is more expensive than average to live there.

• Only the cost of housing is more in that city.

• The cost of housing is less expensive than average.

In-state public schools are always less expensive to attend than private universities.

• true

• false

How long should you stay at a job to show stability and reliability as an employee?

• At least a year

• At least 2 years

• At least 5 years

• It doesn't matter how long you stay if you are a good employee.

In order to be eligible for a company's 401k plan, you must work there for at least 2 years.

• True

• False