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WorksheetsPaycheck Test
Total questions: 25
Worksheet time: 23mins
Name
Class
Date
1.
The employee knows exactly which day his/her paycheck will be deposited into their depository institution account.
a)
Paycheck with attached paycheck stub
b)
Direct Deposit
c)
Payroll Card
2.
This payment method is the most common.
a)
Payroll Card
b)
Paycheck with payheck stub
c)
Direct Deposit
3.
There may be numerous fees associate with this payment method.
a)
Direct Deposit
b)
Payroll Card
c)
Paycheck with attached pay stub
4.
__________________ is a federal act that protects payroll card holders.
a)
Tax Act
b)
Regulation E
c)
Tax Regulation
d)
Regulation B
5.
_____________ are compulsory charges imposed on citizens by local, state and federal government.
a)
Payroll
b)
Taxes
c)
Gross Pay
6.
Federal taxes are collected by the _____________ a government agency.
a)
Tax Regulators
b)
Internal Revenue Service
c)
The Fed
d)
Congress
7.
The tax includes two separate taxes: Social Security and Medicare.
a)
Gross Pay
b)
FICA
c)
Deductions
d)
Tax
8.
The amount required by law for employers to withhold from earned wage to pay taxes.
a)
State Withholding Tax
b)
Deductions
c)
Federal Withholding Tax
d)
Net Tax
9.
How long is Wendall's pay period?
a)
1 week
b)
1 Month
c)
2 Weeks
10.
The length of time for which an employee's wages are calculated.
a)
Pay Day
b)
Year-to-date
c)
Payment Schedule
d)
Pay Period
11.
How much has Wendall paid in FICA since she has been working for Megga Spartan Tech Inc.?
a)
$116
b)
$496
c)
$612
d)
$1493.19
12.
What percentage of Wendall's year-to-date gross pay is was paid to year-to-date deductions?
a)
32.7%
b)
75.35%
c)
27.69%
d)
24.65%
13.
Based on the handout what is Jane's hourly rate?
a)
$15.00
b)
$15.15
c)
$15.19
d)
$15.20
14.
Based on the handout: How many non-taxable deductions are taken out of Jane's paychecks?
a)
0
b)
3
c)
5
d)
8
15.
Based on the Handout: What is the end date of the pay period?
a)
Mar 21, 2017
b)
Mar 26, 2017
16.
The total amount of money earned during the pay period before deductions.
a)
Take Home pay
b)
Net Pay
c)
Gross Pay
d)
FICA
17.
The amount of money left after all deductions have been taken from the gross pay earned in a pay period.
a)
Gross Pay
b)
Commission
c)
Pay Rate
d)
Net Pay
18.
Net Pay = Gross Pay - Deductions
a)
True
b)
False
19.
Based on the handout: What percentage of Jane's year-to-date gross pay has she paid in year-to-date federal income taxes?
a)
6.4%
b)
6.8%
c)
7.8%
d)
8.7%
20.
Based the on the handout: What percentage of Jane's gross pay is her Medicare tax?
a)
10.31%
b)
1.82%
c)
1.43%
d)
.45%
21.
Unbanked payroll card holders benefit by not having to pay ________________ fees each pay period.
a)
check cashing
b)
bounced check
c)
ATM
d)
payroll
22.
Based on the handout: How much will Jane pay in FICA this period?
a)
$97.75
b)
$123.49
c)
$61.62
d)
$94.67
23.
Based on the handout: How much did Jane make in overtime this period?
a)
$34.18
b)
$22.79
c)
$1.50
d)
She didn't work any overtime.
24.
Based on the handout: What percentage of gross pay is Jane's net pay?
a)
7.84%
b)
78.4%
c)
8.78%
d)
87.8%
25.
To find salaried employee's gross pay per period, you must multiply the hours worked by the pay rate.
a)
True
b)
False
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