wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Personal Finance Exam

Total questions: 77

Worksheet time: 1hrs 8mins

Name
Class
Date
1.
The FICA tax is used to fund: a) highways, national parks and national defense. b) state highways, state parks, state troopers and public education. c) street lights, fire and police protection and public education. d) Social Security and Medicare.
a)
a
b)
b
c)
c
d)
d
2.
Gross pay is. a) the amount earned over a lifetime. b) the amount earned before deductions or taxes are taken out. c) the amount received after deductions and taxes have been taken out. d) computed by multiplying the number of hours by the hourly rate of pay, then subtracting federal and state income taxes.
a)
a
b)
b
c)
c
d)
d
3.
A W-4 Form is: a) used by employers to determine the amount of income tax to withhold from employees' earnings. b) the form taxpayers must fill out if they paid more income tax than necessary and want a refund. c) is a form employers must provide to employees shortly after year-end to report annual income and withholding for the employee's tax return. d) a printed statement of the amount that an employee is paid.
a)
a
b)
b
c)
c
d)
d
4.

What is a pay period?

a)

time worked beyond an employee’s regular hours

b)

the number of days an employee works and is paid for each paycheck

c)

the day a person is paid

d)

a fixed amount of money an employee is paid to do a job

5.

What is gross pay?

a)

a pay period of every 2-weeks with 26 pay periods per year

b)

the amount of money earned before any deductions are subtracted

c)

the amount of money left in a worker’s paycheck after deductions are taken out

d)

the amount of money subtracted from a worker’s pay

6.

Which of these is an optional/voluntary deduction?

a)

healthcare insurance

b)

state income tax

c)

Social Security tax

d)

Medicare tax

7.

Multiplying a worker’s hourly wage amount and hours worked per pay period equals?

a)

pay period

b)

salary

c)

gross pay

d)

net pay

8.

A fixed amount of money per year paid to an employee to do a job is known as a _____?

a)

hourly rate

b)

deduction

c)

overtime pay

d)

salary

9.

Which of these is the amount of money that remains after taxes have been deducted that a person can save or spend as he or she wishes?

a)

semi-monthly paycheck

b)

gross pay

c)

residents

d)

disposable income

10.

What is netpay?

a)

a pay period of every 2-weeks with 26 pay periods per year

b)

the amount of money earned before any deductions are subtracted

c)

the amount of money left in a worker’s paycheck after deductions are taken out

d)

the amount of money subtracted from a worker’s pay

11.

What is a deduction?

a)

the total income for a pay period

b)

net pay

c)

the amount of money subtracted from your paycheck

d)

overtime pay

12.

A pay stub...

a)

explains how much money was earned and the types of deductions and amounts withheld from a worker’s paycheck.

b)

is time worked beyond an employee’s regular hours.

c)

he amount of money remaining after taxes have been deducted that a person can spend as he/she wishes.

d)

is the amount of money you earn after deductions are subtracted.

13.

Overtime...

a)

explains how much money was earned and the types of deductions and amounts withheld from a worker’s paycheck.

b)

is time worked beyond an employee’s regular hours.

c)

he amount of money remaining after taxes have been deducted that a person can spend as he/she wishes.

d)

is the amount of money you earn after deductions are subtracted.

14.

Hourly wage is a specific rate of money per hour worked that is paid by an employer.

a)

True

b)

False

15.

A salary is a fixed amount of money paid to an employee to do a job.

a)

True

b)

False

16.

A Payday is the day a person is paid.

a)

True

b)

False

17.

Deductions are amounts of money subtracted from a worker’s gross pay.

a)

True

b)

False

18.

Each time a worker is paid, he/she should receive a detailed list of deductions on a pay stub or a deposit slip (if money is directly deposited to a bank account).

a)

True

b)

False

19.

Earning statement, provided by an employer, available at the end of a pay period.

a)

Payroll card

b)

Paycheck stub

c)

W4

d)

Employee timesheet

20.

Employers MUST provide health insurance to their employees

a)

True

b)

False

21.

Which of the following deductions are mandatory? (Check all that apply)

a)

State

b)

Federal

c)

Health

d)

Medicare

e)

Social Security

22.

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

23.

A tax on the value of a property that is often used for education, parks and rec, and transportation

a)

Positive Tax

b)

Properly Tax

c)

Property Tax

d)

Proportional Tax

24.

A form that tells your employer how much federal tax to take out of your pay

a)

SSN

b)

YTD

c)

SUI

d)

W-4

25.

Year to date: Total earnings or deductions from Jan.1 to date of paycheck

a)

SSN

b)

YTD

c)

SUI

d)

W-4

26.

Social Security Number

a)

SSN

b)

YTD

c)

W-4

d)

SUI

27.

The amount of money you earn before taxes and other expenses are taken out

a)

Net Pay

b)

Gross Pay

c)

Rate

d)

Deduction

28.

The amount of money you take home after taxes and other expenses are taken out

a)

Net Pay

b)

Gross Pay

c)

Deduction

d)

Rate

29.
What is the employer name?
a)
John Smith
b)
John S. Ltd
c)
John
d)
 John Ltd.
30.
What is the length of the pay period?
a)
two weeks
b)
one week 
c)
a month
d)
three weeks 
31.
Taxes are deducted from all employees paychecks
a)
true
b)
false
32.
On a pay stub, this indicates the total amount of money received by an employee after all deductions are taken out.
a)
Net Pay
b)
Gross Pay
c)
Total Pay
d)
Grand Pay
33.

Money paid to the government

a)

Paystub

b)

Current

c)

Taxes

d)

Net Pay

34.

The date range you are being paid for

a)

Pay Period

b)

Paystub

c)

Rate

d)

YTD

35.

Money taken out of paycheck to cover expenses including taxes and health insurance

a)

Deductions

b)

Taxes

c)

Paystub

d)

Net Pay

36.

a person that works for a company

a)

employer

b)

biweekly

c)

employee

d)

tax

37.

Rate of Pay= $14.50

Hours= 10

What is the gross pay?

a)

$145.00

b)

$1450.00

c)

$150.90

d)

$154.00

38.

YTD stands for:

a)

Year to Date

b)

Year Tax Date

c)

Yearly Tax Date

d)

Your Total Deductions

39.
What is the gross amount for the year?
a)
6,590.59
b)
22,400
c)
15,809.41
d)
2,240
40.

How much does she pay for federal income tax?

a)

27.53

b)

0

c)

6.05

d)

45.88

41.

How much is their gross pay?

a)

1950

b)

488.74

c)

1002

d)

501

42.
About how many people in the world live on less than a dollar a day?
a)
1.1 Million
b)
1.1 Billion
c)
10 thousand
d)
2 million
43.
Where was this documentary filmed?
a)
Honduras
b)
México
c)
Guatemala
d)
Cuba
44.
What is the name of the village where the students decided to live?
a)
Peña Blanca
b)
Guatemala City
c)
Tijuana
d)
Barcelona
45.
About how many people live in the village of Peña Blanca?
a)
1,000,000
b)
500,000
c)
250,000
d)
300
46.
How many students went on the trip
a)
4
b)
8
c)
12
d)
16
47.
Do the students buy a chicken?
a)
Si
b)
No
48.
What was the most expensive thing the students were buying in their budget?
a)
firewood
b)
beans
c)
toilet paper
d)
online dating service
49.
The beans and rice provided the boys with 3,600 total calories for ALL FOUR of them. How many daily calories is that per person?
a)
600
b)
900
c)
400
d)
1800
50.
What did the boys plant on their land?
a)
potatoes
b)
radishes
c)
bananas
d)
beans
51.
What helped them feel more full and consume more calories?
a)
eggs
b)
soup
c)
lard
d)
radishes
52.
Why does Chino want to learn Spanish?
a)
To go to school
b)
To get a good job
c)
to get a girlfriend
d)
To learn english
53.
What percentage of the total population in Guatemala lives on $1.25 per day or less?
a)
70%
b)
50%
c)
15%
d)
5%
54.
"_________" for everyone!
a)
Lard
b)
Bananas
c)
Rice
d)
fire wood
55.
About how much does it cost to send each child to school?
a)
$5
b)
$25 
c)
$100
d)
$1,000
56.
What happened to Victor's wife?
a)
Died
b)
Became really sick
c)
rolled down a hill
d)
Broke her leg
57.
What bug did Chris get from sleeping on the floor?
a)
Fleas
b)
Bed bugs
c)
spiders
d)
hee bee jeebies
58.

Money is withdrawn directly from a checking or savings account.

a)

Debit Card

b)

Credit Card

c)

Both

59.

Each purchase is a loan that is repaid later.

a)

Debit Card

b)

Credit Card

c)

Both

60.

Consumers can purchase items now and pay for them later.

a)

Debit Card

b)

Credit Card

c)

Both

61.

Convenient to use.

a)

Debit Card

b)

Credit Card

c)

Both

62.

A PIN (Personal Identification Number) MAYBE required to make a purchase.

a)

Debit Card

b)

Credit Card

c)

Both

63.

A checking account is a personal bank account which you can take money out of at any time using your cheque book or cash card.

Eric purchased a movie ticket with his card. This money will come straight out of his checking account. What card did he use?

a)

Debit Card

b)

Credit Card

c)

Both

64.
A checking account is
a)
An interest bearing account where your deposit remains for a set period of time
b)
An account where money can easily be deposited and withdrawn by means of checks, debit cards and ATM transactions.
c)
A computer that checks your email account
65.
I will get a bill at the end of the month for this card
a)
Debit Card
b)
Credit Card
c)
Both
66.
“I have $360 in my checking account, so that is the most I can spend using this card.”
a)
Debit
b)
Credit
c)
Both
67.
 “I don’t have any cash with me, so I’ll pay using this card.” 
a)
Debit 
b)
Credit
c)
Both
68.
 “This is just like using a check, except I don’t have to carry my checkbook with me everywhere I go.”
a)
Debit
b)
Credit
c)
Both
69.

Which type of card is directly linked to your bank account?

a)

Credit card

b)

Debit card

70.

Which type of card allows you to spend more money than you have in your bank account?

a)

Credit card

b)

Debit card

71.

Which type of card will charge late fees if not paid on time?

a)

Credit card

b)

Debit card

72.

Which card is a loan from a bank?

a)

Credit

b)

Debit

73.

When you use a debit card you are using __________.

a)

the bank's money

b)

your parent's money

c)

your money

74.
How can a cardholder avoid paying interest on a credit card?
a)
Do not pay anything
b)
Pay the minimum payment after its due date
c)
Pay the minimum balance every month
d)
 Pay the balance in full every month
75.

Which card can affect your credit score?

a)

Credit

b)

Debit

76.

Which card is useful for emergencies

a)

Credit

b)

Debit

77.

Which card is best for daily purchases?

a)

Credit

b)

Debit

Similar Resources on Wayground

Intro to American Government

76 questions

Intro to American Government

quiz

Worksheet

•

9th - 12th Grade

Midterm Review - Unit 2

78 questions

Midterm Review - Unit 2

quiz

Worksheet

•

9th Grade

Internal Processes

76 questions

Internal Processes

quiz

Worksheet

•

6th - 12th Grade

Unit 3: Political Process

73 questions

Unit 3: Political Process

quiz

Worksheet

•

9th - 12th Grade

World History: Chapters 1-3

79 questions

World History: Chapters 1-3

quiz

Worksheet

•

9th - 12th Grade

:Unit 3: Economies, Industry & Labor Review

76 questions

:Unit 3: Economies, Industry & Labor Review

quiz

Worksheet

•

9th - 12th Grade

Unit #2-Physical Geography Review

78 questions

Unit #2-Physical Geography Review

quiz

Worksheet

•

9th - 10th Grade

Unit 6 Vocab Core Copy

82 questions

Unit 6 Vocab Core Copy

quiz

Worksheet

•

9th Grade