Which of the following refers to amounts taken from your paycheck for various obligations, such as taxes and insurance payments?

The term that refers to amounts taken from your paycheck for various obligations, such as taxes and insurance payments, is indeed deductions. Deductions are the pre-tax and post-tax amounts that are deducted from an employee's gross pay to arrive at the net pay, which is the amount the employee takes home. These deductions can include federal and state taxes, Social Security contributions, health insurance premiums, retirement plan contributions, and other withholdings.

Understanding deductions is essential in personal finance management, as they affect the total amount of money that an individual receives in their paycheck. Recognizing the various types of deductions can help individuals plan their budgets more effectively and understand their overall compensation package, including benefits beyond just the salary.