Personal Finance Final Exam Answers
and Questions Graded A+
Specific tasks you can do, such as prepare a spreadsheet or operate a machine, are
known as - Correct answer-Job Skills
A principle that reflects the worth you place on an idea or action is known as a(n) -
Correct answer-Value
When the economy is slowing down, - Correct answer-people often buy fewer
goods and services
The charge for instruction at a school is called - Correct answer-Tuition
A system of moral values that people consider acceptable is called - Correct
answer-Ethics
A simple federal tax return form designed for use by single and joint filers with no
dependents is - Correct answer-Form 1040EZ
Overtime pay for hours worked above 40 hours in 1 week must be at least - Correct
answer-1-1/2 times the regular rate
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, A percentage of a sale paid to the salesperson is called a - Correct answer-
Commission
The amount left after all costs are deducted from the income of a business is called
- Correct answer-Profit
A benefit often received by full-time workers is - Correct answer-ALL ANSWERS
ARE CORRECT (sick leave pay, vacation pay, health insurance)
Programs that reimburse employees for education costs - Correct answer-can
benefit the company because the worker has better skills
Workers' compensation insurance
**tip: read the answers carefully and choose the BEST answer. - Correct answer-
pays medical and disability benefits to workers who are injured on the job AND
may pay benefits to a worker's family if the worker is killed on the job
Dividends are
**tip: read the answers carefully and choose the BEST answer. - Correct answer-
money shared with stockholders when a corporation makes profits AND a form of
unearned income
Which of the items listed is a required deduction from a worker's paycheck? -
Correct answer-federal income tax
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
and Questions Graded A+
Specific tasks you can do, such as prepare a spreadsheet or operate a machine, are
known as - Correct answer-Job Skills
A principle that reflects the worth you place on an idea or action is known as a(n) -
Correct answer-Value
When the economy is slowing down, - Correct answer-people often buy fewer
goods and services
The charge for instruction at a school is called - Correct answer-Tuition
A system of moral values that people consider acceptable is called - Correct
answer-Ethics
A simple federal tax return form designed for use by single and joint filers with no
dependents is - Correct answer-Form 1040EZ
Overtime pay for hours worked above 40 hours in 1 week must be at least - Correct
answer-1-1/2 times the regular rate
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, A percentage of a sale paid to the salesperson is called a - Correct answer-
Commission
The amount left after all costs are deducted from the income of a business is called
- Correct answer-Profit
A benefit often received by full-time workers is - Correct answer-ALL ANSWERS
ARE CORRECT (sick leave pay, vacation pay, health insurance)
Programs that reimburse employees for education costs - Correct answer-can
benefit the company because the worker has better skills
Workers' compensation insurance
**tip: read the answers carefully and choose the BEST answer. - Correct answer-
pays medical and disability benefits to workers who are injured on the job AND
may pay benefits to a worker's family if the worker is killed on the job
Dividends are
**tip: read the answers carefully and choose the BEST answer. - Correct answer-
money shared with stockholders when a corporation makes profits AND a form of
unearned income
Which of the items listed is a required deduction from a worker's paycheck? -
Correct answer-federal income tax
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
