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- 1. Multiple Choice
Your abilities include...
The things you do well
Your mental competence
The skill you need to do something
All of the above
- 2. Multiple Choice
Career planning is done...
After high school
) In college
Throughout a lifetime
Once in a lifetime
- 3. Multiple Choice
Who pays taxes?
Most people who have a job
Most people who purchase items
Most people who purchase items c) Most people who own property
All of the above
- 4. Multiple Choice
What are the three main types of taxes?
Income, sales, and property
Unemployment, sales, and property
Federal income, unemployment, and state
Sales, property, and unemployment
- 5. Multiple Choice
What is Social Security?
A private insurance system just for the elderly
A free insurance system
The amount of money someone has
None of the above
- 6. Multiple Choice
The purpose of taxes is to...
Improve roads
Support government
Pay retirement benefits
All of the above
- 7. Multiple Choice
Who pays into Social Security?
Employees
Self-employed
Employers
All of the above
- 8. Multiple Choice
Federal, Social Security, and Medicare are all types of taxes.
True
False
- 9. Multiple Choice
The total amount of earnings made over a one-year period after all deductions have been taken is known as...
Gross annual income
Gross monthly income
Net annual income
Net monthly income
- 10. Multiple Choice
The total amount of earnings made over a month, before any deductions, is known as...
Gross annual income
Gross monthly income
Net annual income
Net monthly income
- 11. Multiple Choice
Tina will be working at the municipal swimming pool as a lifeguard this summer. She will earn $1,000 per month (a total of $3,000 for the whole summer). Tina does not plan to work any other jobs this year.
What is Tina’s gross annual income (GAI)?
$3,000
$2,659. 27
$2,460.10
$4,000
- 12. Multiple Choice
Tina will be working at the municipal swimming pool as a lifeguard this summer. She will earn $1,000 per month (a total of $3,000 for the whole summer). Tina does not plan to work any other jobs this year. Answer the questions:
Tina’s total paycheck deductions are listed below. Add these amounts together to determine her total paycheck deductions for the three months.
» $255.90 federal income tax (summer total)
» $114.00 state income tax (summer total)
» $186.00 Social Security, or FICA (summer total)
» $43.50 Medicare tax (summer total)
$255.90
$186.00
$441.90
$599.40
- 13. Multiple Choice
Tina will be working at the municipal swimming pool as a lifeguard this summer. She will earn $1,000 per month (a total of $3,000 for the whole summer). Tina does not plan to work any other jobs this year. Answer the questions:
What is Tina’s gross monthly income for each of the summer months (GMI)?
$3,000
$1,000
$2,000
$1,500
- 14. Multiple Choice
Tina will be working at the municipal swimming pool as a lifeguard this summer. She will earn $1,000 per month (a total of $3,000 for the whole summer). Tina does not plan to work any other jobs this year. Answer the questions:
What is Tina’s net monthly income for each of the summer months (NMI)?
$500.00
$650.25
$800.20
$1,000.00
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