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Personal Finance I

Quiz by Rachel Murat

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11 questions
Show answers
  • Q1
    Total amount of money earned before deductions are taken
    Gross Wages
  • Q2
    Year to Date
  • Q3
    things like social security, medicare, state income tax, federal income tax
  • Q4
    Gross wages minus deductions
    Net Pay
  • Q5
    based on income level; progressive tax; goes to the US government
    Federal Income tax
  • Q6
    based on income level; progressive tax; goes to the state government
    State income tax
  • Q7
    Federal Income Contributions Act; Funds Medicare
    FICA Med Tax
  • Q8
    Federal Income Contributions Act; Funds Social Security
    FICA SS Tax
  • Q9
    State Disability Insurance (not all states have this)
  • Q10
    typically lower paying jobs, usually eligible for overtime, typically fewer vacation/personal/sick days, hours usually fluctuate each week
    hourly employee
  • Q11
    typically higher paying jobs, not usually eligible for overtime but may be eligible for bonuses, typically more vacation/personal/sick days, hours don't usually fluctuate each week
    salary employee

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