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3rd Quarter Quiz (Taxes/ Stock Market)

Total questions: 35

Worksheet time: 19mins

Name
Class
Date
1.

The form employers must provide to employees by January 31 of each year that gives annual income and withholding information. (Income money received from wages and salaries, rent, interest, and profit) is?

a)

Form W - 2

b)

Form W - 4

c)

Employment Status Form

d)

Form-L occasion

2.

A tax form filled out by an employee to indicate the amount that should be withheld from his/her paycheck for taxes

a)

Form W-1

b)

Form W-2

c)

Form W-3

d)

Form W-4

3.
Who is considered an alien on an I-9 form?
a)
A person who is not a citizen
b)
A person who is a citizen through naturalization
c)
A child under 18
d)
An adult over 18
4.
Why do people fill out I-9 forms? 
a)
To prove they were born in the US
b)
To prove they can work in the US
c)
For their taxes
d)
To take out the right amount of money out of their taxes
5.

Click types of income that the 1099 form is used for

a)

interest income

b)

certain retirement income

c)

miscellaneous

d)

long term care (nursing homes)

e)

dividend income

6.
Total income for the year
a)
gross income
b)
taxable income
c)
net pay
d)
unearned income
7.
Money that an employer takes from your paycheck to be used for taxes is called
a)
interest income
b)
withholding
c)
dividend income
d)
unearned income
8.
The deadline to file your annual tax return
a)
March 15
b)
April 30
c)
April 15
d)
March 30
9.
The form that helps the employer determine how much to deduct for federal income tax
a)
W-2
b)
W-4
c)
Form 1040 EZ
d)
Form 1040
10.
Agency responsible for collecting federal taxes
a)
FTC
b)
OSHA
c)
CPSC
d)
IRS
11.
Free from federal tax withholding
a)
allowance
b)
exempt
c)
withholding
d)
standard deduction
12.

The amount of federal income tax to withhold from your pay is based on

a)

gross pay

b)

marital status

c)

the number of withholding allowances

d)

all of the above are correct

13.

Which of the following types of income is used to determine your tax liability for the year?

a)

gross income

b)

net pay

c)

taxable income

d)

unearned income

14.
Which tax form is used  to provide information about your previous year's pay and deductions from that year?
a)
W2
b)
W4
c)
1040A
d)
1099-INT
15.
Who is responsible for providing the W2 form?
a)
You
b)
Your Employer
c)
Your bank
d)
The IRS
16.
When is a W4 form filled out?
a)
Right before you file your taxes
b)
When you quit a job
c)
When you start a job
17.
Which tax form provides information on how much you have earned in interest on your savings tools, such as savings accounts?
a)
W2
b)
W4
c)
1040
d)
1099-INT
18.
Who provides you with the 1099-INT?
a)
You fill it out
b)
Your employer
c)
Your Bank
19.

True or False. LEGALLY your employer DOES NOT have to send you a W-2 form.

4 lines
20.

Identify TWO examples of taxes deducted from your paycheck.

a)

Federal

b)

Road Taxes

c)

Social Security

d)

Public Safety Tax

21.

What is the date you should receive your W-2 by?

(a)  

22.
Why does the IRS take money out of your paycheck? 
a)
For taxes to help run the government, schools, military, etc.
b)
For a savings account
c)
Only for Social Security
d)
Only for the military 
23.
What happens if you have too much money taken out of your paycheck?
a)
You have to pay money to IRS next year
b)
You get money back from the IRS next year
c)
Nothing, they ignore it
d)
They fine you
24.
What happens if you don't have enough money taken out of your paycheck?
a)
You have to pay money to IRS next year
b)
You get money back from the IRS next year
c)
Nothing, they ignore it
d)
They fine you
25.
Who is a dependent?
a)
A child that doesn't live with you
b)
A person who lives with you full time and you take care of
c)
A husband or wife
d)
Your child if they live with your girlfriend or boyfriend 
26.
Who is a spouse?
a)
Your child
b)
Your husband or wife
c)
Your girlfriend or boyfriend
d)
Your mom or dad
27.
Should you choose single or married if you have a boyfriend or girlfriend?
a)
Single
b)
Married
c)
It depends if you love them or not
d)
It depends if you live with them
28.
What is the stock market?
a)
A type of farmers market where people buy and sell food.
b)
A place where parts of businesses are bought and sold.
c)
A special type of grocery store that sells stocks.
d)
A type of bank that gives out loans to new businesses.
29.
The name for a part of a business that is bought and sold on the stock market is:
a)
Part
b)
Marker
c)
Stocker
d)
Share
30.
Why would a company need to issue stock?  
a)
To increase its' customer base.
b)
To raise money.
c)
To stop the government from regulating it.
d)
To show customers that it's successful.
31.
Apple is releasing a new iPhone that is predicted to change the cell phone world.  Millions of people have pre-ordered it.  What do you think will happen to their stock?
a)
It is likely to go up.
b)
It is likely to go down.
32.
Over the course of the day, the head of Apple's company is imprisoned for not paying his taxes.  What do you think will happen to Apple's stock?
a)
It will go up.
b)
It will go down.
33.

When stocks overall are rising, the market is called?

a)

A bull market

b)

A bear market

c)

market capitalization

d)

market diversification

34.

A person who owns shares in a company is called?

a)

A shareholder

b)

A stockbroker

c)

A day trader

d)

venture capitalist

35.

What is the term describing an overall decrease in stock prices?

a)

A bull market

b)

Market capitalization

c)

Market diversification

d)

A bear market

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