wayground logo

Free Printable Worksheets

NEW

Font size

S
M
L
XL
Worksheets

Unit 1 Review - PFL

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

Money you receive after taxes is called:

a)

gross income

b)

net pay

c)

salary

d)

pay day

2.
Money you receive before taxes is called:
a)
gross income
b)
net income
c)
pay day
d)
bank loan
3.

Amounts of money subtracted from an employee's total pay.

a)

Deductions

b)

Exemption

c)

Form W-2

d)

Form W-4

4.

A form that tells the employer how much tax to withhold from an employee's paycheck.

a)

Deductions

b)

Exemption

c)

Form W-2

d)

Form W-4

5.

A form that states the amount the employee was paid in the previous year.

a)

Deductions

b)

Exemption

c)

Form W-2

d)

Form W-4

6.

Take-home pay.

a)

Deductions

b)

Exemption

c)

Net Pay

d)

Gross Pay

7.

What does FAFSA represent?

a)

Gives projections for jobs in the future

b)

Free Application for Federal Student Aid

c)

a form used to get accepted into a Trade School

d)

Free and functional student assistance

8.

True or False: You have to pay back scholarship and grant money.

a)

True

b)

False

9.

How many hours must employees work in a week before overtime kicks in?

a)

35

b)

41

c)

40

d)

50

10.

What form do workers complete so an employer can verify that they are eligible for employment?

a)

W-2

b)

W-4

c)

I-9

d)

401 k

11.

A master's degree program

a)

is study beyond a bachelor's degree

b)

is completed after obtaining a doctorate degree

c)

is completed after obtaining an associates degree

d)

is complete after getting your high school diploma

12.

Which of the following are benefits often received by full-time workers?

a)

health insurance

b)

vacation pay

c)

sick leave pay

d)

all are benefits

13.

Which of the following should you NOT include on a resume?

a)

Past Education

b)

Volunteer experience

c)

Special skills

d)

Inappropriate email address

14.

Which of the following is NOT a required deduction from gross pay?

a)

Federal Income Tax

b)

Health Insurance

c)

State Income Tax

d)

Local Tax

15.

A charge for instruction at a school.

a)

Grants

b)

Scholarship

c)

Loan

d)

Tuition

16.

A loan on which interest is not charged until 6 months after the student graduates.

a)

Subsidized loan

b)

Tuition

c)

Unsubsidized loan

d)

Scholarship

17.

The ability to perform technical tasks or complete technical procedures.

a)

Hard skills

b)

Soft skills

18.

Nontechnical skills such as leadership or the ability to communicate clearly

a)

Hard skills

b)

Soft skills

19.

True or False: Federal law requires all employers to send employees W-2 statements no later than January 31 of the following year.

a)

True

b)

False

20.

True or False: Compensation package is the sum of the pay and benefits received from a job.

a)

True

b)

False