Career Planning and Development Concepts

Front

What is an employer sponsored retirement plan?

Back

A saving plan for retirement offered through a company benefits package, where contributions are usually matched by the company.

Front

How do you calculate your equity in your home?

Back

Equity is calculated as the market value of your home minus the outstanding loan balance.

Front

True or False: A rebate and a discount are the same thing.

Back

False: because a rebate often requires action after the sale.

Front

Why are 401K plans named 401K?

Back

They are named after the tax law that authorizes them.

Front

How are grants and scholarships awarded?

Back

Grants and scholarships can be awarded through both essay contests and competitions.

Front

What is the purpose of a retirement plan?

Back

To save and invest money for financial security during retirement.

Front

What is a defined benefit plan?

Back

A retirement plan where the employer guarantees a specific payout at retirement, based on salary and years of service.

Front

What is the difference between a rebate and a discount?

Back

A discount reduces the price at the time of purchase, while a rebate is a refund given after the purchase, often requiring action from the buyer.

Front

What is Social Security?

Back

A government program that provides financial assistance to retirees, disabled individuals, and survivors of deceased workers.

Front

What is the significance of the down payment in home buying?

Back

The down payment is the initial amount paid upfront when purchasing a home, which reduces the loan amount.