Employment Benefits And Deductions Question Preview (ID: 59356)
Personal Finance.
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An account you fill with pre tax dollars to use on medical needs.
a) FSA
b) HA
c) CSA
d) HRA
Which of these are benefits of a job as the term is used in this lesson?
a) 401K
b) Location
c) Salary
d) Purpose
Which of these might workers’ compensation provide in at least some circumstances?
a) payments to the family of a worker who died.
b) medical treatment for injuries caused by a car crash that occurred while an employee was on vacation
c) payments to a worker after they retire
d) training to prepare an employee who was disabled by a workplace accident
What is an advantage of investing pre-tax dollars in a retirement account?
a) You will have that money to live on after you retire.
b) You can work less now because you will have money to spend later.
c) If you withdraw the saved money after retirement, you will most likely pay a lower tax rate on it.
d) As more time passes after you retire, your payments become larger.
Last year, $3,155.24 was withheld from your pay for federal taxes. When you calculate the amount of federal tax you owe, it comes to $2,791.80. What does this mean?
a) You will owe more money at tax time.
b) You will get a refund when you file your taxes.
c) You lost $363.44.
d) You don't have to pay taxes next year.
What provides medical coverage for people over the age of 65?
a) HSA
b) Medicare
c) 401K
d) Social Security
Who usually pays the premium on health insurance offered by employers?
a) Employer
b) Employee
c) Taxes cover the amount
d) Employer pays part and the employee pays the rest
Money withheld from an employees paycheck.
a) Fraud
b) Withholdings
c) Gross Pay
d) Net Pay
The difference between Medicare and Social Security is only one is government run.
a) True
b) False
c)
d)
A deduction can be mandatory or voluntary.
a) True
b) False
c)
d)
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