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WorksheetsFinancial Algebra Final Exam Review - Quarter 2
Total questions: 108
Worksheet time: 3hrs 47mins
policyholder
prremium
co-insurance
If you owe money on your vehicle, you will be required to have...
half insurance
no insurance
full coverage insurance
Maggie will need to pay $120 per month in order to purchase a car insurance policy. This monthly payment is known as the:
deductible
co‐insurance
premium
moral hazard
What does liability bodily injury pay for?
other people's injuries when you cause an accident.
other people's property when you cause an accident
your injuries when you cause an accident
other people's injuries when they cause an accident.
Which of the following vehicles would most likely to have the highest premium?
economic 4-door sedan
new sports car
used mini-van
used hybrid car
If your deductible decreases, what happens to your premium?
increases
decreases
has no effect
policyholder
prremium
having insurance beyond what is necessary
under insured
over insured
right amount of insurance
need more insurance
not having enough insurance coverage
under insured
over insured
right amount of insurance
need more insurance
How many paycheck would you receive in 1 year if you are paid Monthly?
12
52
26
24
How many paycheck would you receive in 1 year if you are paid Weekly?
12
52
26
24
How many paycheck would you receive in 1 year if you are paid Biweekly?
12
52
26
24
How many paycheck would you receive in 1 year if you are paid Semimonthly?
12
52
26
24
Billy is paid biweekly. His annual salary is $59,000. What is his biweekly salary? Include a $ in your answer and round to two decimal places.
(a)
Priya works as a part-time assistant at a local bookstore. If her hourly rate is $18 and she works 35 hours in a week, what is her weekly pay?
$540
$630
$700
$750
Aria is looking for a new job. Which of the following is NOT a factor she should consider?
Salary
Company reputation
Distance from home
Favorite color
David works as a part-time employee at a local store, earning $12 per hour. Last week, he worked a total of 45 hours. If overtime is paid at 1.5 times the regular rate, what is David's total pay for the week?
$540
$570
$600
$630
Luna works at a local cafe and wants to calculate her weekly pay. What is the formula to calculate her weekly pay if she knows her hourly rate and hours worked?
Weekly Pay = Hourly Rate + Hours Worked
Weekly Pay = Hourly Rate \times Hours Worked
Weekly Pay = Hourly Rate - Hours Worked
Weekly Pay = Hourly Rate \div Hours Worked
Benjamin works as a part-time employee at a local store. If his hourly rate is $25 and he works 8 hours a day for 5 days, what is his total pay for the week?
$800
$900
$1,000
$1,100
Rohan recently started a new job. Which of the following is a benefit he might experience from having this job?
Increased free time
Earning a salary
Less responsibility
More homework
Mason works 30 hours a week at an hourly rate of $10, what is his monthly pay assuming 4 weeks in a month?
$1,000
$1,100
$1,200
$1,300
Grace works at a company that pays its employees on a bi-weekly basis. How many pay periods per year does Grace have?
52
26
24
12
Olivia works at a local coffee shop. What is the difference between a pay period and a payday for her job?
A pay period is the time frame in which work is performed and a payday is when the worker receives payment for that period.
A pay period is when the worker receives payment and a payday is the time frame in which work is performed.
A pay period and a payday both refer to the same day when a worker is paid.
A pay period is the amount of money received, while a payday is the date it is received.
Kai works at a local grocery store and receives his paycheck once per week. How many pay periods does he have in a year?
(a)
Imagine this! Our friends Abigail, Michael, and Hannah are working in a super cool company that pays its employees twice a month. Can you guess how many times they'll be running to the bank in a year?
12
52
365
24
Question 3: Rohan just landed a cool job at a hip new startup, where they pay their employees every week. Ava, Michael, and Liam, who are always up for a fun trivia challenge, decided to quiz each other. Ava turned to Rohan and asked, 'Rohan, can you tell us how many pay periods there are in a year at your new job?'
24
52
12
365
Question 4: Luna, Kai and Hannah are playing a game of 'Guess the Job'. David is their imaginary character who works in a company and gets his paycheck every month. Can you help them figure out how many pay periods are there in a year for David?
52
24
6
12
Abigail, Avery, and Daniel were curious about how much their friend Rohan earned at the local bookstore. They found out that Rohan worked 40 hours in a week and earned $600. Can you help them figure out Rohan's hourly rate?
$25 per hour
$15 per hour
$20 per hour
$10 per hour
Evelyn, Lily, and Samuel are curious about their friend Ethan's part-time job at the whimsical local bookstore. Ethan worked a total of 30 hours in one week and earned a cool $480. Can you help them figure out Ethan's hourly rate?
$15 per hour
$16 per hour
$25 per hour
$20 per hour
Question 7: Aria, Mia, and Charlotte are having a friendly chat about their part-time jobs. Aria playfully mentions that she earns $750 for working 50 hours in a week at her job. Mia, always curious, playfully throws a question at Aria, 'What is your hourly rate, Aria?'
$10 per hour
$20 per hour
$25 per hour
$15 per hour
Imagine a bustling retail store managed by Priya, Abigail, and Noah. Zoe, a diligent worker, is calculating the overtime pay for an employee who earns $20 per hour and has worked 45 hours in a week. Can you help Zoe figure out how much should the employee be paid for his overtime for 30 hours?
$500
$700
$600
$900
Question 9: If Micadela signs a new 3-year contract after her first 5 years, her salary will be $75409, with a 4.1 % annual increase, what will her salary be in her 8th year with the company?
$86020
$91000
$85070
$80509
Question 10: Anika, a bookworm and part-time worker at the local bookstore, is helping her friends William, Nora, and Samuel arrange a special event. She earns $25 per hour and this week, she worked 48 hours. Can you help them calculate her overtime pay?
$300
$600
$400
$500
Billy is paid biweekly. His annual salary is $59,000. What is his biweekly salary? Include a $ in your answer and round to two decimal places.
(a)
Chris sells textbooks. He receives 8% commission on his first $1,000 in sales and 12% on the balance of his sales. If his sales in one month were $14,500, how much does he receive in commission? Make sure your answer includes a dollar sign and round to two decimal places.
(a)
Billy is paid biweekly. His annual salary is $59,000. What is his biweekly salary? Include a $ in your answer and round to two decimal places.
(a)
Carol was offered a job as a computer programmer making $60,000 per year. Another company offered Carol a position earning $1,100 a week. Which job pays more?
The one offering $60,000 per year.
The one offering $1,100 per week.
They both make the same amount of money.
Neither one pays enough for Carol to pay her monthly bills.
It doesn't matter because Carol is going to look for a different job.
What is time-and-a-half overtime?
The total pay, which is the sum of an employee's hourly pay and overtime.
The hourly rate an employee gets paid for overtime hours calculated as 1.5 times the regular pay.
Something you get from your employer for being able to do more work than normal.
The average amount of money you receive for the week.
Federal and sate laws provide rules on the lowest hourly rate that can be paid to a worker in the United States. What is that rate called?
Regular hours
Minimum wage
Double-time
Maximum wage
What is time-and-a-half overtime?
The total pay, which is the sum of an employee's hourly pay and overtime.
The hourly rate an employee gets paid for overtime hours calculated as 1.5 times the regular pay.
Something you get from your employer for being able to do more work than normal.
The average amount of money you receive for the week.
Pimmi gets paid $0.40 for the first 100 craft kits that she assembles. She earns $0.85 for each kit over 100. This week she assembled 135 kits. How much did she earn? Make sure you use a dollar sign in your answer and round to the nearest cent.
(a)
Jessica began a job that gives her 2 days of vacation each year she is employed, up to a maximum of 24 days of vacation time. How many years will she be at the company when she reaches the maximum amount of vacation time.
8 years
24 years
3 years
12 years
Mr. Jacobs has been working in a factory for 28 years. He is preparing to retire. His pension is calculated on the average of his last 3 years' salaries when he earned $43,473; $42,432; and$42,080. His employer will give him 1.8% of that average for each year he worked. Calculate his pension. Make sure your answers has a dollar sign and round to the nearest cents.
(a)
Jessica began a job that gives her 2 days of vacation each year she is employed, up to a maximum of 24 days of vacation time. How many years will she be at the company when she reaches the maximum amount of vacation time.
8 years
24 years
3 years
12 years
Sammy gets paid for every apron they embroiders. Last week, they earned $233.75 If Sammy earns $2.75 for each embroidered piece, how many aprons did Sammy embroider last week?
(a)
Billy works at a restaurant where he is paid by the hour plus time and a half for his hours over 40. He is paid $7.80 per hour and last week he worked 3 hours overtime. What is his gross pay? Use a dollar sign and round your answer to the nearest cents.
(a)
Sally found a job posting on an Internet website. the job pays a yearly salary of $75K. What is the monthly salary based on his annual salary? Use a dollar sign and round your answer to the nearest cents.
(a)
Gabe contributes 15% of the total cost of the individual health care coverage his company offers. He pays $28.80 per week towards this contribution. What is the total value of Gabe's health care coverage for the year? Answer should have a dollar sign and be rounded to the nearest cent.
(a)
What is net pay?
A. The amount of pay earned for the total number of hours worked.
B. The amount of money you're paid after all taxes and deductions are taken out of your paycheck.
C. The amount of money you're paid before all taxes and deductions are taken out of your paycheck.
D. Your gross pay plus any bonuses.
What is the difference between gross and net pay?
A. Gross pay is after taxes are subtracted but net pay is before taxes are taken out.
B. Gross pay is before taxes are subtracted but net pay is after taxes are taken out.
C. Gross and net pay are basically the same things.
D. Net pay is a salary and gross pay is from hourly wages.
The amount of money you're paid, after all taxes and deductions are taken out of your paycheck is called ________.
A. gross pay
B. net pay
C. total pay
D. year-to-date pay
Which of the following is NOT a possible tax or deduction that could be withdrawn from your paycheck?
A. State income tax
B. Contributions to retirement savings
C. FICA
D. Sales tax
Which of the following is NOT a possible tax or deduction that could be withdrawn from your paycheck?
A. FICA
B. Overtime pay
C. Federal income tax
D. Contributions to retirement savings
What is the purpose of the W-4 form?
A. To file your tax return.
B. To determine how much your gross pay should be.
C. To inform your employer of how much federal income tax to withhold from your paychecks.
D. To avoid paying income taxes on your paychecks.
Your employer sends you a _______ form that tells you how much you've made and
how much you've paid in taxes in the last year.
A. 1040
B. W-2
C. W-4
D. W-9
Which of the following statements is true about taxes?
A. Taxes pay for schools first responders and roads.
B. Taxes pay toll road fees and office buildings.
C. Taxes are only collected by the federal government.
D. Taxes are only collected by state governments.
What do taxes pay for?
A. Schools, government departments, roads, and emergency services
B. Privately-owned businesses
C. Operation of financial institutions
D. None of the above
How does the government pay for roads, schools, and emergency services?
A. They are funded through non-profits.
B. They are funded through taxes.
C. They are funded through charitable donations.
D. None of the above
Each year, you must file ____________________.
A. only your federal taxes since state taxes get filed every other year
B. only your state taxes since federal taxes are filed every four years
C. your federal taxes and state taxes if your state requires it
D. your federal, state, county and town taxes
The highest federal marginal income tax bracket rate on earned income in the United States is:
25%
37%
39.6%
50%
The maximum long-term capital gain tax rate that applies to a single individual with total taxable income less than $30,000 is:
0%
5%
10%
15%
Eric recently sold an investment for $1,000.He purchased the investment for $500 two years ago. Eric is single and has total taxable income of $25,000. What is Eric's tax on the gain on his investment
$0
$50
$75
$150
This is the person who owns a rental property
Tenant
Landlord
Co-Signer
Co-Op
This is the person who rents/lives in a property they do not own
Tenant
Landlord
Co-Signer
Co-Op
This is the money you pay to a landlord, each month, to live in their property
Lease
HOA Fee
Security Deposit
Rent
This is money you pay up front to cover any potential damages; this money is returned if there are no damages or lease violations
Lease
HOA Fee
Security Deposit
Rent
This is the contract you sign with a landlord that establishes the rent and rules for living in a rented property
Lease
HOA Fee
Security Deposit
Tenant
This is a house for two families/individuals; usually one family/individual lives on each side
Single Family Home
Apartment
Condo (Condominum)
Duplex
This is a residential building or group of buildings where each unit is individually owned, but common areas and amenities are jointly owned and managed by the homeowners association
Single Family Home
Apartment
Condo (Condominum)
Duplex
Bethany makes $54,500 per year. How do you figure out her gross monthly income?
54,500 ÷ 12
54,500 × 12
54,500 ÷ 24
54,500 ÷ 6
A renter should budget _____ - _____ of his/her gross monthly income.
25-30%
20-30%
30-35%
15-30%
Bethany earns $3,840 per month. She wants to find an apartment to rent, and wants to use 28% of her monthly income. How much is the monthly rent?
0.38(3840) = $1459.20
0.28(3840) = $1075.20
2.8(3840) = $10752
0.25(3840) = $960
APR stands for
annual percentage rate
annual property rate
another percentage rate
AAPL, TSLA, FB, and TWTR are examples of
Ticker Symbol
Uptick
Shareholders
Stock Signs
A stockholder's share of the company's profit
Dividend
Par Value
Share
Yield
What is the primary stock exchange in the U.S?
New York Stock Exchange
NASDAQ
S&P 500
Dow Jones
Reviews stock prices from 30 companies to determine the health of the stock market
Dow Jones
S & P 500
New York Stock Exchange
NASDAQ
Follows 500 stock prices to measure the health of the market
Dow Jones
S & P 500
NYSE
NASDAQ
Interest upon interest is called
A good deal
Compound Interest
Principle
A double standard
Which of the below is an employer based retirement plan that both employees and employers contribute to?
Traditional IRA
Roth IRA
401K
Pension
Usually, when there is high demand (want) for ownership of a particular company or a product made by that company, what happens to the price of that company’s stock?
goes up
goes down
stays the same
True or false: a company's value = its stock price
true
false
What is a mutual fund?
A share of stock that provides the owner with voting rights.
A collection of investors who pool their money to start a business before taking it public.
A cultivated collection of stocks that can be purchased as a group.
A way of buying partial ownership in a non-public company.
Which company saw the most shares of stock traded in one day?
Company A
Company B
Company C
Company D
Which company provided the highest dividends?
Company A
Company B
Company C
Company D
Buying individual stocks is traditionally a safer investment than mutual funds.
True
Flase
Stocks are an example of "passive income".
True
False
The primary reason a company might split its stock is to do what?
Adhere to SEC stock level mandates.
Make the stock more affordable.
Reclassify it as a blue chip stock.
Raise its dividend level.
If you purchase a stock with the intention of holding on to it for 20 or more years, what is the best course of action when the price drops significantly?
Ignore the change and hold on to the stock.
Immediately sell the stock to avoid further losses.
Research the company and determine if the stock is likely to rebound before making any moves.
