Understanding Paychecks and Deductions Quiz

What is money that is taken out of your paycheck for taxes or benefits called?

• Overtime

• Deduction

• Net pay

• Gross pay

If you are paid based on the sales you make, this is called earning a what?

• Gross pay

• Deduction

• Commission

• Overtime

The amount you actually take home after all deductions is your what?

• Gross pay

• Net pay

• Overtime

• Commission

Which of these is NOT typically a benefit offered by employers?

• Health insurance

• Paid time off

• Free groceries

• Retirement plans

Why is it important to understand deductions on your paycheck?

• To know how much you will actually take home

• To increase your gross pay

• To avoid working overtime

• To get more commission

Which of the following best describes commission?

• Extra pay for working more hours

• Money earned based on sales made

• Money taken out for taxes

• The total amount before deductions

Why might someone receive overtime pay?

• For working fewer hours than scheduled

• For working more hours than scheduled

• For taking time off

• For receiving a bonus

If you receive your paycheck directly into your bank account, this is called:

• Bonus

• Direct deposit

• Deduction

• Overtime

Which word describes the amount of money taken out of your pay for things like taxes and insurance?

• Bonus

• Deduction

• Commission

• Net pay

What is the amount of money you actually take home after taxes and deductions?

• Gross pay

• Net pay

• Overtime

• Bonus