2005 Mid Year Examination

Name____________________________ Class (Circle): WT JS HN PN JA RS

Newington College

2005 Mid Year Examinations

Commerce Year 10

General Instructions Reading time 5 minutes Working time 2 Hours Write using black or blue pen Board approved calculators may be used Write your name and class where indicated Do not remove this paper from the examination room

Part A 20 marks Multiple Choice Attempt Questions 1-20 Part B 20 marks Short Answer Attempt Questions 21-23 Part C 20 marks - Essay Attempt Question 24 Part D 20 marks Writing tasks Attempt Questions 25 and 26

2005 Year 10 Commerce Mid Year Examination

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2005 Year 10 Commerce Mid Year Examination

Part A
Complete on the answer sheet provided

1. Qualifications gained at university and at TAFE are recognised as part of which framework? A B C D 2. The Australian Education Framework The Australian Qualifications Framework The Department of Education Framework The CV Framework

What qualifications can be gained at TAFE? A B C D Bachelors Degree School Certificate Diploma Masters Degree

3.

Which level of government in Australia funds universities? A B C D Federal State Local Both A & B

4.

Which of the following is not an example of financial assistance offered to students? A B C D Youth allowance Austudy HECS Abstudy

5.

What word or term is used to describe criteria that someone needs before he or she can commence a course? A. B. C D Prerequisite Precourse Preschool Precommence

2005 Year 10 Commerce Mid Year Examination

6.

PAYG stands for which of the following options? A. B. C. D. Pay As You Get it. Pay As You Earn. Pay As You Go. None of the above.

7.

A group certificate shows which of the following information? A B C D Income earned for the period of your employment. Taxation paid by you to the Australian Tax Office Your personal details and Tax File Number All of the above

8.

Who pays GST? A. B. C. D. By people who earn more than $6000 in a year By people who spend more than $999 each year. By people over the age of 18. By people who buy goods and services.

9.

What do allowable deductions enable you to do? A. B. C. D. Reduce your gross taxable income. Reduce you net taxable income. Increase your weekly gross income. Increase your weekly net income.

10. Which of the following equations would you use to calculate your taxable income? A. B. C. D.
11.

Gross income Net income Total income - Allowable Deductions Total income + Total Tax Paid Total income + Deductions

What is the name of the lower house in the Federal Parliament? A B C D The Legislative Assembly The Senate The House of Representatives The Legislative Council

2005 Year 10 Commerce Mid Year Examination 12. Which level of government is responsible for the collection of stamp duty? A B C D 13. Federal Government State Government Local Government Referendum

What is the name given to the person who maintains order in The House Of Representatives? A B C D Governor- General President Speaker Serjeant-at-arms

14.

Which of the following is also known as the Upper House in the NSW Parliament? A B C D The Legislative Assembly The Senate The Back Bench The Legislative Council

15.

Before a bill can become law in the Federal Parliament, who must give it royal assent? A B C D The Prime Minister The President The Cabinet The Governor-General

16.

Which of the following statements is true? A The UAI is a mark out of 100 that gives a measure of overall academic achievement. B The UAI is used by the Government in selecting who should receive financial assistance for tertiary study. C One of the disadvantages of the UAI is that it does not allow Universities to compare students from within NSW. D The UAI is a rank which measures overall academic achievement in the HSC.

2005 Year 10 Commerce Mid Year Examination 17. Which of the following is a disadvantage of being involved with the New Apprenticeship program? A B C D The rates of pay for new apprentices The vocational nature of the training The fact that you work in the field of expertise that you are learning The learning is both theory-based and practical

18. Which of the following is a disadvantage of Private Colleges? A The rigorous academic entry requirements B The vocational nature of the training provided C The specificity of training to a particular industry D The payment of fees upfront 19. The acronym TAFE stands for which of the following? A B C D 20 Transient and Financial Education Technical and Fiscal Education Technical and Further Education Training and Further Education

As of July 2005, which political party will hold the balance of power in the Senate? A B C D The Liberal Party of Australia The National Party The Australian Labor Party The Greens
End of Part A
(we hoped you enjoyed it)

2005 Year 10 Commerce Mid Year Examination Name________________________ Teacher (Circle):WT JS HN PN JA RS

Part B
Question 21 Refer to the following table: Tax rates 2001-03 and 2002-04 Taxable income $0 $6,000 $6,001 $20,000 Nil 17c for each $1 over $6,000 Tax on this income

$20,001 - $50,000 $2,380 plus 30c for each $1 over $20,000 $50,001 $60,000 $11,380 plus 42c for each $1 over $50,000 Over $60,000 $15,580 plus 47c for each $1 over $60,000

(a) What is a tax bracket . ( 1 mark) _____________________________________________________________ _____________________________________________________________ _____________________________________________________________

(b)

What is the marginal tax rate for a person earning $82,500? (1 mark)

_____________________________________________________________ (c) Calculate the tax payable on $52,478. Show all working (3 marks)

________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ _______________________________________________________________

2005 Year 10 Commerce Mid Year Examination

Name____________________________ Class (Circle):WT JS HN PN JA RS

Question 23 ( 5 Marks) Refer to the table below and answer the questions which follow.
First Preference Votes for New South Wales Votes Counted: 94.70% Enrolment: 4,329,115 Party Australian Labor Party Liberal The Nationals One Nation The Greens Democrats CDP Christian Party Save the ADI Site Party Citizens Electoral Council No GST Progressive Labour Party Lower Excise Fuel and Beer Party Non-Custodial Parents Party The Fishing Party Ex-Service, Service & Veterans Party Family First liberals for forests New Country Party Nuclear Disarmament Party Outdoor Recreation Party Socialist Alliance Independent Non Affiliated .... FORMAL INFORMAL TOTAL Votes 1,412,418 1,391,511 353,670 53,881 311,369 41,072 47,132 3,490 11,500 7,229 3,775 2,007 1,132 2,516 3,108 29,621 8,165 2,824 341 3,505 4,415 151,436 2,577 0 3,848,694 250,807 4,099,501 Percentage % 36.70 36.16 9.19 1.40 8.09 1.07 1.22 0.09 0.30 0.19 0.10 0.05 0.03 0.07 0.08 0.77 0.21 0.07 0.01 0.09 0.11 3.93 0.07 0.00 93.88 6.12 94.70 Swing % +0.25 +2.58 -0.03 -3.37 +3.34 -3.17 +0.00 -0.07 +0.15 +0.06 -0.02 -0.03 +0.01 +0.05 +0.08 +0.77 +0.21 +0.07 +0.01 +0.09 +0.11 +0.04 -0.10 -1.03 -0.70 +0.70 -0.04

Source: www.aec.gov.au Name____________________________ Class (Circle):WT JS HN PN JA RS

2005 Year 10 Commerce Mid Year Examination Question 22 (cont) (a) According to the table, which party achieved the greatest swing in their favour in the 2004 election relative to their previous election result? (1 Mark) ________________________________________________________________

(b) The table mentions that there were 250 807 informal votes. Describe what an informal vote is. (1 mark) ________________________________________________________________ ________________________________________________________________ (c) There is no mention of a donkey vote on the table. Describe what a donkey vote is. (1 mark) ________________________________________________________________ ________________________________________________________________ (d) Why is there no mention of donkey votes on this table? (1 mark)

________________________________________________________________ ________________________________________________________________ (e) Outline two situations when a by-election would occur? (2 marks)

_______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

Name____________________________ Class (Circle):WT JS HN PN JA RS

2005 Year 10 Commerce Mid Year Examination

(f) Explain the differences between a preferential voting system and a first past the post voting system. (4 marks) ________________________________________________________________
______________________________________________________________________

________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________

________________________________________________________________ ________________________________________________________________

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2005 Year 10 Commerce Mid Year Examination

Question 23( 5 Marks)

Read the following extract from the S.M.H on May 13th, 2005 and answer the questions which follow.

The Labor leader, Kim Beazley, has played Robin Hood, proposing an alternative to the Federal Government's budget tax changes which would double tax cuts for low and middle income earners and dramatically reduce gains for the rich. The wealthy would lose up to $25 a week in tax reductions while low and average income earners would have their $6 tax cuts lifted to up to $15.46, under the Labor plan announced last night. The Opposition Leader's proposal includes a welfare-to-work tax "bonus", lifting the taxfree threshold from $6000 a year to $10,000 for people earning up to $20,000. This would be worth $13 a week or $680 a year when fully implemented in 2008. Those on $125,000 who stood to gain $65 a week would have their weekly tax break shrunk to $40. The Treasurer, Peter Costello, yesterday introduced the tax legislation, warning that any Labor bid to block it in the Senate "could only be designed to keep from people the tax cut which they deserve on July 1". "They are demonstrating that they stand for higher taxes by trying to delay this bill," he said. Labor costs its tax pledge at $24.1billion over four years from next January, up by about $2billion on the Government package. Labor would finance the extra cost by blocking the removal of the superannuation surcharge, a saving of $2.5billion. Labor is also proposing to divert income generated by the promised Future Fund to finance infrastructure and productive investment, instead of public sector superannuation as pledged by the Government. The fund is estimated to be worth $140billion by 2020. The shadow treasurer, Wayne Swan, last night signalled Labor was not prepared to compromise with the Government on the tax cuts, saying: "We are voting for our package in the Senate."

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2005 Year 10 Commerce Mid Year Examination Name____________________________ Class (Circle):WT JS HN PN JA RS

(a) Who introduced the new tax legislation?

(1 mark)

________________________________________________________________

(b) What is meant by the suggestion that Kim Beazley is playing Robin Hood (1 mark) ________________________________________________________________ ________________________________________________________________ ________________________________________________________________

(c) How will Labor finance the extra cost of its tax pledge?

(1 mark)

________________________________________________________________ ________________________________________________________________ ________________________________________________________________

(d) Discuss how the Labor opposition could block the proposed tax legislation in the Senate. (2 marks)

________________________________________________________________ ________________________________________________________________ ________________________________________________________________

_____________________________________________________________
________________________________________________________________

_____________________________________________________________

End of Part B
(we hoped you enjoyed it)

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2005 Year 10 Commerce Mid Year Examination Part C (20 marks) Complete this essay question on a new piece of paper

In your answer you will be assessed on how well you: Demonstrate your knowledge and understanding Integrate the stimulus material in the response Use appropriate terminology and write in essay format

Question 24 With reference to the following pictures and using your knowledge of Commerce, answer the question below.

What is a government? Describe how the people living in Australia are governed. Outline the responsibilities of the different levels of government in Australia.

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2005 Year 10 Commerce Mid Year Examination

Part D
20 marks
In your answer you will be assessed on how well you: Demonstrate your knowledge and understanding Use commercial terminology appropriately Present a response in a clear format

Complete both Question 25 and Question 26 on a new piece of paper

Question 25 (10 marks) Write a report to a new employee who has recently migrated to this country that describes how the Australian Personal Income Tax System works.
(Describe: Provide characteristics and features)

and

Question 26 (10 marks) Write a report that describes the Job Seeking Process, including a brief overview of research and curriculum vitae and a detailed description of good interview skills.
(Describe: Provide characteristics and features)

End of Examination

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2005 Year 10 Commerce Mid Year Examination

Name__________________________ Class (Circle): RS WT JS HN PN JA

Multiple Choice Answer Sheet

Question 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

A A A A A A A A A A A A A A A A A A A A

B B B B B B B B B B B B B B B B B B B B

C C C C C C C C C C C C C C C C C C C C

D D D D D D D D D D D D D D D D D D D D

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2005 Year 10 Commerce Mid Year Examination What is a government? Describe how the people living in Australia are governed. Outline the responsibilities of the different levels of government in Australia. Mark Range

Criteria
Integrates commerce terms and vocabulary throughout the response Uses a logical and clearly structured essay style. Includes both an introduction and a conclusion Describes in detail the role of governments and the structure of Australias federal system, including the role of the houses of parliament. Demonstrates a precise and extensive knowledge of the responsibilities of the three levels of government. Uses current examples to assist in explaining ideas and concepts. Consistently uses commerce terms and vocabulary Uses a clear essay style. Accurately describes the role of governments and the structure of Australias federal system of government. Identifies a wide range of the responsibilities of the three levels of government. Uses some current examples to assist in explaining ideas and concepts. Consistently some commerce terms and vocabulary Response has some characteristics of an essay. Describes, in general, the role of governments and shows some understanding of the structure of Australias federal system of government. Identifies a number of the responsibilities of the three levels of government. May use some current examples to assist in explaining ideas and concepts. Limited use of commerce terms Response has an inconsistent structure. Describes the role of government in Australia in brief or inaccurate terms Identifies more than one of the responsibilities of the government. Little use of real examples. No use of commercial terms and vocabulary Response has little structure. Demonstrates little knowledge of the role of government or its responsibilities.

17-20

13-16

9-12

5-8

1-4

Candidate: Mark: Marker:...

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2005 Year 10 Commerce Mid Year Examination

Write a report to a new employee who has recently migrated to this country that describes how the Australian Personal Income Tax System works. Mark Range

Criteria
Integrates commerce terms and vocabulary throughout the response Uses a logical and clearly structured style. Includes both an introduction and a conclusion Describes in detail: - how the tax system is progressive - how tax scales operate - the role of allowable deductions - how tax payable is calculated Consistently uses examples to assist in explaining ideas and concepts. Consistently uses commerce terms and vocabulary throughout the response Uses a clearly structured style. Accurately describes issues such as: - how the tax system is progressive - how tax scales operate - the role of allowable deductions - how tax payable is calculated Uses examples to assist in explaining ideas and concepts. Uses some commerce terms and vocabulary throughout the response Uses a simple structure. Generally describes more than one issue to do with the income tax system. Uses examples to assist in explaining ideas and concepts Limited use of commerce terms Response has an inconsistent structure. Inaccurate or brief descriptions of the tax system Little use of examples. No use of commercial terms and vocabulary Response has little structure. Demonstrates little knowledge of the tax system.

9-10

7-8

5-6

3-4 1-2

Candidate:

Mark:

Marker:...

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2005 Year 10 Commerce Mid Year Examination Write a report that describes the Job Seeking Process, including a brief overview of research and curriculum vitae and a detailed description of good interview skills Mark Range

Criteria
Integrates commerce terms and vocabulary throughout the response Uses a logical and clearly structured style. Includes both an introduction and a conclusion Accurately outlines issues such as: - locations of job vacancies - structure of an application letter - contents of a CV Describes in detail the skills needed to succeed in a job interview Consistently uses examples to assist in explaining ideas and concepts. Consistently uses commerce terms and vocabulary throughout the response Uses a clearly structured style. Outlines issues such as: - locations of job vacancies - structure of an application letter - contents of a CV Accurately describes the skills needed to succeed in a job interview Uses examples to assist in explaining ideas and concepts. Uses some commerce terms and vocabulary throughout the response Uses a simple structure. Outlines more than one stage in job seeking: Outlines some of the skills needed to succeed in a job interview May use examples to assist in explaining ideas and concepts Limited use of commerce terms Response has an inconsistent structure. Identifies more than one stage in job seeking: Identifies more than one skills needed to succeed in a job interview. Little or no use of examples. No use of commercial terms and vocabulary Response has little structure. Demonstrates little knowledge of the job seeking..

9-10

7-8

5-6

3-4

1-2

Candidate:

Mark:

Marker:.

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