Personal Finance: Chapter Four Online Pre-Test

Working 15 hours a week would be considered

• full-time employment

• part-time employment

Tags

PF.EI.2.2.B

PF.EI.2.3.A

Working 40 hours a week would be considered

• full time employment

• part time employment

Tags

PF.EI.2.2.B

PF.EI.2.3.A

Minimum Wage is the ____________ rate per hour that a worker may be paid, as required by law.

• top

• average

• highest

• lowest

Tags

PF.EI.2.2.B

PF.EI.2.3.A

What is a check stub?

• What you give to the bank to deposit.

• The part of a paycheck that lists deductions from your salary

• It is an envelope.

Tags

PF.EI.2.2.B

PF.EI.2.3.A

What does the term "withholding" mean in reference to your paycheck?

• it is the amount of your paycheck that you are NOT being taxed on

• it is how much is being taken out of your paycheck in taxes

• it is how much you are going to owe the government when you file your annual tax return

• it is how much you earn and includes salary, bonus and commissions

Tags

PF.EI.2.2.B

PF.EI.2.3.A

Identify all of the required/mandatory deductions?

• 401K

• Federal income tax

• Social Security tax

• Medicare tax

Tags

PF.EI.2.2.B

PF.EI.2.3.A

Social security and Medicare fall under 

• FICA 
• State 
• Federal 
• 401K

Tags

PF.EI.2.2.B

PF.EI.2.3.A

True or False: Social Security helps provide retirement income for the elderly and pays disability benefits.

• True 
• False 

Tags

PF.EI.2.2.B

PF.EI.2.3.A

Which of the following describe what a "dependent" is for tax purposes?

• Someone you financially support

• Someone who is temporarily disabled

• Someone who financially supports you

• Someone who is a full-time student under the age of 30

Tags

PF.EI.2.2.B

PF.EI.2.3.A

Mrs. Bowman can claim her cat as a dependent on her taxes.

• True

• False

Tags

PF.EI.2.2.B

PF.EI.2.3.A