General Financial Literacy Course - Utah, Financial Literacy State Test Questions and Correct Answers | Latest Update
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Course
General Financial Literacy
Institution
General Financial Literacy
401K
-:- A qualified plan established by employers to which eligible
employees may make salary deferral (salary reduction) contributions on a
post-tax and/or pretax basis. Employers offering a 401(k) plan may make
matching or non-elective contributions to the plan on behalf of eligible
em...
benefit is generally referred to as a 'salary packaging' or 'salary exchange'
arrangement. In most countries, most kinds of employee benefits are
taxable to at least some degree. E xamples include housing (employer
provided or employer paid), group insurance (health, dental, life),
disability income protection, retirement benefits, daycare, tuition
reimbursement, sick leave, vacation (paid and non -paid) social security,
profit sharing, funding of education and other specialized benefits. The
purpose of employee benefits is to increase the economic security of staff
and members, and doing so, improve worker retention across the
organization.
Budget
✓ -:- A financial plan used to forecast and track income and expenses.
Career
✓ -:- Profession or field of employment for which one trains, such as
financial services or medicine.
Certificate of Deposit (CD)
4|P a g e | G r a d e A + | 2 0 2 0 2 5
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