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WorksheetsNEFE Test
Total questions: 10
Worksheet time: 10mins
Which answer is an accurate definition for delayed gratification?
When one saves money to buy a great thing.
When one foregoes something now for another thing of greater value, later.
When it takes a long time to get what you want and it feels really good when you finally get it.
all of the above
What is net income?
Wages earned before taxes
Three taxes that everyone must pay
How much a person is worth in total
Wages earned after taxes
What is gross income?
Wages earned before taxes
Three taxes that everyone must pay
How much a person is worth in total
Wages earned after taxes
What are the three taxes that everyone must pay?
Federal, State and County
Federal, Sales and Medicaid
Federal, Social Security, Medicare
State, Social Security and Sales
What is Medicare tax for?
It funds health insurance for Americans in retirement
It funds Medicaid
It funds health insurance for all Americans now
It funds health insurance for those who can't afford it under the Affordable Healthcare Act
What is another name for federal tax?
Income Tax
FICA
Answer options 1 and 2
State tax
How long should an intermediate financial goal take to achieve?
1 day - 3 months
3 - 6 months
6 - 18 months
3 - 12 months
What is federal tax used for?
It is used to fund federal infrastructure and programs
It provides income to Americans in retirement
It is used to fund state infrastructure and programs
It funds health insurance to Americans in retirement
How long should a long-term financial goal take to achieve?
1 - 3 years
3 - 6 months
6 - 18 months
3 - 12 months
What is social security tax used for?
It is used to fund federal infrastructure and programs
It funds health insurance to Americans now
It provides income to Americans in retirement
It funds health insurance to Americans in retirement
