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PF 4.01
Test Description: 4.01 questions and vocab
Instructions: Answer all questions to get your test result.
1) Blake works forty hours a week and earns a set amount of wage per hour. What type of wage is this?
A
Overtime
B
Part-time
C
Flexible/seasonal
D
Full-time
2) The book salesman earned 10% of the purchase value of every book he sold. What form of monetary compensation is this?
A
Salary
B
Commission
C
Gratutity
D
Wage
3) Ben’s receives his pay every month with a stub showing pay deductions and takes it to the bank to deposit. What form of payment for work is this?
A
Payroll card
B
Monthly paycheck
C
Direct deposit
D
Weekly paycheck
4) Janet received from her employer in January a form showing all of her salary income for the past year. What type of form is this?
A
Form 1099
B
Form 1040
C
W-2
D
W-4
5) Sharon’s husband divorced her and left her alone to care for their three children three years ago. What is Sharon’s filing status?
A
Single
B
Married
C
Married filing a joint return
D
Married filing a separate return
6) What is the definition of gross pay?
A
The amount of money paid for a specified quantity of labor.
B
A set amount of money paid for a set period of time worked.
C
The amount of money left after all the deductions have been taken from the gross pay earned in the p
D
The total amount of money earned during the pay period before deductions.
7) What is the definition of net pay?
A
The total amount of money earned during the pay period before deductions.
B
The amount of money left after all the deductions have been taken from the gross pay earned in the p
C
Money paid by customers to those who provide services.
D
The total amount of money earned during the pay period before deductions.
8) What is a W-2 form
A
They impose a higher tax rate on those with lower incomes than those with higher
B
Employment Eligibility Verification Form---the information on this form is for employers to verify t
C
States the amount of money earned and taxes paid throughout the previous year
D
An employee’s withholding certificate---the information provided on this form determines the percent
9) What is a wage?
A
The amount of money paid for a specified quantity of labor.
B
Money paid in addition to base pay, either as a reward for performance or as a share of profit.
C
Income paid as a percentage of sales made by a salesman
D
A set amount of money paid for a set period of time worked.
10) What is an I-9 form?
A
States the amount of money earned and taxes paid throughout the previous year
B
Employment Eligibility Verification Form---the information on this form is for employers to verify t
C
A compulsory charge imposed on citizens by local, state, or federal governments.
D
An employee’s withholding certificate---the information provided on this form determines the percent
*select an answer for all questions
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