PF281- Income/Career Review

If I am paid on a bimonthly basis, how may paychecks do I receive over the course of a year?

• 12

• 24

• 26

• 52

If I am paid on a weekly basis, how many paychecks do I receive per year?

• 12

• 24

• 26

• 52

Your income before taxes/deductions is...

• Net Pay

• Gross Pay

• Even Pay

• Odd Pay

Which of the following is a required deduction

• Life Insurance

• Health Insurance

• 401k/403b

• Social Security

What is the percent used for Medicare deductions from your paycheck?

• 1.45%

• 6.2%

• 15%

• 25%

What is 1.45% written in decimal form?

• 1.45

• .145

• .0145

• .00145

T or F. Every state has a state income tax.

• True

• False

T or F. Every state has the same minimum wage law.

• True

• False

Income earned from investment interest (ex. dividends from a stock) is known as

• Earned Income

• Unearned income

• Variable Income

• Gross Income

Which of the following is an example of a perk?

• Company car

• Free gym membership

• Tuition reimbursement

• All of the above