wayground logo

Free Printable Worksheets

NEW

Font size

S
M
L
XL
Worksheets

Fin Lit Terms

Total questions: 13

Worksheet time: 7mins

Name
Class
Date
1.

Gross Pay

a)

Total amount earned before deductions are subtracted

b)

Amount after taxes and deductions

c)

Net income after all expenses

d)

Salary before bonuses and commissions

2.

Interest

a)

A fee charged by the bank for account maintenance.

b)

A percentage of the money that is in an account that a bank pays on some accounts.

c)

A type of investment that guarantees returns.

d)

A penalty for withdrawing money too early.

3.

Principal

a)

The total interest paid on a loan.

b)

The balance, or amount of money, in an account, or amount borrowed.

c)

The fees associated with opening a bank account.

d)

The minimum payment required on a credit card.

4.

Overtime

a)

Time worked beyond regular 40 hours.

b)

Time taken off from work for personal reasons.

c)

Time spent in training sessions during work hours.

d)

Time worked during weekends only.

5.

Net Pay

a)

The total earnings before any deductions are made.

b)

The amount left over after deductions are taken out of the gross pay. Some call this take-home pay.

c)

The amount of money earned from investments.

d)

The sum of all deductions from gross pay.

6.

Semimonthly

a)

Twelve times a year, once a month

b)

Twenty-Four times a year, twice a month

c)

Thirty times a year, three times a month

d)

Fifty-Two times a year, once a week

7.

Overtime Rate

a)

One and a half (1.5) times the normal hourly amount of compensation

b)

Double the normal hourly amount of compensation

c)

Normal hourly amount of compensation

d)

One and a quarter (1.25) times the normal hourly amount of compensation

8.

Checking

a)

An account at a bank that allows a customer to deposit money, make withdrawals, and make transfers from the funds on deposit (everyday account).

b)

A type of savings account that offers higher interest rates for long-term deposits.

c)

A loan provided by a bank to purchase a home or property.

d)

An investment account that allows customers to buy and sell stocks and bonds.

9.

Hourly Rate

a)

Set amount paid for each hour of work.

b)

Payment made at the end of the month.

c)

Fixed salary regardless of hours worked.

d)

Bonus paid for overtime work.

10.

Savings

a)

An account in which the bank pays interest for use of the money deposited into the account.

b)

A type of account that incurs fees for withdrawals.

c)

An account that allows unlimited transactions without any interest.

d)

A loan provided by the bank to customers for personal use.

11.

Biweekly

a)

Twenty-Six times a year, every other week

b)

Once a month

c)

Twice a month

d)

Every week

12.

Annually

a)

Occurring every year

b)

Happening once a month

c)

Taking place every two years

d)

Occurring every week

13.

Salary Pay

a)

Compensation based on performance and productivity.

b)

Fixed compensation paid regularly for services. Traditionally, these employees don't receive any additional compensation for overtime.

c)

Payment made only for overtime work.

d)

A type of commission based on sales.