MCQ Questions
Q.1.
Tax that you pay when making a profit from selling a house is an example of:
  • 0%
    Net Pay is how much you've made during a pay period, YTD Net Pay is how you've made this year.
  • 0%
    Capital Gains Tax
  • 0%
    Either A or B
  • 0%
    Sales Tax
Q.2.
If you are in a car accident caused by someone else who also has insurance, which type of insurance plan will not require you to pay out of pocket costs?
  • 0%
    Sales Tax
  • 0%
    Either A or B
  • 0%
    A tree branch breaks your bedroom window during a storm.
  • 0%
    Capital Gains Tax
Q.3.
On a pay stub, what is the difference between "Net Pay" and YTD Net Pay"?
  • 0%
    A tree branch breaks your bedroom window during a storm.
  • 0%
    Capital Gains Tax
  • 0%
    When your total of previous payments and applicable credits is more than the tax you owe.
  • 0%
    Net Pay is how much you've made during a pay period, YTD Net Pay is how you've made this year.
Q.4.
The amount you owe in state income tax is based on:
  • 0%
    $300
  • 0%
    Sales Tax
  • 0%
    Capital Gains Tax
  • 0%
    your yearly earnings
Q.5.
The person who receives financial protection from a life insurance plan is called a:
  • 0%
    Low deductible plan
  • 0%
    $300
  • 0%
    Beneficiary
  • 0%
    your yearly earnings
Q.6.
Under which circumstance might you receive a tax refund from the IRS?
  • 0%
    A tree branch breaks your bedroom window during a storm.
  • 0%
    Net Pay is how much you've made during a pay period, YTD Net Pay is how you've made this year.
  • 0%
    Sales Tax
  • 0%
    When your total of previous payments and applicable credits is more than the tax you owe.
Q.7.
You have an insurance policy with a $300 premium and a $500 deductible. How much should you expect to pay the insurance company each month for coverage?
  • 0%
    Sales Tax
  • 0%
    $300
  • 0%
    Either A or B
  • 0%
    your yearly earnings