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FHCE 3200 Quizzes Questions and Correct Answers/ Latest Update / Already Graded

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FHCE 3200 Quizzes Questions and Correct Answers/ Latest Update / Already Graded

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FHCE 3200 Quizzes Questions and Correct
Answers/ Latest Update / Already Graded
What should you do to accumulate wealth?



A. Keep your money working for you as long as possible.

B. Accumulate a surplus

C. Begin saving the surplus or a portion of the surplus as early as
possible

D. All of the above

Ans: D. All of the above


Mia worked 45 hours this week. Her base pay is $15 per hour. She earns
overtime pay for any work over 40 hours. What is Mia's gross pay this
week?



A. $845.50

B. $712.50

C. $600.50

D. $480.50

Ans: B. $712.50


All rights reserved © 2025/ 2026 |

, Page |2



which of the following describes all sources of money obtained by
individuals or households?

A. Commission

B. Income

C. Bonus

D. Wage

Ans: B. Income


Which of the following refers to your income before any taxes are
other expenses are deducted from your paycheck?



A. Annual income

B. Salary

C. Gross income

D. Net pay

Ans: C. Gross income


What is the recommended savings rate for individuals under the age of
30?


All rights reserved © 2025/ 2026 |

, Page |3



A. 10%

B. 20%

C. 15%

D. 12%

Ans: D. 12%


T/F: A payroll advance is a process by which an employer automatically
takes money from your paycheck and contribute to a retirement plan
or savings account.

Ans: False


The financial strategy that encourages individuals to commit to putting
half of every future raise towards savings is called __________?



A. Live More Tomorrow

B. Keep More Tomorrow

C. Save More Tomorrow

D. Give More Tomorrow

Ans: C. Save More Tomorrow


All rights reserved © 2025/ 2026 |

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