How do wages and salary differ?
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Budgeting
Quiz
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Life Skills
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9th - 12th Grade
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Medium
Next Gen Personal Finance undefined
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20 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Wages describe what you earn on an annual basis
Salary describes what you earn on an annual basis
Wages mean you have a standard amount in each paycheck
Salaried employees are likely to be paid for overtime
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following are TRUE about gross income and net income?
They are the same thing
Gross income is the total amount earned AFTER deductions
Gross income is the total amount earned BEFORE deductions
Net income is the total amount earned BEFORE deductions
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following may NOT always appear on your paycheck stub?
Gross Pay
Net Pay
Your Role/Title
Local Tax
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It's common to have all of the following expenses BEFORE signing a lease EXCEPT...
Renter's Insurance
Application fee
Application deposit
Apartment hunting expenses
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following might you pay WHEN you sign your lease?
Finder's fee
Application fee
Security deposit
Renter's insurance
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to a rule of thumb, rent shouldn't take up more than ___ % of your take-home pay.
7-12%
10-15%
15-20%
25-30%
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a step you can take to mitigate the risk of buying a used car?
Get a vehicle history report
Have a mechanic inspect the car after you buy it
Skip the test drive; you have time after you buy it to drive
Buy a more expensive vehicle to ensure quality
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