Section 1 and 2

Question 1

Weekly

Answer 1

52

Question 2

Bi-weekly

Answer 2

26

Question 3

Semi-Monthly

Answer 3

24

Question 4

Monthly

Answer 4

12

Question 5

Direct Deposit

Answer 5

Paychecks automatically deposited electronically

Question 6

Hourly rate

Answer 6

Set amount you are paid per hour

Question 7

Regular Hours

Answer 7

Specific number of hours you work each week

Question 8

Overtime Hours

Answer 8

extra hours

Question 9

Overtime Hrly Rate

Answer 9

Usually greater than Hrly

Question 10

Time and a Half

Answer 10

1.5x hourly rate

Question 11

Double-time pay

Answer 11

2x hourly rate

Question 12

Minimum Wage

Answer 12

lowest hourly rate that can be paid

Question 13

San Diego min Wage

Answer 13

14

Question 14

Federal min Wage

Answer 14

7.25

Question 15

Gross Pay

Answer 15

total pay without anything taken out

Question 16

Net pay

Answer 16

total pay after everything is taken out

Question 17

Commission

Answer 17

employee receives a percentage of the amount of sales produced

Question 18

Royalty

Answer 18

Money that employees or others receive based on sales

Question 19

Piece-worker

Answer 19

Worker is paid for each item produced

Question 20

Piece worker rate

Answer 20

Amount of money a worker receives for each item produced

Question 21

Employee Benefits

Answer 21

Value-added options that an employer may choose to offer employees (insurance,paid vacation, stock).

Question 22

Insurance

Answer 22

Value-added benefit that employers may offer to employees such as policies that cover medical, dental, life and disability

Question 23

Paid Vacation/Holiday Time

Answer 23

Paid time off that an employer may offer to employees

Question 24

Retirement Plans

Answer 24

A means that employers may offer as a way to save for retirement; these types of plans may include pensions

Question 25

Stock Ownership Plans

Answer 25

A plan that allows employees to buy or receive company stock

Question 26

Childcare Leave

Answer 26

An employee benefit that allows employees paid time off to care for sick children or newborns

Question 27

Family Health Care

Answer 27

A type of health insurance that covers all members of the immediate family for health care bills to the extent outlined in the health care coverage plan.

Question 28

Pension

Answer 28

A type of retirement plan where an employee receives compensation from an employer after retirement

Question 29

Worker's compensation

Answer 29

Assistance to employees who are injured while working at their job. A program that is gained by state laws

Question 30

Social Security

Answer 30

Income for the people after retire, become disabled or for survivors if you pass

Question 31

Federal Insurance Contributions Act (FICA)

Answer 31

Federal act that established social security insurance

Question 32

FICA Tax

Answer 32

Includes tax for both Social Security & Medicare

Question 33

Social Security Tax

Answer 33

% of Maximum taxable income amount; it is split between employee and employer

Question 34

Medicare Tax

Answer 34

Set % of entire income amount with no maximum amounts

Question 35

Maximum taxable income

Answer 35

Refereed to as MTI, maximum income on which a person must pay social security tax in a given year

Question 36

Social Security Number

Answer 36

Unique 9-digit number that belongs to only you