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Everfi Employment and Taxes Practice Quiz

Boost your skills with module 2 answers

Editorial: Review CompletedCreated By: Dara DuggerUpdated Aug 23, 2025
Difficulty: Moderate
Grade: Grade 10
Study OutcomesCheat Sheet
Paper art representing trivia on Everfi Employment Mastery practice quiz for high school students.

This employment and taxes quiz helps you practice the EVERFI Employment & Taxes unit - pay, paychecks, W-4/W-2, and tax basics. Answer 20 quick questions to spot gaps before a test or class and learn where to study next. Use it to review at your own pace and feel more sure about the terms you see at work or school.

What is the primary purpose of a resume in the job application process?
To request a higher salary immediately
To provide a summary of your skills and experiences
To act as a personal diary
To serve as a legal contract
A resume is designed to summarize your skills, experiences, and education to show potential employers your qualifications. It is not meant for personal documentation or as a negotiation tool for salary.
Which document typically accompanies a resume to introduce yourself to an employer?
Performance review
Cover letter
Tax return
Employment contract
A cover letter is used to introduce yourself and explain why you are well-suited for the position. It provides context and complements the resume by highlighting your major strengths.
What is one important aspect of professional attire for a job interview?
Wearing casual t-shirts
Wearing overly flashy clothing
Dressing appropriately for the industry
Showing extremely casual outfits
Appropriate attire demonstrates professionalism and an understanding of the company culture. It also creates a positive first impression, which is essential during an interview.
Why is punctuality considered an essential employment skill?
It allows you to take extended breaks
It makes you appear overly anxious
It shows reliability and respect for others' time
It indicates a desire to work overtime
Punctuality is a sign of reliability and professionalism. Arriving on time shows respect for others and indicates that you can be trusted with responsibilities.
What is a job application mainly used for?
To provide personal and professional information to potential employers
To certify your educational achievements solely
To serve as an employment contract
To negotiate the starting salary before an interview
A job application collects your personal, educational, and work history, helping employers determine if you meet the job requirements. It is a tool for presenting your background rather than negotiating terms.
Which of the following best defines 'gross income'?
Only bonus earnings received during the year
Income solely from passive sources
Total earnings before any deductions
Earnings after taxes and deductions are removed
Gross income represents the total amount of earnings before any taxes, deductions, or benefits are subtracted. Knowing this helps in understanding how deductions affect your final take-home pay.
Why do employers withhold taxes from an employee's paycheck?
To ensure that employees pay taxes throughout the year
To increase the final paycheck amount
To decrease the gross income of employees
To provide employees with bonus checks
Withholding taxes from your paycheck helps distribute your tax payment evenly over the year and prevents a large sum from being due at tax time. It simplifies the tax process by pre-paying your obligations.
Which term describes money taken out of your paycheck for taxes and other deductions?
Withholdings
Interest rate
Gross income
Net profit
Withholdings are the amounts deducted from your paycheck for taxes, insurance, retirement, and other benefits. They are subtracted from your gross income to eventually arrive at your net income.
What is an essential step to take when preparing for a job interview?
Research the company to understand its culture and needs
Focus solely on salary discussions before the interview
Arrive without any preparation materials
Assume the job details without research
Researching the company allows you to tailor your answers to align with its values and mission. It demonstrates to the employer that you are well-prepared and genuinely interested in the role.
Which of the following outlines best professional email communication?
Using all capital letters to highlight the message
Clear subject line, courteous greeting, concise message, and proper closing
Long, unrelated anecdotes that clutter the email
No subject line, casual tone, and multiple abbreviations
A professional email should be clear, concise, and structured with a proper greeting and closing. This format helps convey your message effectively and maintains a professional tone.
Why is it important to send a thank-you email after an interview?
It expresses gratitude and reinforces your interest in the position
It serves as a platform to renegotiate salary immediately
It shows weakness and a need for additional communication
It allows you to demand a quicker response
Sending a thank-you email after an interview demonstrates professionalism and courtesy. It also reinforces your interest in the role and can help leave a lasting positive impression.
Which of the following best describes 'net income'?
The sum of all eligible reimbursements
Total salary before deductions
Only the extra income from bonuses
Income remaining after all deductions, including taxes, are subtracted
Net income is the amount you actually take home after subtracting taxes and other deductions from your gross income. Understanding this figure is critical for personal budgeting and financial planning.
How does addressing a job gap in your resume benefit you during the application process?
It should be hidden entirely to avoid scrutiny
It provides context for the gap and highlights your readiness to rejoin the workforce
It automatically disqualifies you
It guarantees a higher starting salary
By addressing a job gap, you allow potential employers to understand the reasons behind it. This transparency can build trust and demonstrate that you have maintained or improved your skills during the period.
Which of the following best illustrates professional networking?
Avoiding all social interactions at work
Criticizing your former employer publicly
Engaging with industry professionals on platforms like LinkedIn
Sharing excessive personal details in professional settings
Professional networking involves building and maintaining relationships within your industry through platforms like LinkedIn. This can lead to career opportunities and valuable professional connections.
What is the significance of maintaining an updated resume?
It guarantees immediate job placement
It ensures that your skills and experiences are current, making you ready for new opportunities
It solely serves as a record for your personal achievements
It is only needed when you're about to graduate high school
Keeping your resume updated means that all your recent skills, accomplishments, and experiences are accurately reflected. This readiness can help you seize new opportunities as they arise.
How can understanding tax deductions and credits impact your overall financial planning as an employee?
It has no impact on your net salary
It is irrelevant for determining salary
It can increase your take-home pay by reducing taxable income
It only benefits employers, not employees
Understanding tax deductions and credits allows you to lower your taxable income, which can result in a higher take-home pay. This knowledge is a critical element of effective financial planning and budgeting.
Which scenario best demonstrates unethical behavior in the workplace?
Reporting a coworker's error through proper channels
Sharing confidential company information with unauthorized individuals
Collaborating with team members on a project
Using company resources for approved tasks
Sharing confidential company information is a clear example of unethical behavior that can compromise the organization. Ethical conduct in the workplace requires maintaining confidentiality and adhering to company policies.
When negotiating a salary offer, what is an important strategy to consider?
Refusing negotiation to avoid confrontation
Researching industry standards to make an informed counteroffer
Accepting the first offer without question
Demanding an unreasonably high salary without evidence
Researching industry standards provides you with valuable data to support a reasonable counteroffer. This approach strengthens your position and ensures that your salary expectations align with market rates.
How can a prospective employee effectively evaluate a company's benefits package?
By comparing healthcare, retirement plans, and leave policies to industry norms
Accepting the benefits as standard without research
Rushing the decision without considering future needs
Solely focusing on the salary and ignoring non-monetary benefits
Evaluating a benefits package requires you to look beyond salary and assess healthcare, retirement, leave policies, and other perks. This comprehensive evaluation helps you understand the full value of a job offer.
What is the significance of thoroughly reviewing an employment contract before signing it?
It ensures that you understand your rights, obligations, and any restrictions included in the contract
It is unnecessary because employment contracts are standard
It is only important for high-level positions
It allows you to negotiate extra benefits regardless of contract terms
Reviewing an employment contract is essential because it lays out your rights, responsibilities, and any limitations in your role. A careful review helps you avoid unexpected obligations and protects your interests.
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Study Outcomes

  1. Understand key employment skills and concepts essential for workplace success.
  2. Analyze various job scenarios to identify effective problem-solving techniques.
  3. Apply communication strategies appropriate for professional settings.
  4. Evaluate employer and employee responsibilities within the framework of employment and taxes.

Everfi Employment & Taxes Answers Cheat Sheet

  1. Understand the purpose of Form W-4 - Your Form W-4 is the secret sauce that tells your employer how much federal tax to withhold each payday. Get it right, and you'll avoid surprise tax bills or giant refunds that mean you've loaned the government interest-free cash. Stay in control of your withholding so you can plan for life's fun stuff!
  2. Recognize different types of taxes - Taxes come in all shapes and sizes - from income and payroll taxes to sneaky sales and property levies. Knowing how each type affects your wallet helps you budget smarter and spot where your dollars are really going. Become a tax-savvy pro and make no surprises in your financial future!
  3. Learn how to read a pay stub - Your pay stub is more than just numbers on a page; it's a treasure map showing earnings, deductions, and benefits. Decoding it means you can track your income, catch errors fast, and celebrate every raise you deserve. Bookmark this skill to stay on top of your cash flow like a budgeting boss!
  4. Know the difference between gross and net income - Think of gross income as the cake before frosting - it's your total earnings before any deductions. Net income is the slice you actually take home after taxes and other extras are subtracted. Understanding this difference helps you plan fun purchases without getting a nasty sticker shock!
  5. Understand payroll taxes - Payroll taxes like Social Security and Medicare (FICA) are the dynamic duo funding your future retirement and healthcare. Each paycheck chips away at these programs, so knowing the percentages and purposes makes you a more informed earner. Embrace your civic duty and watch where your contributions go!
  6. Learn about tax returns - Filing a tax return is like balancing the scales: you compare what you've already paid to what you actually owe. Get it right, and you might score a refund; get it wrong, and you'll owe Uncle Sam extra. Mastering your return keeps you out of trouble and might even put cash back in your pocket!
  7. Recognize the importance of accurate financial records - Good record-keeping is your superhero cape in the world of taxes - organized receipts and statements can save you hours of headaches. With neat files and digital backups, you'll breeze through tax season and be ready for any audits. Say goodbye to last-minute scrambles and hello to smooth filing!
  8. Understand the role of the IRS - The IRS is the referee of the tax game, making sure everyone plays by the rules and gets their fair share. They collect taxes, process returns, and enforce regulations to keep the system running. Knowing how they operate helps you stay compliant and stress-free!
  9. Learn about tax deductions and credits - Deductions lower your taxable income, while credits knock dollars off the tax you owe - both are powerful tools to supercharge your savings. Spotting eligible expenses and credits might turn into extra cash in your pocket or fewer dollars out the door. Dive into the details to maximize every opportunity!
  10. Recognize the impact of taxes on personal budgeting - Taxes aren't just a yearly chore; they influence your monthly budget, savings goals, and big purchases. Anticipating withholding and potential refunds lets you build more realistic budgets and stress less about bills. Let taxes be your budgeting ally, not your adversary!
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