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Paycheck Quiz

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1.
1 point
Only about half of the employees in the US pay into Social Security and Medicare.
2.
1 point
A bank WILL profit from the fees charged to employees and employers for using a payroll card.
3.
1 point
Net pay is what you earn before taxes are deducted.
4.
1 point
Receiving an actual paycheck is the least secure way for an employer to pay you.
5.
1 point
There is no legal protection for consumers whose paychecks get stolen.
6.
1 point
Most employees are either paid an hourly wage or an annual salary.
7.
1 point
All employees are paid weekly.
8.
1 point
In order to be lawfully employed, you must fill out a W-2 before you can start workinig.
9.
1 point
Direct deposit is the most common payment method.
10.
1 point
When employees have their money directly deposited, the employee doesn't receive a paycheck -- only a paystub.
11.
1 point
The medicare tax rate for all employees is 6.2%.
12.
1 point
If you are paid through a payroll card, the most you would have to pay is $500 if your card is lost or stolen, if reported in an appropriate amount of time.
13.
1 point
People have about half of their income taken out for income taxes.
14.
1 point
With a payroll card, you would have 24-hour access to funds and the ability to make online purchases easily.
15.
1 point
There are many fees associated with direct deposit.
16.
1 point
Gross pay is what you earn after taxes.
17.
1 point
If you live with your parents, it's likely they use you as an allowance on their income taxes.
18.
1 point
State withholding tax represents the largest amount of money withheld from an employee's gross income.
19.
1 point
There are many fees associated with payroll cards.
20.
1 point
The social security tax rate for all employees is 1.45%.
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