Vocabulary Review - Financial and Employment Terms

What is the definition of 'Hourly Rate'?

• Specific hours you always work per week; usually 40 hours per week

• Paid every week; 52 weeks in a year

• A set amount paid for each hour you work

• Hours over your regular hours

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

What is the definition of 'Paid Weekly'?

• Paid every week; 52 weeks in a year. Computation: Annual salary ÷ 52 = weekly pay

• Paid every two weeks; 26 pay periods in a year. Computation: Annual salary ÷ 26 = biweekly pay

• Paid once a month; 12 months in a year. Computation: Annual salary ÷ 12 = monthly pay

• Paid twice a month; 24 pay periods in a year. Computation: Annual salary ÷ 24 = semi-monthly pay

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

What is the definition of 'Bi-Weekly pay'?

• Paid every week; 52 weeks in a year

• Paid every other week; 26 pay period per year

• Paid 1 time a month; 12 months in a year

• Paid 1 time per year; what one would make for a year

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

What is the definition of 'Monthly pay'?

• Paid 1 time a month; 12 months in a year. Computation: Annual salary ÷ 12 = monthly pay

• Paid every week; 52 weeks in a year. Computation: Annual salary ÷ 52 = weekly pay

• Paid every two weeks; 26 times a year. Computation: Annual salary ÷ 26 = biweekly pay

• Paid every day; 365 days in a year. Computation: Annual salary ÷ 365 = daily pay

Tags

CCSS.6.RP.A.3B

What is the definition of 'Annually'?

• Paid 1 time per year; what one would make for a year

• Paid every month; what one would make for a month

• Paid every week; what one would make for a week

• Paid every day; what one would make for a day

Tags

CCSS.L.3.4B

CCSS.L.3.4C

CCSS.RF.3.3B

CCSS.RF.4.3A

CCSS.RF.5.3A

What is the definition of 'Regular hours'?

• A set amount paid for each hour you work

• Hours over your regular hours

• Specific hours you always work per week; usually 40 hours per week

• The total pay before taxes and any other deductions are taken out

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

What is the definition of 'Overtime hours'?

• Hours over your regular hours

• Hours during lunch break

• Hours spent on vacation

• Hours before your regular hours

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

What is the definition of 'Net pay'?

• The money after taxes you actually take home.

• The total amount earned before any deductions are made.

• The amount of money paid for overtime work only.

• The total value of all benefits provided by the employer.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

What is the definition of 'Gross pay'?

• The total pay before taxes and any other deductions are taken out

• The amount left after all deductions are made

• The pay received only from overtime work

• The pay after bonuses are added

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

What is the definition of 'tax'?

• The amount of money a person must pay to the government to benefit from government services

• A type of government loan given to citizens

• A reward given by the government for good behavior

• A discount offered by the government on products

Tags

CCSS.L.11-12.6

CCSS.L.9-10.6

CCSS.W.11-12.2D

CCSS.W.9-10.2D

CCSS.L.8.6