Everfi PF Module 2 Income & Employment
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  • Question 1
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    Q.

    Generally, the more education you receive, the higher your lifetime earnings will be.

    answer choices

    True

    False

  • Question 2
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    Q.

    There is no relationship between the level of education received and lifetime earnings.

    answer choices

    True

    False

  • Question 3
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    Q.

    For most careers, which degree will most likely result in the highest lifetime earnings?

    answer choices

    High school degree

    Associate's degree

    Licensure or certification

    Bachelor's Degree

  • Question 4
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    Q.

    What is net pay?

    answer choices

    The amount of pay earned for the total number of hours worked.

    The amount of money you're paid after all taxes and deductions are taken out of your paycheck.

    The amount of money you're paid before all taxes and deductions are taken out of your paycheck.

    Your gross pay plus any bonuses.

  • Question 5
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    Q.

    Net pay is NOT ________.

    answer choices

    The money that you take home on your paycheck.

    Your gross pay plus any bonuses.

    less than gross pay.

    The amount of money you're paid after all taxes and deductions are taken out of your paycheck

  • Question 6
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    Q.

    The amount of money you're paid, after all taxes and deductions are taken out of your paycheck is called

    ________.

    answer choices

    Gross pay

    Net pay

    Total pay

    Year-to-date pay

  • Question 7
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    Q.

    Which of the following is a possible tax or deduction that they may show up on your paycheck?

    answer choices

    Federal income tax

    Contributions to retirement savings

    FICA

    All of the above

  • Question 8
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    Q.

    Which of the following is NOT a possible tax or deduction that could show up on your paycheck?

    answer choices

    State income tax

    Contributions to retirement savings

    FICA

    Sales tax

  • Question 9
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    Q.

    Which of the following is NOT a possible tax or deduction that could come out of your paycheck?

    answer choices

    FICA

    Overtime pay

    Federal income tax

    Contributions to retirement savings

  • Question 10
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    Q.

    What is the purpose of the W-4 form?

    answer choices

    To file your tax return.

    To determine how much your gross pay should be.

    To inform your employer of how much federal income tax to withhold from your paychecks

    To avoid paying income taxes on your paychecks.

  • Question 11
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    Q.

    The W-4 tax form is used to ___________.

    answer choices

    tell your employer how much federal income tax to withhold from your paychecks to send to the IRS.

    determine how much your gross pay should be.

    file your tax return

    avoid paying income taxes on your paychecks.

  • Question 12
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    Q.

    When you start a new job, you fill out a W-4 form to _________.

    answer choices

    determine how much your gross pay should be.

    file your tax return.

    avoid paying income taxes on your paychecks

    to determine how much federal income tax your employer should withhold from your paychecks

  • Question 13
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    Q.

    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.

    answer choices

    1040

    W-2

    W-4

    W-9

  • Question 14
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    Q.

    What does the W-2 form tell you?

    answer choices

    How much you've earned and how much taxes you've paid in the last year.

    When to file your tax return.

    How much federal income tax your employer will withhold from your paycheck

    How often your employer will be paying you.

  • Question 15
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    Q.

    The W-2 form is a form that tells you _______.

    answer choices

    how often you will be paid.

    how much taxes you owe to the federal government.

    how much taxes to withhold from your paycheck

    how much taxes you've paid in the last year based on how much you've earned

  • Question 16
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    Q.

    Which of the following statements is true about taxes?

    answer choices

    Taxes pay for schools and government departments

    Taxes pay for roads and emergency services.

    Taxes are often used at the federal, state, and local levels.

    All of the above

  • Question 17
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    Q.

    What do taxes pay for?

    answer choices

    Schools, government departments, roads, and emergency services

    Privately-owned businesses

    Operation of financial institutions

    None of the above

  • Question 18
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    Q.

    How does the government pay for roads, schools, and emergency services?

    answer choices

    They are funded through non-profits.

    They are funded through taxes.

    They are funded through charitable donations

    None of the above

  • Question 19
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    Q.

    The ___________ is a flexible market that allows you to work short-term, independent jobs.

    answer choices

    gig economy

    labor market

    employee workforce

    sharing economy

  • Question 20
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    Q.

    What is the gig economy?

    answer choices

    The number of people in the economy who have full-time employment jobs.

    The total availability of employment and labor in the economy.

    An economic system in which assets or services are shared between individuals.

    A flexible market that allows you to work short-term, independent jobs.

  • Question 21
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    Q.

    The gig economy offers ________

    answer choices

    the total availability of employment and labor in the economy

    Flexible, short-term, and independent jobs.

    An economic system in which assets or services are shared between individuals.

    The migration of workers to high-tech jobs.

  • Question 22
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    Q.

    What do you need in order to fill out your 1040?

    answer choices

    Your W-2

    Your routing and bank account number

    A record of any other supplemental income

    All of the above

  • Question 23
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    Q.

    What do you NOT need in order to fill out your 1040?

    answer choices

    Your W-2

    Your routing and bank account number

    A record of any other supplemental income

    Your employer benefits documentation

  • Question 24
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    Q.

    What do you need in order to fill out your 1040?

    answer choices

    Your W-2

    Your employer benefits documentation

    Your credit card statement

    Your job offer

  • Question 25
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    Q.

    When considering a job offer, you should only consider how much you're being paid before you accept the

    offer

    answer choices

    True

    False

  • Question 26
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    Q.

    When considering a job offer, you should consider how much you're being paid and any other employee

    benefits before you accept the offer.

    answer choices

    True

    False

  • Question 27
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    Q.

    How much you're being paid is the only thing you need to consider when considering a job offer.

    answer choices

    True

    False

  • Question 28
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    Q.

    Which of the following is NOT considered part of your benefits package available from your employer?

    answer choices

    Free technology equipment

    Disability Insurance

    Paid time off

    Healthcare insurance

  • Question 29
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    Q.

    All of the following may be a part of your benefits package available from your employer, except:

    answer choices

    disability insurance

    matching contributions to a retirement account

    FICA

    healthcare insurance

  • Question 30
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    Q.

    Healthcare, paid time off, disability insurance, and matching contributions to a retirement account are all

    types of _________ available from your employer.

    answer choices

    benefits

    pensions

    deductions

    allowances

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