Personal Finance Review

One’s Lifestyle is to their Standard of Living as present is to  _?

•  Past
•  Recent
•   Future
•  Gift

Miranda is working to develop a broad base of transferable skills. This means that she:

•  Needs to maintain at least a part time job during the school year.
•  Use her available hours outside of school for paid employment rather than volunteering.
•  Will not have as much time to develop her human capital.
•   Will have a set a versatile skill that she can apply to many personal and professional roles.

Eric is writing a paper on the importance of investing in yourself and he is looking for a sentence to use as the thesis statement for his paper. Which sentence below would be the best choice?

•  Completing your college degree is the best way to prepare for a career.
•  Education pays in higher earnings and lower unemployment rates.
•  Human capital and transferable skills result from formal training.
•  Investing in yourself too early can lead to a lower standard of living.

An example of a transferable skill is a skill:

•  used in your job that you acquired through past jobs, volunteering, hobbies, school sports, or other life experiences.
•  that can only be used in an individual’s job or career.
•  that each employer requires you to learn.
•  that is learned at one job and is required at other jobs as well.

Lora is a high school computer and technology teacher. She enrolls in a computer class at least twice per year to stay current on recent technology changes and updates. By continuing her education, Lora is investing in her:

•  salary
•  human capital
•   family
•  interest inventory

Individuals with more formal educational training usually have:

•  higher estimated lifetime earnings
•  lower personal satisfaction
•  greater amounts of leisure time
•  more comfortable work environments.

Zoe has been assigned by her school counselor to complete a career assessment. Which statement BEST describes why her counselor has suggested she do this?

•  Her counselor wants Zoe to find a career that will provide a high level of income to support Zoe’s lifestyle and wellbeing.
•  Her counselor wants Zoe to match her skills, abilities, interests and values with a list of specific occupations.
•  Her counselor wants Zoe to conduct interviews with people in her area of interest to determine if she truly enjoys the career she wants to prepare for.
•  Her counselor wants Zoe to search for a career that will allow occupational flexibility and provide for possible career advancement as she gains more experience working in her selected career.

Joanna has arranged to complete a job shadow with a physical therapist to decide if this is a career she wants to pursue. Which of her concerns is she MOST LIKELY to have answered as a result of her job shadow?

•  The future outlook for physical therapy jobs
•  The amount of money physical therapists earn
•  Common tasks and typical daily activities
•  Opportunities for advancement in the career

Which statement WOULD NOT be true about the value of career research?

•  Everyone values different aspects of an occupation. One person might value the flexible schedule a particular job offers and another might care more about the amount of training that career might require.
•  Current job availability and the outlook for future employment are as essential to consider as whether you have the skills, interest and abilities to pursue a particular career.
•    Opinions from different people working in the occupation should be considered before ruling out a particular career. . 
•  There are many careers that would support your well‐being. Career exploration allows you to find the one that pays the most so your well‐being is enhanced to the highest degree.

Career assessments help to identify:

•  the job an individual should have if he/she wants high well‐being
•  positions available in a particular occupation
•  fastest and slowest growing careers in a particular occupation
•  possible career areas related to one’s interests