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- 1. Multiple Choice
For most careers, which degree will most likely result in the highest lifetime earnings?
High school degree
Associate's degree
Licensure or certification
Bachelor's Degree
- 2. Multiple Choice
What is net pay?
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.
- 3. Multiple Choice
Which of the following is a possible tax or deduction that they may show up on your paycheck?
Federal income tax
Contributions to retirement savings
FICA
All of the above
- 4. Multiple Choice
When you start a new job, you fill out a W-4 form to _________.
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.
- 5. Multiple Choice
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.
1040
W-2
W-4
W-9
- 6. Multiple Choice
Which of the following statements is true about taxes?
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
- 7. Multiple Choice
How does the government pay for roads, schools, and emergency services?
They are funded through non-profits
They are funded through taxes.
They are funded through charitable donations.
None of the above
- 8. Multiple Choice
The ___________ is a flexible market that allows you to work short-term, independent jobs.
gig economy
labor market
employee workforce
sharing economy
- 9. Multiple Choice
What do you need in order to fill out your 1040?
Your W-2
Your routing and bank account number
A record of any other supplemental income
All of the above
- 10. Multiple Choice
What do you NOT need in order to fill out your 1040?
Your W-2
Your routing and bank account number
A record of any other supplemental income
Your employer benefits documentation
- 11. Multiple Choice
When considering a job offer, you should only consider how much you're being paid before you accept the
offer.
TRUE
FALSE
- 12. Multiple Choice
Which of the following is NOT considered part of your benefits package available from your employer?
Free technology equipment
Disability Insurance
Paid time off
Healthcare insurance
- 13. Multiple Choice
Healthcare, paid time off, disability insurance, and matching contributions to a retirement account are all
types of _________ available from your employer.
benefits
pensions
deductions
allowances
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