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Financial Literacy Midterm

Authored by Robin Duncan

Mathematics

11th Grade

CCSS covered

Used 2+ times

Financial Literacy Midterm
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37 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Last month, Jorge was paid a total of $9,000, which included a bonus of $1,500. What is Jorge's gross bimonthly pay during a month when a bonus is not paid?

$7,500
$5,250
$9,000
$3,750

Tags

CCSS.7.EE.B.3

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

A greater withholding allowance results in ________________.

a larger amount of take-home pay
a smaller amount of take-home pay
more taxable income
less taxable income

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Jeffery worked 48 hours this week. His regular hourly wage is $18.50. For every hour each week he works over 40, he is paid 1.5 times his regular hourly wage. What is Jeffery's gross pay for this week?

$962
$1,332
$888
$1,850

Tags

CCSS.7.EE.B.3

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

If taxes due are greater than the taxes withheld, then _____________________.

money is refunded
money is owed
you should make up more donations
you should get a rapid refund

Tags

CCSS.6.NS.C.7C

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Leona is a real estate agent who earns straight commission based on the homes that she sells. Last month, she sold four homes with sales prices of $144,000, $177,000, $152,000, $193,000. She earned a 3% commission on each sale. What was Leona's total commission?

$199.80
$1,998
$19,980
$199,800

Tags

CCSS.6.RP.A.3C

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Bartering is trading one thing of value for another.

True
False

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Workers who are paid a salary are paid by the hour.

True
False

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