Final Review
The combination of salary and fringe benefits
an employer provides to an employee.
5 points
A. Transferrable skills
B. Income
C. Compensation package
D. Tax refund
Contacting employers after you've submitted
your resume
5 points
A. Networking
B. Non-verbal communication
C. Personal Mission statement
D. Follow-up
Working in your expected career field, either
during a semester or over the summer is
called
5 points
A. Internships
B. Networking
C. Follow-up
D. Compensation package
Involves developing a broad list of
contacts and encouraging them to assist
you in looking for a job.
5 points
A. Networking
B. Internships
C. Non-verbal communication
D. Transferrable skills
What you say to the interviewer through
activities such as a handshake, eye contact,
facial expressions (including smiling), body
posture, and hand gestures.
5 points
A. Non-verbal communications
B. Transferrable skills
C. Personal Mission statement
D. Follow-up
Helps job-seekers identify their core values
and beliefs
5 points
A. Personal mission statement
B. Non-verbal communication
C. Networking
D. Follow-up
Professionals who are paid by employers to
find candidates for specific positions
5 points
A. Networking
B. Non-verbal communication
C. Headhunters
D. Thank-you letters
A common courtesy after every interview, so
you'll stand out from the crowd.
5 points
A. Internships
B. Personal mission statement
C. Thank-you letters
D. Transferrable skills
Skills you have acquired during any activity in
your life that are transferable and applicable
to what you want to do in your next job.
5 points
A. Networking
B. Non-verbal skills
C. Internships
D. Transferrable skills
A benefit providing on-site facilities or
coverage of child-care expenses for
employees.
5 points
A. Sick pay
B. Employee services
C. Child care
D. insurance
Benefit that allows employees to receive a
portion of the company's profits at the end of
the corporate year. Also called incentive pay.
5 points
A. Pension and savings plan
B. Leave of absence
C. Profit sharing
D. Insurance
Benefit that gives employees the right to buy a
set number of shares of the company's stock
at a fixed price by a certain time.
5 points
A. Bonuses and stock options
B. Travel expenses
C. Pension and savings plan
D. Profit sharing
An allowance of days each year for illness,
with pay as usual.
5 points
A. Paid vacations and holidays
B. Cafeteria style benefits
C. Child care
D. Sick pay
Full-time employees receive a set amount of
paid vacation time. This means you get paid
as usual.
5 points
A. Sick pay
B. Paid vacation and holidays
C. Travel expenses
D. Profit sharing
Employer sponsored savings plans, such as
401(k) for private emplyers or a 403(b) for
government employees, which are retirement
plans
5 points
A. Leave of absence
B. Travel expenses
C. Child care
D. Pension and savings plans
Benefit that allows employees to temporarily
leave their jobs (without pay) for certain
reasons and return to their jobs at a later time.
5 points
A. Child care
B. Employee services
C. Leave of absence
D. Cafeteria style benefits
Benefit that often provides a company car or
mileage allowance for trips related to work.
5 points
A. Paid vacation
B. Pension and savings plan
C. Travel expenses
D. Profit sharing
Programs that allow workers to base their job
benefits on personal needs.
5 points
A. Child care
B. Sick pay
C. Travel expenses
D. Cafeteria style benefits
Health insurance that is provided by
employers. May include dental, vision and life
insurance.
5 points
A. Insurance
B. Sick pay
C. Child care
D. Pension and savings plan
To determine you gross pay when you receive
an hourly wage, you multiply your hourly rate
by the number of regular hours worked.
5 points
A. True
B. False
Annual salary refers to the amount of pay to
be received each month.
5 points
A. True
B. False
Overtime wages are usually calculated at two
times the regularly hourly rate.
5 points
A. True
B. False
A standard workweek is 40 hours in a five-day
period of 8 hours each day.
5 points
A. True
B. False
Social security tax is an example of a required
deduction from your paycheck.
5 points
A. True
B. False
The amount left after all deductions have been
subtracted from gross pay is known as net
pay.
5 points
A. True
B. False
Self-employed people do not have to pay
social security and Medicare taxes.
5 points
A. True
B. False
An explanation of pay computations and
deductions must be provided with each
paycheck.
5 points
A. True
B. False
John worked 40 hours at a regular rate of
$8.00. How much was his gross pay?
10 points
A. $320
B. $360
C. $48
D. $560
Morgan worked 28 hours at the regular rate
of $9.00 per hour. What was her gross pay?
10 points
A. $180
B. $200
C. $252
D. $320
If the regular hourly rate is $7.25, what is the
overtime rate?
10 points
A. $8.25
B. $7.25
C. $10.88
D. $14.50
If the regular hourly rate is $9.00, what is the
overtime rate?
10 points
A. $18.00
B. $13.50
C. $10.50
D. $9.00
Total income less statutory adjustments is
called
5 points
A. Regressive tax
B. Salary
C. Adjusted gross income
D. wages
Form that employers must provide to
employees by January 31 of each year that
gives annual income and withholding
information
5 points
A. Form W-2
B. Form W-4
C. Pay stub
D. Invoice
Money received from wages and salaries, rent,
interest, and profit
5 points
A. Tax refund
B. Compound interest
C. Income
D. Proportional tax
The federal agency that collects income taxes
in the United States
5 points
A. Federal Bureau of Investigation
B. Department of Human Services
C. Department of Homeland Security
D. Internal Revenue Service
Tax that takes the same percentage of income
from people in all income groups.
5 points
A. Progressive tax
B. Proportional tax
C. Regressive tax
D. Tax refund
Tax that takes a larger percentage of income
from people in higher-income groups than
from people in lower-income groups
5 points
A. Regressive tax
B. Progressive tax
C. Sales tax
D. Proportional tax
Compensation received by employees for
services performed paid as a fixed sum paid
for a specific period of time.
5 points
A. Salary
B. Wage
C. Tax refund
D. Credit card
Money owed by the government to taxpayers
when their total tax payments are greater
than the total tax.
5 points
A. Tax liability
B. Tax refund
C. Adjusted gross income
D. Proportional tax
Compensation received by employees for
services performed usually based on an
hourly rate of pay.
5 points
A. Wages
B. Salary
C. Tax return
D. 1040 EZ
When the interest you earn also earns interest
5 points
A. Complex interest
B. Double or nothing
C. Simple interest
D. Compound interest
Describes how quickly and conveniently you
can retrieve your money as cash
5 points
A. Savings accounts
B. Stocks
C. Liquidity
D. Certificates of deposit
When the amount of the checks you write is
greater than the amount of money in your
account
5 points
A. Deposit
B. Endorsement
C. Withdrawal
D. Overdrawn
Your signed approval (on the back of the
check) for a check to be cashed, deposited, or
assigned to someone else
5 points
A. Deposit ticket
B. Direct deposit
C. Endorsement
D. Automatic electronic transfer
Tells the bank to add money to your account
5 points
A. Check
B. Money order
C. Withdrawal slip
D. Deposit slip
The ability of a consumer to obtain goods or
services before payment, based on an
agreement to pay later.
5 points
A. Credit
B. Debit card
C. Interest
D. Incentive
The price of using someone else's money
5 points
A. Credit
B. Automatic electronic transfer
C. Incentives
D. Interest
A loan that is not backed up by collateral.
5 points
A. Unsecured loan
B. Secured loan
C. Interest
D. Debit card