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25 questions
The Internal Revenue Service (IRS) is the federal government agency responsible for:
Tax collecting and law enforcement
writing tax laws
keeping the unemployment rate low
Filling out your tax forms
What is the difference between gross pay and net pay?
Net pay describes your pay after deductions, gross pay is before
Gross pay describes your pay after deductions; net pay is before
Gross and net pay are the same
none of the above
Sales tax and excise tax are both taxes on:
Consumption
Property
Wealth
Income
Which of the following should not be a major consideration when it comes to selecting your correct path?
What you are naturally good at
What your parents think you should do
What you are passionate about
What your interests are
Which of the following are characteristics of an effective goal?
It should be vague
It should be easy to accomplish
It should be determined by your your friends or parents
It should be measured and specific
Which of the following statements about goal setting is false?
You should make your goals challenging yet attainable.
You should share your goals with the people closest to you
Once you've written your goals down, you should put the list away and check it in a year to see if you've achieved them
Your goals should have time limits.
When it comes to mentoring, you should not:
Continue the mentoring cycle by one day becoming a mentor yourself
Choose wisely
Find and keep a single mentor
Follow through and act on what you learned
When applying for a job, you should:
Provide a resume and cover letter
Follow up with the employer
Present yourself well
All of the above
During your first interview with a company, you should not:
Show interest and be enthusiastic
Ask about salary
Be personable and try to connect with the interviewer
Bring extra copies of your resume
The government relies on taxes to:
Remind citizens of the government's power
Burden the public with an extra expense
Pay for services such as roads, education, and social services
All of the above
The day that income tax filings are due in the United States:
June 15
January 1
April 15
December 1
When a company hires you, you fill out a ____ form. The information on this form is the basis for determining how much income tax should be withheld from your paycheck
W-4
W-2
1040EZ
1099
This tax pays for benefits that workers and families receive for either Social Security or Medicare
State income tax
Sales tax
Federal Insurance Contributions Act (FICA)
Excise Tax
Income generated by selling an investment at higher price than you paid for it.
Portfolio Income
Passive Income
Earned Income
Secondary Income
Which of the following statements about taxes is false?
The primary taxes on consumption are sales and excise taxes
Three taxes are deducted from your paycheck: federal income tax, state income tax, and FICA
Not all types of income are taxed; while earned income and passive income are taxed, portfolio income is not taxed
Taxes on wealth and property include property taxes, taxes on inheritance, estate taxes, and gift taxes
The amount of money a profession brings should be your first priority in selecting you career.
True
False
Since the job market constantly changes, odds are that you will work in more than one career field in your lifetime.
True
False
People who fall under the stabilizing characteristics in the DISC profile are likely to be calm and dislike conflict.
True
False
Even though your knowledge and work experience will change throughout your life, you'll never outgrow who you are.
True
False
You should only make and focus on one goal at a time
True
False
It is expected that young adults will achieve the same standard of living as their parents shortly after graduating from college.
True
False
Early work experiences prior to your career job really have no benefit other than providing a small income.
True
False
As you acquire more education and experience, your income and choice of jobs should rise as well.
True
False
Without contentment, your whole life will be jumping from one thing to another, always hoping that the next thing will be the thing that makes you happy.
True
False
After an interview, you should be patient and wait for the employer to contact you so that you don't appear overly eager for the position.
True
False
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