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Financial Literacy-your paycheck

Authored by Myra Bemis

Mathematics

7th Grade

CCSS covered

Used 3+ times

Financial Literacy-your paycheck
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17 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 6 pts

FICA stands for

Financial Institutions cause anxiety

Federal Insurance Contributions Act

First Inside Can Act

Finally I Can Answer

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

2.

MULTIPLE CHOICE QUESTION

5 mins • 6 pts

Gross pay

Before taxes

After taxes

Before deposit

After withdrawal

Tags

CCSS.6.NS.B.3

3.

MULTIPLE CHOICE QUESTION

5 mins • 6 pts

What percentage of FICA is Social Security tax?

12.65

1.45

2.6

6.2

Tags

CCSS.6.RP.A.3C

4.

MULTIPLE CHOICE QUESTION

5 mins • 6 pts

What percentage of FICA is Medicare tax?

1.45

2.6

6.2

.006

Tags

CCSS.6.RP.A.3C

5.

MULTIPLE CHOICE QUESTION

5 mins • 6 pts

Federal income tax pays for all of the following except:

Emergency disaster relief

Interest on the national debt

Defense

Individual Retirement Accounts

6.

MULTIPLE CHOICE QUESTION

5 mins • 6 pts

Which tax provides medical benefits to people age 65 or older?

HSA

Social Security

Medicare

Income tax

7.

MULTIPLE CHOICE QUESTION

5 mins • 6 pts

How many paychecks do you get yearly if you are paid bi-weekly?

24

26

12

52

Tags

CCSS.6.RP.A.3B

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