WorksheetsMultiple Choice
Total questions: 28
Worksheet time: 9mins
Provides medical benefits to those 65 or older is _________________________________.
Medicare
Medicaid
Social Security
Veterans Health Administration
Usually the largest withholding from your paycheck and the amount depends on how much money you made and what you indicated on your W4.
FICA
State Tax
Medicare
Federal Tax
Your pay after deductions are taken out is called _________________________________.
net pay
gross pay
base salary
total earnings
Government agency that collects taxes and enforces tax laws is called _________________.
Internal Revenue Service (IRS)
Federal Tax Authority (FTA)
National Tax Agency (NTA)
Revenue Collection Department (RCD)
Form you complete when you begin a new job so the employer knows how much to withhold from your paycheck for federal tax.
W-4 Form
W-2 Form
I-9 Form
1099 Form
The source for retirement income or income for disabled people is ___________________.
Social Security
Medicare
Unemployment Benefits
Food Stamps
Amount of money you earned before deductions are taken out.
Gross income
Net income
Disposable income
Taxable income
Social Security and Medicare together called ___________________.
Mandatory Tax
Optional Taxes
FICA
Tax
January 1 through today is called _____________________________________________.
Year-to-date
Fiscal year
Calendar year
Quarter-to-date
You would apply for this in order to borrow money from the bank.
loan
credit card
savings account
mortgage
You use this to withdraw money from your checking account. _______________________
ATM
Credit Card
Checkbook
Online Banking
Form that you receive that recaps the total amount you earned how much tax was withheld from the previous year.
W-4
W-2
I-9
W-8
When you go into the bank to deposit money, you use this form to indicate how much money you are putting into your account.
Blank endorsement
Special endorsement
Debit Card
Deposit Slip
The bank will sometimes charge you if you overdraw on your account or if you use an ATM that is from a different bank. These charges are called…
Endorsements
Bank fees
Loans
W2
Learning about money, personal budgeting, and how to manage money, is called this…
Consumer spending
Debt
Financial Literacy
Wants and Needs
When you have an obligation to repay someone or some company, it is called this…
Debt
Deposit
401K
Pay period
When you borrow money from a bank, they will charge you an amount to borrow the money. What is it called?
Loan
Interest
Bank fees
Direct deposit
Everyone has needs and wants. How well you manage your needs and wants is mostly dependent upon your…
behavior
math knowledge
income
check register
When reconciling your checking account register, you compare it to this...
Bank fees
Deposit slip
Monthly bank statement
Your bills
This is used to keep track of all your transactions in your checking account.
Savings account
Interest
Check register
Budget
When writing a check for $1,766.89, which of the following would be the best way you would write the amount on the check in words?
One thousand seven hundred sixty six dollars and eighty nine cents
Seventeen hundred sixty six
Seven and sixty and six -------------------- 89 cents
One thousand dollars, seven hundred and sixty six dollars and eighty nine
Reconcile your check register against your monthly bank statement is done to make sure the transactions in your register match the transactions in your bank statement.
True
False
When you open an account in a credit union, you actually become a member of that credit union.
True
False
FDIC protects you by insuring your money in the bank up to __________
$100,0000
$5,000
$55,000
$250,000
Due to insufficient funds, or not enough money in the account to cover the check written
Check Issue
Boucing a Check
Overdraft fee
Checking Account
When addressing an envelope, the person’s address you are mailing to is written in the middle of the envelope.
True
False
Non-profit financial institution owned by members who have something in common.
Bank
Credit Union
Both
If my hourly rate is $18.00, what is my overtime rate?
$25.00
$24.50
$27.00
$26.00
