Earned income and payroll deductions

A salaried employee who does not receive overtime is classified as which type of employee?

• Non-exempt employee

• Exempt employee

An hourly employee who does receive overtime pay is classified as which type of employee?

• Non-exempt

• Exempt

A fixed regular payment typically on a bi-weekly or monthly basis.

• Hourly

• Salary

• Commission

Which one of these is not an advantage of being a salaried employee.

• Consistent paycheck

• Overtime pay

• Flexible hours

• Not having to clock in or clock out

All of the following are mandatory deductions except for:

• Federal income tax

• Medicare

• Social Security

• Health insurance

A payroll deduction that provides federal health insurance for people 65 or older.

• Social security

• Medicare

• Federal income tax

• Life insurance

A legal procedure in which a person's earnings are required by court order to be withheld by an employer, example:  child support, defaulted student loans, credit card debt.

• Medicare

• Federal income tax

• Social security

• Garnishment

This is what employees earn before taxes, benefits and other payroll deductions are withheld from their wages.

• Gross pay

• Net pay

Your take-home pay after taxes and other payroll deductions.

• Gross pay

• Net pay

A sum of money paid to an employee upon completion of a task, usually selling a certain amount of goods or services.

• Commission

• Salary

• Hourly