Understanding College Savings — Unit test Answers

What provides financial support to workers who are retired or have disabilities?

What is the W-4 form used for?

This image shows a receipt from a shoe purchase.

What common misconceptions about paying taxes exist? Check all that apply.

The point at which it is no longer advantageous to buy in bulk is known as marginal

In American society, which of these is an example of a want?

Which would be considered part of an employee’s salary?

Which would be most helpful when considering a large expenditure that might require repeating payments? Select three options.

Which statements about payroll taxes are true? Check all that apply.

Which of these is the best example of an asset?

Davis’s net paycheck is $2,920.50.Type of TaxAmountFederal$945.00State$225.00Medicare$65.25Social Security$344.25

Which statements apply to leasing a car? Check all that apply.

This chart shows Dan’s budget:

Planning to finance higher education helps people prepare for their financial future because it teaches them about

When companies spend millions of dollars developing logos and slogans, or use celebrity endorsements to encourage consumers to buy particular products, this is called

Alex is nearing graduation. His counselor showed him this information. Alex’s College Costs & Payment Options per YearCostsMethods of PaymentTuition & FeesGrants & Scholarship$10,100$12,500Room & BoardWork-Study$11,750$8,000If his parents cannot help Alex with college, and two of his scholarships will be awarded to other students if he does not accept them immediately, which is the best option for him?

Which option below is not a potential risk of purchasing a used car?

Desmond told his two friends, Marley and Brianna, that he was awarded a $10,000 grant for college if he becomes a math or science teacher. Desmond wants to teach physics.Marley told him he should take the grant. Brianna told him not to take the grant. Which statement about their advice is true?

Caitlin has finished her schooling and training to be a dental hygienist. She has two job offers that she is considering. Caitlin’s Job Offer Comparison Job 1: Albuquerque, NMJob 2: Ann-Arbor, MISalary$54,000$61,000Benefits$2,500 bonuses,health insurance,401KHealth insurance,401KAverage Monthly Rent & Utilities$925$1,300Which job would offer the best annual income considering the cost of living in each locale?

If an individual overpays taxes throughout the year, then after filing taxes he or she will receive