Unit 4 Employment, Income, and Forms Vocabulary Quiz

Which of the following best defines "Soft Skills"?

• Specific abilities obtained through formal education and training experiences.

• A set of versatile abilities and aptitudes that are transferrable to any job.

• Money withheld from an employee's total earnings by their employer.

• A tax form that reports an employee's total annual salary or wages.

What are "Hard Skills"?

• Personal attributes that enable someone to interact effectively with others.

• A method where funds are electronically transferred into a payee's bank account.

• Specific skills obtained through formal education, training, and experiences.

• Products or services that add value for an employee beyond the wages earned.

What is the definition of "Income"?

• The total amount of money earned after all taxes and deductions are taken out.

• Any form of money, property, or services that you earn or receive from any source.

• A payroll tax that pays for healthcare for people who are over the age of 65.

• A set amount of money an individual earns for work completed on a regular basis.

What is "Gross Pay"?

• The total amount of money earned before taxes and deductions are taken out.

• The final amount of money an employee receives after all deductions are made.

• A form used by employees to tell their employer how much tax to withhold.

• A federal and state program that provides assistance to eligible unemployed workers.

Which of the following describes "Net Pay"?

• A set amount of money earned per pay period, usually described as a yearly amount.

• The total amount of money earned before any deductions are taken out of a paycheck.

• A payroll tax that pays benefits for people who have retired or are disabled.

• The total amount of money earned after taxes and deductions are taken out.

What is "FICA"?

• A form of insurance providing benefits to employees injured as a result of their job.

• A payroll tax on the employee and employer to pay for Social Security and Medicare.

• A document detailing how an employee's total pay and deductions were calculated.

• Someone who works on a short-term basis, often to cover for an absent employee.

What is a "W-4 Form"?

• A form that employers must send to employees each year reporting annual wages.

• A tax form used to file a person’s individual taxes with the IRS.

• A form that requires an employer to verify an employee’s identity and right to work.

• A tax form telling your employer how much federal income tax to withhold.

What is the "Gig Economy"?

• A workforce environment where short-term engagements and temporary contracts are common.

• An employment status where someone works full time and receives a salary and benefits.

• An employee who is not on a company's payroll and does not receive benefits.

• An employment status for someone who typically works less than 30 hours per week.

Which of the following best describes a "Salary"?

• A specific wage rate that is based on each hour an employee has worked.

• A set amount of money earned per pay period, usually described as a yearly amount.

• The total amount of money earned by an employee before any taxes are taken out.

• Money that is withheld from an employee's total earnings by their employer.

What are "Employee Benefits"?

• A payroll tax that pays for health care for people who are over the age of 65.

• A payroll tax that pays for people who have retired or are currently disabled.

• Products or services that add value for an employee beyond the wages they have earned.

• A document that shows an employee's gross pay, deductions, and resulting net pay.