PFM Unit 1 QUESTIONS & SOLUTIONS
Work characteristics - ANSWER Daily activities that must be performed
Lifelong learner - ANSWER Someone who actively seeks new knowledge, skills and
experiences that will add to professional and personal growth throughout life
Self-assessment Inventory - ANSWER List of your strong and weak points along with
plans for improvement as you prepare for a career.
Form W-2 - ANSWER Shows important information regarding your taxes, income, and
other things
Progressive taxes - ANSWER As income goes up, the percent that you pay goes up as
well.
Cooperative education - ANSWER When you combine work and classwork
W-4 form - ANSWER used to report the number of allowances you are claiming for
income tax purposes.
Allowances - ANSWER Reductions in taxes in regard to your W-4 form
Exempt status - ANSWER Available to people who do not earn enough in a year
Regressive Taxes - ANSWER As income goes up, the percent that you pay goes down.
Tax brackets - ANSWER Tax that is applied to graduated income ranges
Work characteristics - ANSWER Daily activities that must be performed
Lifelong learner - ANSWER Someone who actively seeks new knowledge, skills and
experiences that will add to professional and personal growth throughout life
Self-assessment Inventory - ANSWER List of your strong and weak points along with
plans for improvement as you prepare for a career.
Form W-2 - ANSWER Shows important information regarding your taxes, income, and
other things
Progressive taxes - ANSWER As income goes up, the percent that you pay goes up as
well.
Cooperative education - ANSWER When you combine work and classwork
W-4 form - ANSWER used to report the number of allowances you are claiming for
income tax purposes.
Allowances - ANSWER Reductions in taxes in regard to your W-4 form
Exempt status - ANSWER Available to people who do not earn enough in a year
Regressive Taxes - ANSWER As income goes up, the percent that you pay goes down.
Tax brackets - ANSWER Tax that is applied to graduated income ranges
