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Paycheck Final Test

Total questions: 22

Worksheet time: 59mins

Name
Class
Date
1.

If your GROSS paycheck is $500. What would the amount deposited in your bank account be if you had the following deductions? $150 Taxes, $25 Social Security, $5 for dental insurance and $50 for insurance.

a)

$350

b)

$325

c)

$250

d)

None of the above.

2.

If you worked 40 hours per week at $10 per hour, what is your gross income for the week?

a)

$227

b)

$4000

c)

$40

d)

$400

3.

Ruth earns $13.25/hour. She works 40 hours/week. $90.72 is deducted each week. What’s her net pay?

a)

$439.28

b)

$530

c)

$493.43

d)

$90.72

4.

Sam's deductions add up to $112 a week. If her net pay is $425 a week, what is her gross pay?

a)

$112

b)

$313

c)

$425

d)

$537

5.

Mya's net pay is $525/week. Her gross is $700. How much money is deducted from her paycheck each week?

a)

$525

b)

$125

c)

$175

d)

Nothing

6.

Melinda’s gross pay is $570. If the Social Security tax is 6.2%, how much will she pay in Social Security?

a)

$4

b)

$3.53

c)

$35.34

d)

$23

7.

Homer Simpson worked 35 hours last week. He makes $20.50 an hour. How much did he make?

a)

$820.00

b)

$55.50

c)

$717.50

8.

Peter Parker makes 17.50 an hour working at the Daily Bugle. He worked 38 hours last week. How much money did he make?

a)

$55.50

b)

$665.00

c)

$20.50

9.

Sansa Stark makes $15 per hour as a dog walker. If she works 27 hours this week how much will she earn?

a)

$12.00

b)

$42.00

c)

$405.00

10.

If you worked 40 hours per week at $10 per hour, what is your gross income for the week?

a)

$227

b)

$4000

c)

$40

d)

$400

11.
Which is bigger, gross pay or net pay?
a)
gross pay
b)
net pay
12.
money that is subtracted from your paycheck and given to your state's government to help run the state
a)
Local Tax
b)
State Tax
c)
Federal Tax
13.
money that is subtracted from your paycheck to pay for your medical coverage
a)
social security
b)
insurance
c)
retirement
14.
the amount of money you earn for working more than 40 hours each week
a)
overtime pay
b)
extra pay
c)
hourly pay
15.

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

16.

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

17.

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

a)

True

b)

False

18.

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

a)

True

b)

False

19.

A Payday is the day a person is paid.

a)

True

b)

False

20.
What does PTO stand for?
a)
Paid Time Off
b)
Part Time Offers
c)
Part Time Off
21.
YTD stands for...
a)
Yet To Do
b)
You Take Due
c)
Year To Date
22.
A Bonus is...
a)
Extra money the boss decides to give out. usually one-time a year
b)
Extra money the boss decides to take out of your pay, usually one time a year.
c)
The money you earn when you work extra.