Reading Your Paystub Quiz

Which of the following is a possible topic covered under earnings and income objectives?

• Learn about possible payroll deductions

• Learn about the structure of DNA

• Study the process of evaporation

• Understand the rules of basketball

A server in a restaurant in the United States is most likely to receive which type of compensation?

• Tips

• Salary

• Commission

• Bonus

Which of the following jobs is most likely to be paid a salary?

• Teacher

• Server

• Cashier

• Realtor

Miguel earns a salary of $72,000 a year and is paid on a semi-monthly schedule. How much does he receive per pay period?

• $3,000

• $2,000

• $6,000

• $1,500

If Hannah is paid bi-weekly from her employer, how many months in the year will she receive 3 paychecks instead of 2?

• One month

• Two months

• Three months

• Four months

If an employee is paid bi-weekly, what does this mean about the frequency of their paychecks?

• They are paid once a month

• They are paid every week

• They are paid every two weeks on the same day

• They are paid twice a month on the same two dates

What is the main difference between mandatory and voluntary deductions?

• Mandatory deductions are required by law, while voluntary deductions are chosen by the employee.

• Voluntary deductions are required by law, while mandatory deductions are optional.

• Both are required by law.

• Both are optional for the employee.

If an employee wants to increase their take-home pay, which type of deduction should they consider reducing, if possible?

• Mandatory deductions

• Voluntary deductions

• Gross pay

• Net pay

Why is it important for employees to understand the difference between gross pay and net pay?

• To know how much they will owe in taxes

• To accurately budget their take-home income and financial obligations

• To increase their gross pay

• To avoid paying any deductions

What government services are paid through FICA (taxes) specifically?

• Social Security & Medicare

• Federal Income & Corporate Assessment

• Financial Insurance & Credit Assistance

• Federal Insurance & Childcare Aid