Worksheets2025 Spring Final Exam Financial Math
Total questions: 100
Worksheet time: 50mins
Name
Class
Date
1.
Pay the employee receives for the work performed.
a)
Gross Income
b)
Savings Account
c)
Debit Card
d)
base pay
2.
Pay structure in which employees are paid every two weeks, often on a Friday.
a)
Unit pricing
b)
Savings Account
c)
Digital cash
d)
biweekly pay period
3.
Percentage of the amount of a business transaction paid to a sales agent or broker.
a)
income
b)
Register
c)
Overdraft Protection
d)
commission
4.
Automatic deposit of a person's paycheck into his or her checking account.
a)
Contract
b)
direct deposit
c)
Self-employment Tax
d)
Simple Interest
5.
Pay that comes from a person's work.
a)
earned income
b)
Warranty
c)
Medicare
d)
Debit Card
6.
Person or company who hires a person and pays him or her for work done.
a)
employer
b)
Sales tax
c)
Installment plan
d)
Tip
7.
Person who starts a business venture and assumes the risk of its success or failure.
a)
Debit Card
b)
Outstanding Check
c)
entrepreneur
d)
payroll
8.
Employee's total pay before deductions.
a)
dependent
b)
independent contractor
c)
W-2 Form
d)
gross pay
9.
Amount of money paid for each hour worked.
a)
Standard Deduction
b)
deduction
c)
Register
d)
hourly wage
10.
Money received by a person or company.
a)
Layaway plan
b)
income
c)
unearned income
d)
oral contract
11.
Person who provides a service to the public or to a company for money.
a)
independent contractor
b)
Contract
c)
commission
d)
Heir
12.
Lowest hourly wage employers are legally required to pay employees.
a)
minimum wage
b)
employer
c)
Debit Card
d)
Service Charge
13.
Tool that makes it easier to trade one thing of value for another.
a)
salary
b)
money
c)
withholding allowance
d)
overtime pay
14.
Pay structure in which salaried employees receive 1/12 of their annual salary on the last day of each month.
a)
monthly pay period
b)
Coupon
c)
Installment plan
d)
Automated Teller Machine (ATM)
15.
Agreement that has been acknowledged only through spoken words.
a)
money
b)
deduction
c)
oral contract
d)
Overdraft Fee
16.
Wages that are earned when an employee works more than 40 hours in a week.
a)
Bank Statement
b)
stipend
c)
flat-rate tax
d)
overtime
17.
Wages that are earned when an employee works more than 40 hours in a week.
a)
Interest
b)
Individual Retirement Arrangement (IRA)
c)
overtime pay
d)
Rebate
18.
Repeating time frame that an employer uses to calculate and pay salaries and wages.
a)
raise
b)
Payment card
c)
pay period
d)
Online bill pay
19.
List of employees a company pays.
a)
Service Charge
b)
Checking Account
c)
Deduction
d)
payroll
20.
Fixed payment for a person's work, usually paid monthly or twice per month.
a)
Automated Teller Machine (ATM)
b)
Principal
c)
salary
d)
Self-employment Tax
21.
Pay structure that divides the month into two pay periods; payday is often at the middle and the end of the month.
a)
Overdrawn
b)
semimonthly pay period
c)
Exemption
d)
Payment card
22.
When the only compensation received by an employee is commission.
a)
raise
b)
straight commission
c)
Adjusted gross income (AGI)
d)
earned income
23.
Income that is not derived from a person's work.
a)
money
b)
Charge account
c)
Interest
d)
unearned income
24.
Pay structure in which employees are paid each week.
a)
dependent
b)
Coupon
c)
Charge account
d)
weekly pay period
25.
Adjustment to income that comes after the adjusted gross income is determined.
a)
Service
b)
Coupon
c)
deduction
d)
Outstanding Check
26.
Child or other person whom an individual is supporting financially.
a)
Outstanding Check
b)
direct deposit
c)
dependent
d)
gross pay
27.
Anything of value that is offered or provided to employees in addition to wages; also called fringe benefits.
a)
Register
b)
Service
c)
earned income
d)
employee benefits
28.
Percentage of the employee's gross pay that is withheld from each paycheck.
a)
Overdraft Protection
b)
FICA tax
c)
Standard Deduction
d)
Principal
29.
Same rate of taxation paid by all taxpayers, regardless of income level; also called flat tax.
a)
Market
b)
Electronic Funds Transfer (EFT)
c)
flat-rate tax
d)
Warranty
30.
Anything of value that is offered or provided to employees in addition to wages; also called employee benefits.
a)
Pay-per-click advertising
b)
Good
c)
fringe benefits
d)
Heir
31.
Any cost an employee has to pay because of the job he or she was hired to do.
a)
Cleared
b)
job expense
c)
Principal
d)
direct deposit
32.
Federal health insurance program for people over 65 years of age.
a)
Medicare
b)
Deduction
c)
Automated Teller Machine (ATM)
d)
Social Security tax
33.
Amount something is worth in money alone.
a)
Online bill pay
b)
fringe benefits
c)
raise
d)
monetary value
34.
Final calculated amount of a paycheck after federal taxes, FICA taxes, and state taxes are withheld; also called take-home pay.
a)
Gift Tax
b)
net pay
c)
FICA tax
d)
deduction
35.
Payments employees make for the cost of benefits.
a)
pre-tax deductions
b)
dependent
c)
Annual Percentage Rate (APR)
d)
Individual Retirement Arrangement (IRA)
36.
The more a person makes, the higher the rate of taxation.
a)
Gross Income
b)
Market
c)
Inheritance
d)
progressive tax
37.
Increase in pay.
a)
dependent
b)
money
c)
Heir
d)
raise
38.
Contributes to retirement and disability benefits.
a)
Gift Tax
b)
pay period
c)
employee benefits
d)
Social Security tax
39.
Payment for taking on additional work duties or for completing work-related classes.
a)
Sales tax
b)
stipend
c)
monetary value
d)
employee benefits
40.
Portion of earnings taxed when a person files his or her tax return.
a)
pre-tax deductions
b)
Payment card
c)
Simple Interest
d)
taxable income
41.
Number of dependents a person claims on his or her W-4 form.
a)
dependent
b)
withholding allowance
c)
Savings Account
d)
employer
42.
Gross income minus selected government approved deductions
a)
Adjusted gross income (AGI)
b)
Register
c)
Layaway plan
d)
overtime
43.
Anything owned that is of Value
a)
Asset
b)
Debit Card
c)
Tax Return Preparer
d)
Inheritance
44.
Adjustment to income that comes after the adjusted gross income is determined
a)
independent contractor
b)
hourly wage
c)
payroll
d)
Deduction
45.
All of a person's possessions, including assets and debts
a)
Reconcile
b)
Self-employment Tax
c)
Exemption
d)
Estate
46.
Tax that is paid out of the value of an estate before the estate is transferred to the heir.
a)
employee benefits
b)
Estate tax
c)
Principal
d)
Interest
47.
Amount that a person can claim on a tax form for each other person who depends on his or her income
a)
Overdraft Protection
b)
direct deposit
c)
Exemption
d)
commission
48.
Form used to file income tax with the Internal Revenue Service that is due by April 15 each year, also call a tax return
a)
Federal Income tax Return
b)
overtime pay
c)
entrepreneur
d)
Register
49.
Law that limits the amount of money a person can give away as a gift without potentially costing their estate additional taxes
a)
Installment plan
b)
Gift Tax
c)
job expense
d)
pre-tax deductions
50.
Sum of earned and unearned income within a specific period of time
a)
Layaway plan
b)
Gross Income
c)
Reconcile
d)
Charge account
51.
Recipient of an Inheritance
a)
Heir
b)
Compound Interest
c)
Rebate
d)
Extended warranty
52.
Retirement account that allows individuals to save money for retirement
a)
hourly wage
b)
Compound Interest
c)
Heir
d)
Individual Retirement Arrangement (IRA)
53.
Individual's portion of an estate
a)
Inheritance
b)
Service
c)
semimonthly pay period
d)
Sales tax
54.
Tax imposed by some states on a person receiving an inheritance
a)
Sales tax
b)
Reconcile
c)
Tip
d)
Inheritance Tax
55.
FICA taxes that must be paid by self- employed person
a)
Certificate of Deposit (CD)
b)
Exemption
c)
FICA tax
d)
Self-employment Tax
56.
Fixed amount that can be claimed instead of listing individual deductions
a)
Standard Deduction
b)
Bank Statement
c)
base pay
d)
taxable income
57.
Expense that qualifies as a deduction from adjusted gross income
a)
Adjusted gross income (AGI)
b)
Tax Deductible
c)
taxable income
d)
biweekly pay period
58.
Any person who complete tax returns for others
a)
Payment card
b)
Inheritance Tax
c)
Service
d)
Tax Return Preparer
59.
Form that summarizes an employee's earnings and the amounts withheld from the employee's paychecks for the year
a)
Annual Percentage Rate (APR)
b)
overtime pay
c)
W-2 Form
d)
Digital cash
60.
Fee charged for borrowing money.
a)
Unit pricing
b)
withholding allowance
c)
Interest
d)
weekly pay period
61.
Fee charged by a bank for having an account.
a)
Warranty
b)
Service Charge
c)
biweekly pay period
d)
overtime pay
62.
Bank account that allows a customer to deposit money and write checks from the account.
a)
pre-tax deductions
b)
stipend
c)
Checking Account
d)
Payment card
63.
Bank account that pays interest to the account holder but limits the number of withdrawals per month.
a)
Estate
b)
overtime
c)
Savings Account
d)
W-2 Form
64.
When a check is processed and the money is transferred out of the checking account.
a)
Cleared
b)
overtime
c)
Automated Teller Machine (ATM)
d)
withholding allowance
65.
Transfer of money from one person or entity to another without any cash or checks involved.
a)
money
b)
Installment plan
c)
fringe benefits
d)
Electronic Funds Transfer (EFT)
66.
Plastic card linked to a checking account that gives the account holder access to the money in that account.
a)
Tax Return Preparer
b)
flat-rate tax
c)
Electronic Funds Transfer (EFT)
d)
Debit Card
67.
Computerized machine that allows a person to do basic banking functions without going to a bank.
a)
Automated Teller Machine (ATM)
b)
employer
c)
independent contractor
d)
Federal Income tax Return
68.
When a person spends more money than is available in his or her account.
a)
Service
b)
semimonthly pay period
c)
Overdrawn
d)
Register
69.
Fee charged by a bank for an overdrawn account.
a)
Overdraft Fee
b)
Tax Return Preparer
c)
Reconcile
d)
weekly pay period
70.
Service offered for a fee that covers overdrawn checks within certain limits.
a)
straight commission
b)
Overdraft Protection
c)
pre-tax deductions
d)
Gross Income
71.
List of all account activity for the reporting period.
a)
payroll
b)
Electronic Funds Transfer (EFT)
c)
Bank Statement
d)
Warranty
72.
Process by which a person can confirm each transaction on a statement against his or her own records, mark the records to show which items have cleared the bank, and verify that the account holder and the bank agree on the balance.
a)
Annual Percentage Rate (APR)
b)
Reconcile
c)
gross pay
d)
oral contract
73.
Check that has not yet been presented to the bank for payment or deducted from a person's account.
a)
Outstanding Check
b)
Charge account
c)
Reconcile
d)
Electronic Funds Transfer (EFT)
74.
Amount of money in an account at a given point.
a)
hourly wage
b)
Certificate of Deposit (CD)
c)
Balance
d)
Asset
75.
List of transactions and a running total of the balance after each transaction.
a)
Savings Account
b)
Register
c)
Overdraft Fee
d)
Coupon
76.
Type of savings vehicle that earns a higher interest rate than a regular savings account.
a)
stipend
b)
Rebate
c)
Simple Interest
d)
Certificate of Deposit (CD)
77.
Initial amount of a deposit or loan.
a)
Principal
b)
Bank Statement
c)
Pay-per-click advertising
d)
Rule of 72
78.
An interest-bearing bank account that often requires a minimum balance and limits the number of transactions per month.
a)
Money Market Account
b)
fringe benefits
c)
salary
d)
Adjusted gross income (AGI)
79.
Rate of return on an investment, or interest on a loan, for a one-year period.
a)
Tax Deductible
b)
Annual Percentage Rate (APR)
c)
base pay
d)
Adjusted gross income (AGI)
80.
Interest paid only on an original sum of money, or principal.
a)
Simple Interest
b)
payroll
c)
fringe benefits
d)
Automated Teller Machine (ATM)
81.
Interest calculated on the principal and accumulated interest.
a)
Bank Statement
b)
Compound Interest
c)
Warranty
d)
Extended warranty
82.
Method of estimating how long it will take to double an amount of money.
a)
Gross Income
b)
progressive tax
c)
Rule of 72
d)
Debit Card
83.
Arrangement in which a customer receives a good or service in exchange for the
a)
Individual Retirement Arrangement (IRA)
b)
withholding allowance
c)
Balance
d)
Charge account
84.
Formal agreement between two or more entities, such as people or organizations.
a)
monthly pay period
b)
Standard Deduction
c)
Annual Percentage Rate (APR)
d)
Contract
85.
Certificate that grants a discount or even a free good or service to its holder
a)
weekly pay period
b)
overtime
c)
Coupon
d)
Individual Retirement Arrangement (IRA)
86.
Form of currency that can be used online
a)
Good
b)
Digital cash
c)
W-2 Form
d)
commission
87.
Optional additional warranty offered by manufacturers and third-party
a)
earned income
b)
Extended warranty
c)
commission
d)
income
88.
Physical product
a)
minimum wage
b)
Tax Return Preparer
c)
Rule of 72
d)
Good
89.
Agreement where the total amount owed is made in payments over time
a)
Annual Percentage Rate (APR)
b)
pay period
c)
Service Charge
d)
Installment plan
90.
Type of installment plan where the store sets the item aside while the customer makes
a)
Layaway plan
b)
Payment card
c)
pre-tax deductions
d)
monthly pay period
91.
Any arrangement that allows buyers and sellers to meet with the purpose of exchanging
a)
Market
b)
Unit pricing
c)
salary
d)
Reconcile
92.
Service that allows a person to direct payment from his or her bank account to
a)
Online bill pay
b)
Outstanding Check
c)
Contract
d)
Individual Retirement Arrangement (IRA)
93.
Any card that is presented as payment for a purchase
a)
Payment card
b)
salary
c)
Coupon
d)
Layaway plan
94.
Advertising that charges the advertiser each time a viewer clicks the link
a)
Good
b)
Pay-per-click advertising
c)
W-2 Form
d)
Extended warranty
95.
Offer to pay back a portion of the money a customer spent on an item
a)
Social Security tax
b)
Rebate
c)
Simple Interest
d)
Charge account
96.
Flat rate applied to the sales price of a good or service
a)
Simple Interest
b)
Checking Account
c)
Sales tax
d)
hourly wage
97.
Activity of value
a)
Overdraft Protection
b)
biweekly pay period
c)
Service
d)
pay period
98.
Extra payment voluntarily made to a worker; also called a gratuity
a)
Automated Teller Machine (ATM)
b)
Estate tax
c)
Tip
d)
Self-employment Tax
99.
Price per unit for a product
a)
Unit pricing
b)
Rebate
c)
monthly pay period
d)
employee benefits
100.
Guarantee that the item purchased will perform to a certain standard or be free of defects
a)
Gross Income
b)
Bank Statement
c)
Warranty
d)
stipend
100 %