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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

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2005 Year 10 Commerce Mid Year Examination Blank Page 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 Bachelor’s Degree School Certificate Diploma Master’s Degree 3. Qualifications gained at university and at TAFE are recognised as part of which framework? A B C D 2. Which of the following is not an example of financial assistance offered to students? A B C D Youth allowance Austudy HECS Abstudy 5. C D Prerequisite Precourse Preschool Precommence 3 . B. Which level of government in Australia funds universities? A B C D Federal State Local Both A & B 4.2005 Year 10 Commerce Mid Year Examination Part A Complete on the answer sheet provided 1. What word or term is used to describe criteria that someone needs before he or she can commence a course? A.

D. C. What do allowable deductions enable you to do? A. B.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 4 . D. A group certificate shows which of the following information? A B C D Income earned for the period of your employment. By people over the age of 18. B. Pay As You Go. C. C. B. B. D. PAYG stands for which of the following options? A. 11. D. C. Pay As You Earn. 7. Which of the following equations would you use to calculate your taxable income? A. 10. 9. Reduce your gross taxable income. Taxation paid by you to the Australian Tax Office Your personal details and Tax File Number All of the above 8. Pay As You Get it. None of the above. Increase your weekly net income. Gross income – Net income Total income . By people who earn more than $6000 in a year By people who spend more than $999 each year. By people who buy goods and services.2005 Year 10 Commerce Mid Year Examination 6. Who pays GST? A. Reduce you net taxable income. Increase your weekly gross income.

5 . 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. 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 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 15.2005 Year 10 Commerce Mid Year Examination 12. 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. Before a bill can become law in the Federal Parliament.General President Speaker Serjeant-at-arms 14.

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 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. 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) 6 .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.

000 $50. Show all working (3 marks) ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ _______________________________________________________________ 7 .380 plus 42c for each $1 over $50.001 .500? (1 mark) _____________________________________________________________ (c) Calculate the tax payable on $52.000 Nil 17c for each $1 over $6.000 $6.580 plus 47c for each $1 over $60.001 – $20.001 – $60.2005 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 – $6.478.000 $15.000 Tax on this income $20.380 plus 30c for each $1 over $20. ( 1 mark) _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ (b) What is the marginal tax rate for a person earning $82.000 $2.000 Over $60.000 $11.$50.000 (a) What is a tax bracket .

21 +0.09 +0.06 -0.775 2.37 +3.70 -0.881 311.07 0.34 -3.01 +0.07 1.369 41.07 +0.11 +0.11 3.05 0.10 -1.03 -0.70 Swing % +0.412.07 +0.09 1.aec.08 +0.694 250.21 0.70 +0.22 0.670 53.25 +2.807 4.418 1.07 0.15 +0.501 Percentage % 36.115 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.08 0. FORMAL INFORMAL TOTAL Votes 1.132 2.70% Enrolment: 4.01 +0.108 29.391.329.02 -0.19 0.03 +0..490 11.12 94.01 0.17 +0.577 0 3.099.415 151.16 9..165 2.500 7.2005 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.77 +0.04 Source: www.19 1.77 0.30 0.132 3.09 0.09 0.516 3..00 93.072 47.511 353. Service & Veterans Party Family First liberals for forests New Country Party Nuclear Disarmament Party Outdoor Recreation Party Socialist Alliance Independent Non Affiliated .gov.10 0.93 0. First Preference Votes for New South Wales Votes Counted: 94.88 6.00 -0.824 341 3.04 -0.07 0.au Name____________________________ Class (Circle):WT JS HN PN JA RS 8 .229 3.70 36.03 -3.58 -0.40 8.621 8.03 0.848.505 4.007 1.05 +0.436 2.

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 a donkey vote is. Describe what an informal vote is.2005 Year 10 Commerce Mid Year Examination Question 22 (cont) (a) According to the table. (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 9 . (1 mark) ________________________________________________________________ ________________________________________________________________ (c) There is no mention of a donkey vote on the table.

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) ________________________________________________________________ ______________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ 10 .

This would be worth $13 a week or $680 a year when fully implemented in 2008. Labor is also proposing to divert income generated by the promised Future Fund to finance infrastructure and productive investment. last night signalled Labor was not prepared to compromise with the Government on the tax cuts. 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". Kim Beazley. The Treasurer.000 who stood to gain $65 a week would have their weekly tax break shrunk to $40.H on May 13th.2005 Year 10 Commerce Mid Year Examination Question 23( 5 Marks) Read the following extract from the S. The fund is estimated to be worth $140billion by 2020. yesterday introduced the tax legislation. 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. Peter Costello.1billion over four years from next January. Labor costs its tax pledge at $24.M. a saving of $2." he said.46. instead of public sector superannuation as pledged by the Government. lifting the taxfree threshold from $6000 a year to $10.000." 11 . 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. "They are demonstrating that they stand for higher taxes by trying to delay this bill. saying: "We are voting for our package in the Senate. has played Robin Hood.5billion. 2005 and answer the questions which follow. up by about $2billion on the Government package.000 for people earning up to $20. Wayne Swan. Labor would finance the extra cost by blocking the removal of the superannuation surcharge. The Opposition Leader's proposal includes a welfare-to-work tax "bonus". Those on $125. The shadow treasurer. under the Labor plan announced last night. The Labor leader.

(2 marks) ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ _____________________________________________________________ ________________________________________________________________ _____________________________________________________________ End of Part B (we hoped you enjoyed it) 12 .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.

answer the question below. 13 . Outline the responsibilities of the different levels of government in Australia. What is a government? Describe how the people living in Australia are governed.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.

including a brief overview of research and curriculum vitae and a detailed description of good interview skills.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. (Describe: Provide characteristics and features) End of Examination 14 .

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 15 .

No use of commercial terms and vocabulary Response has little structure. Consistently some commerce terms and vocabulary Response has some characteristics of an essay. Includes both an introduction and a conclusion Describes in detail the role of governments and the structure of Australia’s federal system. Demonstrates little knowledge of the role of government or its responsibilities. Consistently uses commerce terms and vocabulary Uses a clear essay style. Accurately describes the role of governments and the structure of Australia’s federal system of government. Uses current examples to assist in explaining ideas and concepts. 16 . Mark Range • • • • • • • • • • • • • • • • • • • • • • • • Criteria Integrates commerce terms and vocabulary throughout the response Uses a logical and clearly structured essay style.. Describes the role of government in Australia in brief or inaccurate terms Identifies more than one of the responsibilities of the government. 17-20 13-16 9-12 5-8 1-4 ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… Candidate:…………………… Mark:………………………… Marker:…………. Identifies a number of the responsibilities of the three levels of government. Limited use of commerce terms Response has an inconsistent structure. Identifies a wide range of the responsibilities of the three levels of government. Uses some current examples to assist in explaining ideas and concepts. the role of governments and shows some understanding of the structure of Australia’s federal system of government. including the role of the houses of parliament. Little use of real examples. Describes. May use some current examples to assist in explaining ideas and concepts. in general.. Demonstrates a precise and extensive knowledge of the responsibilities of the three levels of government. Outline the responsibilities of the different levels of government in Australia.2005 Year 10 Commerce Mid Year Examination What is a government? Describe how the people living in Australia are governed.

the role of allowable deductions . No use of commercial terms and vocabulary Response has little structure. Accurately describes issues such as: .how tax scales operate . Includes both an introduction and a conclusion Describes in detail: . 9-10 • • • • 7-8 • • • • • • • • • • • • 5-6 3-4 1-2 ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… Candidate:…………………… Mark:………………………… Marker:…………. Demonstrates little knowledge of the tax system.how the tax system is progressive .the role of allowable deductions .how the tax system is progressive . Inaccurate or brief descriptions of the tax system Little use of examples.how tax payable is calculated Uses examples to assist in explaining ideas and concepts. Generally describes more than one issue to do with the income tax system. Uses some commerce terms and vocabulary throughout the response Uses a simple structure.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.how tax payable is calculated Consistently uses examples to assist in explaining ideas and concepts.. 17 .how tax scales operate .. Mark Range • • • • Criteria Integrates commerce terms and vocabulary throughout the response Uses a logical and clearly structured style. Consistently uses commerce terms and vocabulary throughout the response Uses a clearly structured style. Uses examples to assist in explaining ideas and concepts Limited use of commerce terms Response has an inconsistent structure.

Includes both an introduction and a conclusion Accurately outlines issues such as: .locations of job vacancies .contents of a CV Accurately describes the skills needed to succeed in a job interview Uses examples to assist in explaining ideas and concepts. 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. Uses some commerce terms and vocabulary throughout the response Uses a simple structure.locations of job vacancies . Little or no use of examples. Demonstrates little knowledge of the job seeking. Outlines issues such as: . Identifies more than one stage in job seeking: Identifies more than one skills needed to succeed in a job interview. No use of commercial terms and vocabulary Response has little structure.2005 Year 10 Commerce Mid Year Examination Write a report that describes the Job Seeking Process. 18 . 9-10 • • • • • 7-8 • • • • • • • • • • • • • • • 5-6 3-4 1-2 ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… Candidate:…………………… Mark:………………………… Marker:………….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.structure of an application letter .. 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.structure of an application letter .