Financial Mgmt Module 2

What is gross pay?

• The amount of money you take home after taxes

• The total amount earned before any deductions

• The amount of money taken out for taxes

• The amount of overtime pay earned

Which of the following is a mandatory payroll deduction?

• Health insurance premiums

• 401(k) contributions

• Federal income tax

• Charitable donations

If you work 35 hours in a week at $15 per hour, what is your gross pay?

• $675

• $712.50

• $742.50

• $525

Which information is NOT typically found on a paystub?

• Year-to-date earnings

• Credit score

• Deductions

• Pay period dates

How many hours per week must be worked before overtime pay applies?

• 35 hours

• 37.5 hours

• 40 hours

• 45 hours

If your hourly rate is $20 and you work 50 hours, what is your overtime pay for the extra hours?

10 hours=overtime

• $200

• $300

• $400

• $500

What is net pay?

• The amount before taxes

• The amount after all deductions

• The amount of overtime pay

• The total amount of deductions

If you earn $4,000 a month, what is your annual gross salary?

• $48,000

• $52,000

• $24,000

• $50,000

What does YTD on a paystub mean?

• Yesterday's Total Deductions

• Yearly Tax Deduction

• Year To Date

• Your Total Deposits

If you make $16 per hour and work 40 hours, what's your total gross pay?

• $672

• $688

• $696

• $640