Understanding Pay Quiz

What is a pay period?

• the number of days an employee works and is paid for a paycheck

• A period of time in which an employee is given a bonus

What is gross pay?

• The amount of pay earned before any deductions are made

• The amount of money subtracted from a worker's pay

Which is an optional deduction on your paycheck?

• healthcare

• taxes

• FICA

• Social Security

Multiplying a worker's hourly wage amount and hours worked per pay period equals?

• salary

• gross pay

• net pay

A fixed amount of money paid per year to do a job is known as what?

• salary

• Overtime pay

• hourly rate

• deduction

Which of these is the amount of money that remains after taxes have been deducted that a person can save or spend as he or she wishes?

• taxes

• deduction

• disposable income

Match the following

• explain how much money you earned

• Overtime

• is the time worked beyond your regular hours

• deduction

• pay before deductions

• Gross Pay

• the amount of money taken out of your pay

• Net Pay

• pay after deductions

• pay stub

One mandatory deduction is ​​ (a)   .

• FICA
• 401k
• healthcare
• braces