stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Literacy Flashcards | StudBud
Explore
/
Financial Literacy
Financial Literacy
27 terms
·
StudBud Administration
·
472 plays
Financial Literacy
Flashcards
27 cards
F
Practice quiz
P
Host live
L
Questions
27
Answers
1
John makes $8/hr. He worked 42 hours this week & 3 hours on weekend. Calculate DOUBLE TIME PAY
$16
$48
$32
$62
2
State of owing money to someone
Budget
P.T.O.
debt
profit
3
Sammy makes $10/hr. He works 45 hours this week. What is his gross pay
$475
$450
$425
$400
4
Anything you own that puts money into your pocket
Asset
expense
Liability
seamstress
5
What is the max an employer will match your 401K contribution?
2%
6.2%
1.45%
3%
6
Tom is a salaried employee. He worked 76 hours this week. How many hours overtime does he get?
10
26
36
0
7
John worked makes $20/hr. He worked 6 hours on a Federal Holiday. What is his pay rate?
$50/hr
$30/hr
$60/hr
$40/hr
8
Jim worked 39 hours this week. How many hours of overtime did he work?
4
3
9
0
9
John makes $8/hr. He worked 42 hours this week & 3 hours on the weekend. Calculate OVERTIME PAY
$24
$40
$16
$32
10
A mandatory payroll tax that is a total of 7.65% of your gross pay
State Tax
Hurricane Relief Tax
Income Tax
FICA Tax
11
Tom is a salaried employee. His job shut down 3 days for Hurricane Irma. Does he get paid?
Yes
No
12
Overtime pay is
1.75 times your regular pay rate
1.5 times your regular pay rate
1.25 times your regular pay rate
2 times your regular pay rate
13
What percentage of your pay check goes to Social Security?
6.2%
5.5%
3.5%
1.45%
14
A statement of estimated income and expenses for a period of time. A plan for using your money.
Net Income
Budget
Asset
Financial Literacy
15
Employer
A person who works for a company
A company that provides work for someone and pays them
Parent Teacher Organization
16
What does F.I.C.A. stand for?
First In-Come Act
Funded Interest Care Act
Federal Inployment Conditions Access
Federal Insurance Contributions Act
17
John makes $8/hr. He worked 42 hours this week & 3 hours on the weekend. Calculate REGULAR PAY
$445
$460
$360
$320
18
What constitutes a full time work week
35 hours
50hours
40 hours
35 hours
19
Workers who are paid by the hour and can receive over time or double time pay
Salaried employee
Volunteer employee
Veteran employee
Wage employee
20
A type of job wherein the worker gets paid a set amount no matter how many hours are worked
volunteer
salaried
wage
at will
21
What percentage of your check goes to Medicare Insurance
1.45%
2%
1.9%
2.2%
22
Money left over after deductions
Tax Deductions
Overtime
Net Income
Gross Income
23
Which of the following is NOT a payroll deduction
State Taxes
401K
Cell Phone bill
health insurance
24
Jim is a wage employee. His job closed for 2 days for Hurricane Irma. Does he get paid?
No
Yes
25
401K contributions are totally tax free
True
False
26
John makes $20/hr. He worked 10 hours on Thanksgiving. What is his gross pay that day.
$300
$200
$350
$400
27
Which of the following is NOT a "Pre-Tax" payroll deduction
Social Security
Vision
Dental
Health
