Financial Literacy Game

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Test your knowledge of financial terms and concepts with this fun and educational game!

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35 veces realizada

Creada por

Amaia Diaz Zubillaga

Estados Unidos

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Amaia Diaz Zubillaga

5 de Octubre de 2023

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Financial Literacy GameVersión en línea Test your knowledge of financial terms and concepts with this fun and educational game! por Amaia Diaz Zubillaga 1 You may claim an allowance if no one else claims you as a dependent. Yes No 2 Net pay is gross income minus deductions. Yes No 3 Formal training is learning that occurs as part of daily life. Yes No 4 Formal training is learning that occurs usually from experts, college, specific trainings... Yes No 5 Exempt means free from, not liable for, not qualified for. Yes No 6 Job is any activity through which an individual can earn money. Yes No 7 Allowance is the money paid for doing work. Yes No 8 Allowances are claimed on W-4 forms and reduce the amount of income withheld for taxes. One dependent = One allowance. You can claim yourself, if noone claims you Yes No 9 Gross pay is the money earned from working before taxes or deductions. Yes No 10 YTD (Year to Date) is the amount from January 1 to the last day of the current pay period. Yes No 11 Social security is a tax that pays for healthcare for people aged 65 and over. Yes No 12 Social Security is a tax that provides income for retirees, the disabled, and their dependents Yes No 13 Transferable skills are versatile abilities and aptitudes applied to personal and professional roles. Yes No 14 Paystubs outline the deductions made to wages. Yes No 15 Earned income is income that is not obtained from working, such as investment income. Yes No 16 Employment benefits are products or services that add value beyond wages earned. Yes No 17 Human capital is a collection of education, knowledge, training, experiences, and skills a person has. Yes No 18 Federal taxes are tax charged by the state government on your income to pay for state programs. Yes No 19 Federal taxes are charged by the U.S. government on your income to pay for federal programs Yes No 20 The I-9 form determines employment eligibility and requires the employer to verify your identity and employment authorization. Yes No 21 State tax is the tax charged by the U.S. government on your income to pay for federal programs. Yes No 22 State taxes are charged by the state government on your income to pay for state programs. Some states do NOT have state taxes. Yes No 23 Earnings are income obtained in return for labor or services. Yes No 24 FICA is a tax that provides income for retirees, the disabled, and their dependents. Yes No 25 FICA provides income for retirees, the disabled, and their dependents AND pays for healthcare for people aged 65 and over. Yes No 26 Payroll deductions are mandatory or optional payments made from gross pay. Yes No 27 January 31 is the date by which an employer legally must send a W-2 Form to each employee Yes No 28 W-4 form is to determine how much your gross pay should be Yes No 29 W-4 determines how much income tax to withhold from an employee’s pay Yes No 30 Taxes pay for schools, government departments, roads, and emergency services Yes No 31 The tax structure used for federal income taxes is regressive Yes No 32 A sale taxes that is a 6% of the item value is proportional Yes No

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