Financial Math Final Exam

Which of these is a true statement?

• Planning for long-term goals is not as important as determining daily expenses.
• Personal ambitions and goals need to align with the financial prospects of a chosen career.
• Financial security is always more important than career interest and satisfaction.
• Daily living expenses must be met before you can plan long-term goals.

Which of the following is true of college?

• College costs money, but community college and trade schools are free.
• College is the only way to get ahead in life.
• College may help you fulfill your personal and career goals.
• Attending college is a guarantee of personal happiness.

What is one difference between a Bachelor's degree and an Associate's degree?

• an Associate's degree is usually free
• a Bachelor's degree requires more time and credits
• an Associate's degree is only offered for business subjects
• a Bachelor's degree is not useful for the sciences

Which of the following benefits has the potential to earn you the most money?

• 401k or other retirement program
• child care benefits
• free lunch program
• two weeks paid vacation time

Which of these is a form of earning?

• wages
• theft
• a lottery win
• an inheritance

Which of the following benefits has the potential to earn you the most money?

• 401k or other retirement program
• child care benefits
• free lunch program
• two weeks paid vacation time

Which employee benefits are not required by law?

• family leave
• minimum wage
• wellness
• unemployment

Which of the following terms describes the amount of pay an employee receives after deductions have been subtracted?

• Overtime Pay
• Gross Pay
• Net Pay
• Regular Pay

Which type of tax helps to pay for retirement income for adults 62 and older?

• Medicare Tax
• Social Security Tax
• Federal Income Tax
• State Income Tax

Noah earns $13.50 per hour and works 20 hours per week. What is his gross pay each week?

• $1.48
• $200.00
• $250.00
• $270.00