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Worksheetssalary and wage
Total questions: 175
Worksheet time: 5hrs 41mins
An employee who is paid monthly is paid _______ times a year.
12
24
6
Julie earns a yearly salary of $60,000. How much does she make monthly?
$300,000
$3,500
$5,000
You earn $550 weekly. How much do you make per year?
$23,500
$28,600
$29,200
Bob earns $3,300 monthly. How much does he make in a year?
$275
$39,600
$36,000
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
You got a new job and will earn $2750 per month. What is your yearly salary?
$16,500
$229
$33,000
You are making $780 per week. How much will you earn in a year?
$45,060
$20,280
$40,560
If you are paid $1,500 bi-weekly how much will you earn in a year?
$50,000
$78,000
$39,000
Karolyn Yoder is paid a salary of $4,600 a month. What are her total annual earnings?
$5,520
$55,200
$53,700
Arturo makes an annual salary of $58,000 . What would he make in 1 week?
$2,345
$1,115
$2,230
Jon is making $4,600 a month racing! How much does he make in 1 year?
$55,200
$55,000
$4,600
Jorge makes $3,000 a month, how much does he make a year?
$36,000
$33,000
$29,000
Harley makes $1,500 a week, how much does he make a year?
$35,000
$66,000
$72,000
James makes $300,000 a year how much does he make a month?
$15,000
$25,000
$10,000
Jose makes $300 a week, how much does he make a year?
$30,000
$15,600
$12,000
If I earn $3,120 per month, how much do I earn in a year?
$31,200
$34,320
$37,440
A ________________ is a fixed amount of money paid each pay period regardless of the amount of hours worked.
Hourly rate
Salary
Weekly wage
Wage or Salary?
More likely to be calculated on an annual basis.
Wage
Salary
Wage or Salary?
More likely to be eligible for overtime.
Wage
Salary
Wage or Salary?
More likely to allow more flexibility with work hours.
Wage
Salary
Wage or Salary?
Total pay is found by multiplying by hours.
Wage
Salary
The amount of gross pay earned when wage is multiplied by hours is the definition of ________________.
Straight-time pay
Net pay
Overtime Pay
Total pay
You make $14.10 an hour. What is the following calculation an example of?
$14.10 x 2 x 7 hours = $197.40
Double-time Pay
Straight-time Pay
Gross Pay
Salary Pay
For a wage job,
straight-time pay + overtime pay
is the formula for _______________.
Gross/Total pay
Double-time pay
Net pay
Salary pay
Joan makes $10.50 per hour. How much does he make during a 35-hour work week?
$367.50
$420.00
It depends on his salary.
$350.50
Joan makes $10.50 per hour for the first 40 hours worked in a week. He make time-and-a-half for all hours over 40. How much does he make during a 55-hour work week?
$656.25
$577.50
$420.00
We don't know because we cannot calculate overtime.
The wage range for a job is $8.70 per hour for a worker with no experience up to $12.40 an hour for a very experienced worker. Relatively, how much more does a worker earning the top wage make than one earning the lowest wage?
42.5%
29.8%
142.5%
129.8%
$466,361
$476,001
We cannot answer because we do not know the weights of each month.
$1,399,082
25.0%
20.0%
32.6%
41.1%
$724.80
$483.20
$619.10
$634.20
An employee who is paid monthly is paid _______ times a year.
12
24
6
Paw Paw earns $550 weekly singing. How much does he make per year?
$23,500
$28,600
$29,200
Joshua sells jewelry. He make a total of 12% of commission off of his sales. How much commission does Joshua make when he sells $22,540 worth of jewelry.
$304.80
$450.80
$2,704.80
Russell makes $200,000 a year, how much does he make a week?
$3,846
$5,000
$2,000
$16,666
How many times a year do you receive a paycheck if you are paid biweekly?
52
26
24
Matthew, an accountant, receives a yearly salary of $72,000. Find his monthly salary.
$6000.00
$864,000.00
$600.00
An employee who is paid monthly is paid _______ times a year.
12
24
6
You got a new job and will earn $2750 per month. What is your yearly salary?
$16,500
$229
$33,000
You are making $780 per week. How much will you earn in a year?
$45,060
$20,280
$40,560
You are making $780 per week. How much will you earn in a year?
$45,060
$20,280
$40,560
A ________________ is a fixed amount of money paid each pay period regardless of the amount of hours worked.
Hourly rate
Salary
Weekly wage
Compute the sales commission for Kylie:
Sales amount: $48,000.00
Commission rate: 3%
$1400.00
$1440.00
$1500.00
Compute the sales commission for Hunter:
Sales amount: $500.00
Commission rate: 5%
$45.00
$50.00
$25.00
Faith sells $30,000 worth of furniture. Her rate of commission is 2.7%. What is her commission on that sale?
$810.00
$8,100.00
$1,800.00
You should research the _________________ of a career to learn about its long-term growth stability.
average salary
workplace culture
job outlook
You can estimate the kind of salary you should expect to earn by determining ____________________ .
your market value
your financial needs
the average salary in your field
_________________ skills are focused around broader concepts, such as communication, leadership, or time management.
Transferable
Technical
Mechanical
You should take some time to calculate the total value of a salary by including your _________________ .
Take-home pay
hourly wage
benefits
S.M.A.R.T. goals are:
Strategic, Memorable, Attainable, Realistic, Team-oriented
Sound, Measureable, Action-oriented, Realistic, Timely
Specific, Measurable, Attainable, Relevant, Timely
Before you begin a new career path, you should _________________ .
assess your personality and interests
research different schools to attend
quit your current job to focus on your job search
You can gain real-world experience in a new industry by _________________________ .
conducting research
volunteering
using e-learning
Figuring out what kind of salary you need to support yourself is part of assessing your ____________________ .
skills and interests
financial needs
personality
Researching the _____________________ of a career will help you learn about potential workplace safety issues.
types of positions available
typical working conditions
job outlook
_________________ include health, dental, and vision insurance, vacation time, and retirement.
Benefits
Transferable skills
Market value
__________________ is how much money you will be paid per hour?
Gross pay
Net pay
Hourly pay
__________________ the amount of money you'll earn before income taxes is taken out.
Gross pay
Net pay
Hourly pay
________________ is a list of all your monthly expenses that must be paid.
Grocery List
Budget
Inventory
Complete record of your borrowing and repayment performance.
Personal info
Personal history
Credit history
Credit info
Every hour
Minimum Wage
Salary
Hourly
Interview
The competence or skill expected of a professional.
Professionalism
Interview
Cover Letter
Internship
A fixed regular payment.
Interview
Externship
Economy
Salary
A occupation undertaken for a significant period of time in a person's life.
Internship
Career
Externship
Resume
A document sent with your resume to provide additional information on your skills and experience.
Resume
Minimum Wage
Cover Letter
Economy
A conversation where questions are asked and answers given.
Externship
Intership
Interview
Application
The official form that employers ask all applicants for a position to fill out.
Resume
Interview
Form
Application
The lowest hourly income permitted by law or by a special agreement.
Economy
Hourly
Minimum Wage
Salary
A one or two page formal document used as a means of showing a list of an applicant's work experience, education, and skills.
Application
Resume
Essay
Worksheet
Pays medical and disability benefits to employees injured on the job
unearned income
earned income
workers compensation
Medicare
Wages, salary and tips
unearned income
earned income
disposable income
withheld from an employee’s wages or salary
disposable income
payroll taxes
workers compensation
earned income
fixed rate of pay for week, month, or year
wages
commission
tips
salary
pay based on number of hours worked
salary
wages
earned income
unearned income
What are the four most common taxes that come out of a person’s payroll check?
Federal Income Tax
State Income Tax
City/Local Income Tax
Medicare Tax
Social Security
In most circumstances, which of the following persons can be claimed as a dependent on a Form W-4? Mark all that apply.
yourself
your spouse
your parents
your children
your pets
In most circumstances, which of the following persons can be claimed as a dependent on a Form W-4? Mark all that apply.
yourself
your spouse
your parents
your children
your pets
By what date must employers provide, or place in the mail, a wage earner's W-2 statement?
January 1
January 31
April 1
April 15
Which form is used to report an employees earnings and taxes paid in a year?
W-2
W-4
I-9
1040
Social security is the tax that pays for medical insurance for older adults.
True
False
Federal law requires employers to pay a minimum wage.
True
False
Tax deductions are calculated as a percentage of net pay.
True
False
Employees who are paid semi-monthly receive 26 paychecks per year.
True
False
Employees who are paid biweekly are paid twice a week.
True
False
What is the deadline for filing personal income tax?
January 31
April 15
May 31
June 15
"Every two weeks" means
biweekly
monthly
semi-monthly
weekly
What does "once per week" mean?
biweekly
weekly
semi-monthly
monthly
What does "twelve times a year" mean?
weekly
monthly
semi-monthly
annually
How many times per year does "biweekly mean"?
52
24
26
12
A fixed annual sum of money divided among equal pay periods.
Commission
Wage
Salary
Overtime
Total Earnings
The total amount earned by all employees for a pay period.
Salary
Wage
Commission
Payroll
Earnings
The number of days or weeks of work covered by an employee's paycheck.
Once a Month
Every Other Week
Every Two Weeks
Once a Week
Pay Period
An employee who is paid monthly is paid _______ times a year.
12
24
6
Julie earns a yearly salary of $60,000. How much does she make monthly?
$300,000
$3,500
$5,000
You earn $550 weekly. How much do you make per year?
$23,500
$28,600
$29,200
Bob earns $3,300 monthly. How much does he make in a year?
$275
$39,600
$36,000
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
You got a new job and will earn $2750 per month. What is your yearly salary?
$16,500
$229
$33,000
If you are paid $1,500 bi-weekly how much will you earn in a year?
$50,000
$78,000
$39,000
Jorge makes $3,000 a month, how much does he make a year?
$36,000
$33,000
$29,000
A ________________ is a fixed amount of money paid each pay period regardless of the amount of hours worked.
Hourly rate
Salary
Weekly wage
Gail earns $18.50 per hour and worked 40 hours and 10 hours overtime. If overtime is paid for at time and a half what is her weekly pay?
$277.50
$740.00
$1,017.50
A ______ is usually paid on a biweekly or monthly basis for professional employment.
salary
stipend
wage
benefit
Which of the following is the best reason to use cash for purchases?
getting more from the ATM is easy to do
keeping track of how much you have spent is simple
splitting bills with friends is easier
losing it won't be a big deal
What factor has the biggest impact on a credit score?
having a variety of credit
the amount of money you owe on your credit cards
your history of making payments on time
the number of years that you have used credit responsibly
What is the best strategy to avoid paying interest on your credit cards?
pay the minimum balance each month
pay the full balance each month
have credit cards from two different banks
make payments online
Which of the following is not a source of income?
your annual salary for doing your job
your monthly student loan payment
the stipend you receive for doing an internship
the wages you receive for a work shift
Ashley wants to make a purchase using the money in her checking account. What method of payment should she use to access these funds immediately and directly?
credit card
debit card
direct deposit
prepaid card
___ is controlling the use of time
time control
time travel
time management
___ is a time at which a task needs to be completed
due date
timeline
deadline
Required payments to a government.
Gross Pay
Income
Taxes
Net Pay
A portion of one’s personal income paid to a government including the federal and state.
Income
Gross Pay
Net Pay
Income tax
A tax on income to fund the social security benefits to most Americans who are retired, sick, or too disabled to work, and to families of workers who have died.
FICA - Medicare
FICA - Social Security
Federal Income Tax
State Income Tax
A tax on income to fund the social security benefits to most Americans who are retired, sick, or too disabled to work, and to families of workers who have died.
FICA - Medicare
FICA - Social Security
Federal Income Tax
State Income Tax
A tax used to fund the government's Medicare program, which provides subsidized healthcare and hospital insurance benefits to retirees and the disabled.
State Income Tax
FICA - Social Security
Federal Income Tax
FICA - Medicare
Is the total amount you earn before any deductions are subtracted.
Net Pay
Gross Pay
Income
Taxes
A fixed annual amount of gross pay
Gross Pay
Wage
Net Pay
Salary
Unearned income is reported on your tax form and taxes must be paid on them.
True
False
Overtime is calculated at 1.5 times an employee's regular rate of pay.
True
False
Employees who are paid biweekly are paid twice a week.
True
False
Employees who are paid semi-monthly receive 26 paychecks per year.
True
False
Tax deductions are calculated as a percentage of net pay.
True
False
Federal law requires employers to pay a minimum wage.
True
False
Social security is the tax that pays for medical insurance for older adults.
True
False
Which form is used to report an employees earnings and taxes paid in a year?
W-2
W-4
I-9
1040
By what date must employers provide, or place in the mail, a wage earner's W-2 statement?
January 1
January 31
April 1
April 15
What is the deadline for filing personal income tax?
Federal Government
IRS
Social Security Division
Congress
Food stamps, rent subsidies, and vouchers for goods and services are examples of
in-cash transfer payment
earned income
employee benefits
in-kind transfer payment
In most circumstances, which of the following persons can be claimed as a dependent on a Form W-4? Mark all that apply.
yourself
your spouse
your parents
your children
your pets
What are the four most common taxes that come out of a person’s payroll check?
Federal Income Tax
State Income Tax
City/Local Income Tax
Medicare Tax
Social Security
money or benefits received from the government
Transfer payment
Tax refund
amount returned by the government for overpaid taxes
Transfer payment
Tax refund
pay based on number of hours worked
salary
wages
earned income
unearned income
fixed rate of pay for week, month, or year
wages
commission
tips
salary
withheld from an employee’s wages or salary
disposable income
payroll taxes
workers compensation
earned income
Wages, salary and tips
unearned income
earned income
disposable income
Pays medical and disability benefits to employees injured on the job
unearned income
earned income
workers compensation
Medicare
Income that has not been worked for such as interest, dividends, or gambling winnings
disposable income
unearned income
earned income
workers compensation
Pays medical and disability benefits to employees injured on the job
unearned income
earned income
workers compensation
Medicare
