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Financial Math Post Test Review

Authored by Caitlyn Bush

Mathematics

9th - 11th Grade

Used 1+ times

Financial Math Post Test Review
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24 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Our tax money is spent on all of the following EXCEPT:

Social Security

The Military

Private School Education

National Parks

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

The W-4 form lets...

the government know how much you paid in taxes last year

your employer know how much to withhold from your paycheck

the 3 major credit bureaus know how many dependents you have

you know how much you paid in taxes last year

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What statement defines gross income?

Gross income is the amount of income after taxes are paid.
Gross income is the amount of taxes paid.
Gross income is the amount of income before taxes are paid
Gross income is the amount of income of buying goods and services

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Net income is:

the total amount of money you earn

the amount of money you receive after deductions are subtracted from your gross income

the amount of money that is taken away in the form of taxes

the hourly rate of pay

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The money that goes into your pocket after taxes.

Net pay
Medicare
Social Security
Graduated income tax

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Ms. Bush works at the bakery over the summer and has a salary of $3,000. After federal / state taxes, social security, and medicare are deducted, she takes home $2,500. Which of the statements is correct?

Her gross pay is $2,500 and net pay is $3,000.

Her gross and net pay are $3,000.

Her gross and net pay are $2,500.

Her gross pay is $3,000 and net pay is $2,500.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The main purpose of a W2 is

To accept a new job

To figure out your tax refund

To state your salary

To tell your employers how much taxes to take out of your check

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