PF- Crognale Income/Benefits Review

True or False. Gross pay in the money you make after all deductions are taken out.

• True

• False

Which of the following deductions is required by law?

• Health Insurance

• Federal Taxes

• State Taxes

• Retirement

How many hours is the standard work week?

• 25

• 30

• 35

• 40

Any work completed beyond 40 hours is usually considered overtime. You would multiply your hourly wage by ___ to calculate money earned.

• 1.0x

• 1.25x

• 1.5x

• 2x

Which of the following is a benefit often received by full-time workers?

• Health insurance program

• Sick leave

• Paid time off

• All of the above

What is the Social Security tax percentage?

• 6.2%

• 6.5%

• 7.2%

• 7.5%

What is the Medicare tax percentage?

• 1.25%

• 1.35%

• 1.45%

• 1.55%

If you are paid bimonthly, you receive

• A paycheck 1x per month

• A paycheck 2x per month

• A paycheck 3x per month

• A paycheck 4x per month