PFL: Unit 1-4 Review

Define a fixed income.

• the same each time you receive it

• different each time you receive it

Define a variable income.

• The same each time you receive it.

• Different each time you receive it.

A job is_______

• often paid at an hourly rate.

• an occupational plan of steps an choices that provide a salary & benefits.

A career is

• often paid an hourly rate.

• an occupational plan of steps and choices that provide a salary and benefits.

Why is it important to live with your means?

Gross income includes

• total earnings from employment

• take home pay after taxes

Net income is

• take home pay

• total earnings from employment

Choose all the examples of withholdings

• dental insurance

• medicare tax

• retirement plan

• state taxes

Choose two examples of a non-depository institution?

• banks

• insurance companies

• savings and loans

• mortage companies

A non-depository institution is a company that provides a financial service but does not accept ________.