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Financial Literacy - Personal Finance: Edition 6_Ch.6

Total questions: 14

Worksheet time: 11mins

Name
Class
Date
1.

Time worked beyond the regular hours.

a)

vested

b)

gross pay

c)

incentive pay

d)

overtime

2.

Money offered to encourage employees to strive for higher levels of performance.

a)

net pay

b)

incentive pay

c)

deductions

d)

gross pay

3.

Amounts subtracted from gross pay.

a)

net pay

b)

incentive pay

c)

deductions

d)

gross pay

4.

The total amount earned before any deductions are subtracted.

a)

gross pay

b)

overtime

c)

net pay

d)

vested

5.

The amount left after deductions are taken out of gross pay.

a)

net pay

b)

self-employment tax

c)

gross pay

d)

vested

6.

The point at which employees have full rights to their retirement.

a)

flextime

b)

vested

c)

gross pay

d)

seniority

7.

The total of 15.3 percent for social security and medicare tax paid by people who work for themselves.

a)

job sharing

b)

lobbying

c)

compressed workweek

d)

self-employment tax

8.

A policy where the longer you work for an employer, the more job security and rights you have.

a)

collective bargaining

b)

seniority

c)

labor union

d)

incentive pay

9.

A schedule that allows employees to choose their own working hours within limits.

a)

job rotation

b)

flextime

c)

seniority

d)

self-employment tax

10.

An attempt to influence public officials to pass laws and make decisions that benefit a particular group.

a)

net pay

b)

self-employment tax

c)

lobbying

d)

professional organization

11.

The process of negotiating a work contract for union members.

a)

lobbying

b)

compressed workweek

c)

collective bargaining

d)

professional organization

12.

A job design in which employees are trained to do more then one specialized task.

a)

job sharing

b)

compressed workweek

c)

self-employed tax

d)

job rotation

13.

A work schedule that fits 40 hours into the less than five days.

a)

collective bargaining

b)

compressed workweek

c)

vested

d)

profit sharing plan

14.

A group of people who work int he same or similar occupations organized for the benefit for all employees in these occupations.

a)

professional organization

b)

job sharing

c)

overtime

d)

net pay