Personal Financial Literacy Quiz - 5.10
Quiz by Amanda Perales
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9 questions
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- Q1What is the one type of tax that all people pay, whether or not they have jobs or own property such as a home?Sales TaxProperty TaxIncome TaxPayroll Tax30s
- Q2Eve earns $30 per hour and works 50 hours per week. On her weekly paycheck, she pays $93 for Social Security, $22 for Medicare, $150 for federal tax, and $75 for state tax. What is Eve’s net pay?$1,235$1,500$1,160$34030s
- Q3Net income is —the Newest Earning Time (most-recent income).the same as your take home pay.income before deductions, except for insurance payments.the part of income that is paid in taxes.30s
- Q4How are gross income and net income different from each other?Gross income is the budgeted amount and net income is the amount you actually get paid.Gross income is the amount you have to pay in taxes and net income is the taxes plus the amount you take home.Gross income is your hourly rate times your hours and net income is the amount you have left after payroll expenses.Gross income is the lower income you make when you first start and net income is the higher amount you make after you have experience.30s
- Q5Which form of payment is most likely to be used in case of an emergency event, such as getting a car towed?Gift CardCredit CardDebit CardCash30s
- Q6If your expenses are more than your income, the first thing you should do is to —cut back on every expense you possibly can.get another charge card so you can buy what you want.cheer up with dinner and a movie with friends.quit your job and start looking for a better one.30s
- Q7The table shows Pablo’s income and expenses. What is Pablo’s current balance?Has $125Has $150.Owes $125Owes $15030s
- Q8Mrs. Liles pays a tax eery year because she owns a house. Which term best describes this tax?Income TaxSales TaxProperty TaxPayroll Tax30s
- Q9Mrs. Nguyen needs help balancing her checking account. She has a spending problem and doesn't know how much money is currently in her account.$285$5,650$3,185$3,00030s
