WorksheetsIncome
Total questions: 49
Worksheet time: 49mins
The money that is put in your 401(k) by your employer (depending on how much the worker puts in) is what?
Vest
Rider
Match
Fuse
What type of life insurance covers you for your entire life?
Whole
Term
Hole
Period
The older you are when you get life insurance, the more expensive it will be.
True
False
Preexisting medical conditions are considered by life insurance companies.
True
False
If you have a term life insurance policy, you can not have a whole life insurance policy also.
True
False
A social insurance program that extends health coverage to almost all Americans age 65 and over
Income
Fixed Costs
Social Security
Medicare
A social insurance system that provides benefits to Americans who are sick, retired or disabled.
Social Security
Abilities
Medicare
Taxes
Round to the nearest cent: $2.683
$2.68
$2.69
$2.70
If you want whitening treatments for your teeth, it is covered by dental insurance.
True
False
Glasses are covered by medical insurance.
True
False
If you have a pension retirement plan, the longer you work at a job, the more you will receive each month.
True
False
Round to the nearest cent: $19.599
$19.00
$19.60
$20.00
Round $35.239 to the nearest dollar.
$35.00
$35.20
$35.24
Why was minimum wage created?
So small businesses could be successful.
To help the government.
To ensure the average worker can meet their most basic needs
To help retired couples
The abbreviation FICA on a paystub stands for Medicare and Social Security deductions.
True
False
Employers are required to offer full time employees health insurance, if they have over 50 workers.
True
False
Who pays into Social Security?
Employees
Self-employed
Employers
All of the above
Federal, Social Security, and Medicare are all types of taxes.
True
False
How many regular hours are in one work week?
45
40
35
50
Any time worked over your regular time is called ____________
overtime
after hours
extra pay
bonus pay
the amount of time over which an employee is paid
production period
income period
pay period
An employee who is paid monthly is paid _______ times a year.
12
24
6
How many times do you get paid in a year if you get paid weekly?
12
52
26
If you get paid monthly, how many times will you be paid in a year?
26
52
12
If you are paid $1,500 bi-weekly how much will you earn in a year?
$50,000
$78,000
$39,000
A ________________ is a fixed amount of money paid each pay period regardless of the amount of hours worked.
Hourly rate
Salary
Weekly wage
Medicare is a fixed 1.45% deduction for all workers.
True
False
Federal Income Tax is a fixed % deduction for all workers.
True
False
What is the federal hourly amount if you receive tips?
$2.50
$2.13
$7.25
$2.83
What type of retirement plan is sponsored by your employer, with you making contributions and the employer having the choice to contribute or not to?
401(k)
401(t)
IRA
Roth IRA
Which one of these areas is NOT addressed in the Fair Labors Standards Act?
benefit overview
overtime pay
fair pay
minimum wage
What is the hourly rate for overtime?
$2.00 more per hour than your usual rate
$1.00 more per hour than your usual rate
1.5 times your usual rate
2 times your usual rate
Jobs have to offer a retirement plan to its workers.
True
False
The amount of time that it takes your employer's contributions in your 401(k) to become yours?
Vest
Match
Lighter
Rider
What type of retirement account requires fixed contributions from your and your employer each pay period?
Roth IRA
Savings Account
401(k)
Pension
