Chapter 6 Financial Literacy

If you got paid bi-montjly, how many pay checks would you get in one year?

Employees become ______ after a period of time as an employee. This entitles them to the full retirement account

How much is your social security tax that includes medicare?

Which one is not considered a deduction.

Companies may offer this benefit to their employee to improve employee morale and working conditions

A policy where the longer your work for an employer, the more job security and rights you have.

A job designed in which two employees share one full-time job is call family medical leave.

If you get paid on a weekly basis, how many paychecks do you get in a year?

A compressed work week schedule that fits the normal 40-hour a week in less than 5 days is called a compressed workweek.

Self-governing organizations where membership is limited to those who are in a trade.

How much social security tax would a self-employed person pay?

The total amount you earn before any deductions are subtracted

To calculate over time pay, you multiply the hourly wage by 1.25%

Incentive pay on quality of work done, years of service, or company sales/profits

Benefits are a form of employee compensation in addition to their pay.

If you claim 3 on your W-4 form, more taxes will be taken out of your paycheck.