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Chapter 3 Quiz - Education & Careers

Total questions: 12

Worksheet time: 7mins

Name
Class
Date
1.
The amount of money you get in your paycheck AFTER taxes are taken out is called...
a)
Withholding
b)
Gross Pay
c)
Benefits
d)
Take-home or Net Pay
2.
Non-money compensation provided by your employer is called...
a)
Withholding
b)
Gross Pay
c)
Benefits
d)
Take-home or Net pay
3.
The amount of money you get in your paycheck BEFORE taxes are taken out is called...
a)
Withholding
b)
Gross Pay
c)
Benefits
d)
Take-home or Net Pay
4.
Money which is taken out of your paycheck for taxes is called...
a)
Withholding
b)
Gross Pay
c)
Benefits
d)
Take-home or Net Pay
5.
Someone who starts and runs their own business is called an...
a)
Employee
b)
Employer
c)
Entrepreneur
d)
Expense
6.
How much more money PER YEAR could you earn with a college degree?
a)
$5,000 - $20,000 more per year
b)
$10,000 - $25,000 more per year
c)
$15,000 - $30,000 more per year
d)
$20,000 - $35,000 more per year
7.
What percentage of millionaires are business owners?
a)
5%
b)
20%
c)
47%
d)
30%
8.
What is the difference between College and University? (select all that apply)
a)
Colleges are typically smaller and universities are typically larger
b)
They may offer different degree programs
c)
They may have different resources available for students like housing, sports, clubs, tutoring centers.
d)
Nothing is different - Colleges and Universities are exactly the same
9.
Earning an Associates degree is usually half the credits and classes of earning a Bachelors degree
a)
True
b)
False
10.

READ CAREFULLY!!!! (Select all that apply)

What can you do to cut the costs of college? 

a)

Get good grades in MS and HS to better qualify for scholarships

b)

Apply for scholarships and grants

c)

Save money now

d)

Try various electives and after school activities to better qualify for scholarships

e)

Take Advanced/College credit classes in high school

11.

READ CAREFULLY!!!! (Select all that apply)

What can you do to cut the costs of college? 

a)

Go to a Community College for the first year or two

b)

Buy used textbooks

c)

Go to an in-state school and/or apply for the Western University Exchange

d)

Live at home with your parents for the first year or two after HS

e)

Have a part-time job while you are in school

12.

What is the best way to become a millionaire?

Select ALL that apply

a)

Save and Invest

b)

Start a small business

c)

Win the lottery

d)

Become Famous