Compensation and Benefits

The total amount you earn before any deductions

• gross pay

• overtime pay

• net pay

• salary pay

A type of leave that requires advance notice/permission from the employer and does not provide pay

• sick leave

• vacation leave

• a leave of absence

• a holiday

Overtime is calculated by multiplying the regular rate of pay by what?

• 1.25

• 1.5

• 1.75

• 2

Which payroll deduction would be mandatory?

• dental insurance

• retirement plan

• charitable donation

• Federal tax

Who contributes to Social Security taxes?

• Only the employer

• Only the employee

• Both the employer and the employee

• Neither the employer or the employee

Self-employed people must pay which tax?

• Federal tax

• Medicare tax

• Social Security tax

• Federal, Medicare, and Social Security taxes

A standard work week has how many hours?

• 36

• 38

• 40

• 42

Gross pay minus deductions

• taxable pay

• overtime pay

• net pay

• annual pay

If a salaried employee is paid every month, how many paychecks will they receive in one year?

• 26

• 24

• 20

• 12

If a salaried employee is paid every two weeks, how many paychecks will they receive in one year?

• 28

• 26

• 24

• 12