MEL3E/4E Final Exam Review

A worker normally makes $18.00 per hour at her job.

How much is she required to be paid for overtime work?

• $18.00 per hour

• $20.00 per hour

• $27.00 per hour

• $36.00 per hour

If you make an annual salary of $42 500 per year, calculate the gross pay on each of your bi-weekly pay checks.

• $817.31

• $1634.62

• $1770.83

• $3541.676

Which of the following are STANDARD DEDUCTIONS from paychecks in Ontario?

• CPP

• EI

• Income Tax

• All of these are standard deductions.

If you normally get paid $20 per hour at your job and work 55 hours this week, how much will you get paid in total (including OT pay).

• $1100 for the week

• $1650 for the week

• $1210 for the week

• $1540 for the week

A Lancer Hoody normally sells for $49.99, but is on sale this week for 30% off.

Calculate the SALE PRICE.

• $1.50

• $15.00

• $34.99

• $64.99

LIDS has a BOGO 50% off sale.

If the hats are usually $29.99 each, estimate the price, including tax to buy two hats.

• $33.88

• $50.84

• $16.95

• $67.78

Which of the following investments will give you a Fixed Interest Rate.

• GIC

• Variable Rate Savings Account

• Mutual Funds

• Stocks

Which of the following lenders typically charge the HIGHEST INTEREST RATE on money that you borrow.

• Banks

• Credit Unions

• Credit Card Companies

• Pay-Day loan companies.

Which of the following actions will help you to IMPROVE your credit score.

• Applying for a bunch of different credit cards.

• Using a credit card and paying it off on time.

• Using a credit card and borrowing right up to your limit.

• Borrowing money from a furniture store but not paying them back.

The following '80 pack' of coffee pods is available at Costco for $45.99 What is the unit price for this item?

• $1.74 per pod

• 57 cents per pod

• 46 cents per pod

• 80 cents per pod