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Financial Literacy Chapter 2 Vocabulary

Total questions: 19

Worksheet time: 10mins

Name
Class
Date
1.

Total amount you earn before deductions

a)

Net Pay

b)

Pay Check

c)

Bring Home Pay

d)

Gross Pay

2.

A fixed hourly rate earned by employees

a)

Net Pay

b)

Gross Pay

c)

Wage

d)

Overtime

3.

Time worked beyond your regular hours

a)

Overtime

b)

Extra time

c)

Too much time

d)

Earned extra pay

4.

Fixed annual amount of gross pay

a)

Overtime

b)

Net Pay

c)

Salary

d)

Gross Pay

5.

The amount in your paycheck after all deductions have been taken out

a)

Gross Pay

b)

Net Pay

c)

Overtime Pay

d)

Special Pay

6.

Forms of employer compensation in addition to pay

a)

Extra money

b)

Monopoly money

c)

Benefits

d)

Vested pay

7.

When an employee is entitled to the full retirement amount after a specified period of employment time.

a)

Stock options

b)

Full time bonus

c)

Inventory pay

d)

Vested

8.

Form of compensation that encourages employees to strive for higher levels of performance

a)

Salary

b)

Gross Pay

c)

Insurance options

d)

Incentive pay

9.

Plan that allows employee to share a portion of the company's profits at the end of the corporate year.

a)

Profit sharing

b)

Meal ticket

c)

Vested

d)

Benefits

10.

Incentive pay based on quality of work done, years of service, or a company's sales and profits

a)

Salary

b)

Bonus

c)

Expense account

d)

Medical reimbursement

11.

Work model that allows employees to work offsite and remain in contact with their employers through the use of technology

a)

Work rotation

b)

Job sharing

c)

Telecommuting

d)

Telekinesis

12.

Work schedule that allows employees to choose their working hours within a defined time limit.

a)

Job rotation

b)

Telecommuting

c)

Job sharing

d)

Flextime

13.

A work schedule that fits the normal 40 hour work week into less than five days

a)

Job scrunching

b)

Job shortening

c)

Job rotation

d)

Compressed workweek

14.

A job design where employees are trained to do more than one specialized task

a)

Telecommuting

b)

Job rotation

c)

Job sharing

d)

Job swapping

15.

Two people share the same full time position with split salary and benefits

a)

Job hopping

b)

Job control

c)

Job rotation

d)

Job sharing

16.

A group of people who work in the same or similar occupations organized to benefit the employees in that occupation

a)

Union

b)

Service organization

c)

Vested enterprize

d)

Job Sharing

17.

The process of negotiating an employment contract for union members

a)

Union representative

b)

Bargaining

c)

Seniority

d)

Closing arguments

18.

The length of time a person has held a job

a)

Time freeze

b)

Yearly countdown

c)

Seniority

d)

Senorita

19.

Organized activity by paid activists to influence public officials to pass laws and make decisions that benefit a profession

a)

Hotel lobby

b)

Labor union

c)

Lobbying

d)

Politician bargaining