WorksheetsPersonal Finance Ch 6 Pay, Benefits, & Working Conditions
Total questions: 27
Worksheet time: 14mins
Name
Class
Date
1.
Flextime is another word for permanent part-time employment.
a)
True
b)
False
2.
Federal tax is an optional deduction from your paycheck.
a)
True
b)
False
3.
Labor unions and professional organizations are the same thing.
a)
True
b)
False
4.
Annual salary refers to the amount of pay to be received each month.
a)
True
b)
False
5.
Social security tax is an example of a required deduction from your paycheck.
a)
True
b)
False
6.
Some companies will allow a leave of absence to employees who want to complete their education.
a)
True
b)
False
7.
Cafeteria-style benefits allow workers to base their job benefits on personal needs.
a)
True
b)
False
8.
Overtime wages are usually calculated at twice the regular hourly rate.
a)
True
b)
False
9.
Although some workers do not belong to unions, it is generally true that they benefit because of the existence of unions.
a)
True
b)
False
10.
The amount left after all deductions have been subtracted from gross pay is known as net pay.
a)
True
b)
False
11.
Self-employed people do not have to pay social security and Medicare taxes.
a)
True
b)
False
12.
Regular wages or salary plus overtime wages equals gross pay.
a)
True
b)
False
13.
Your written consent must be obtained for deductions, both required and optional, to be withheld from your paycheck.
a)
True
b)
False
14.
A typical health insurance plan has an employer-paid amount called a deductible.
a)
True
b)
False
15.
Job rotation maximizes opportunities for employee skill development.
a)
True
b)
False
16.
An explanation of pay computations and deductions must be provided with each paycheck.
a)
True
b)
False
17.
A stock purchase option is not considered an incentive to improve performance.
a)
True
b)
False
18.
A standard workweek is 40 hours in a five-day period of 8 hours each day.
a)
True
b)
False
19.
Which of the following is not a type of retirement plan?
a)
pension
b)
401(k)
c)
bonus
d)
403(b)
20.
The American Dental Association is an example of which of the following?
a)
a labor union
b)
a management group
c)
a professional organization
d)
a mediator
21.
Which is not a major function of labor unions?
a)
recruit new members
b)
oversee collective bargaining
c)
provide support services for members
d)
administer exams and accreditations
22.
When employers and union officials cannot agree on the terms of a new labor contract, the result is often ____
a)
a violation
b)
a strike
c)
overtime
d)
extra pay
23.
Which of the following workplace trends allows flexibility for employees in work hours?
a)
job rotation
b)
job sharing
c)
family leave
d)
flextime
24.
Which of the following is not a required employee deduction?
a)
overtime pay
b)
state taxes
c)
federal taxes
d)
social security
25.
Training employees to be efficient in more than one skill is called ____
a)
flextime
b)
job sharing
c)
job rotation
d)
overtime
26.
The amount of your take-home pay is also known as ____
a)
gross pay
b)
required deductions
c)
net pay
d)
optional deductions
27.
the right of a person hired first to be fired last is called ____
a)
a fringe benefit
b)
sick leave
c)
seniority
d)
a work incentive
100 %
