Personal Finance: 3.01 - 3.07 Review

Which of the following statements is NOT true?

• Most people have several careers throughout their lifetime.
• Jobs are paid positions.
• People can develop human capital in a variety of ways.
• Transferable skills can be applied to many personal and professional roles.

Jose has been challenged by his academic advisor to ‘develop some human capital’ this school year. Which activity below would be the LEAST effective way to reach that goal?

• Spend additional time playing video games to further develop his eye‐hand coordination.
• Volunteer to pick up trash along the roadsides.
• Attend a workshop on a topic he has little knowledge of.
• Ask his employer if there are any new tasks at work that he might be assigned.

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 well-being.
• 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