Personal Finance 3.01-3.07 Review Quiz

Which statement 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.

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.

• should 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 of versatile skills that she can apply to many

  personal and professional roles.

Jose has been challenged by his academic adviser to develop some human capital this school year. Which activity 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.

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.

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

In order to make an informed career decision, a high school

student will want to:

• commit to a profession that requires a college degree.

• choose a career that offers the amount of money desired.

• develop personal goals, complete a career assessment, and

  research careers.

• choose a training program that will guarantee employment

  after the course work is completed.

David plans to apply for college in 2 years. His guidance counselor suggested that he begin adding items to a College/Training application folder. Which items

would not be helpful as additions to this folder?

• Copies of awards and achievements he earns

• A list of all the extracurricular activities he gets involved in

• A resume of all community service and volunteer work he is

  actively involved in

• Copies of his elementary and middle school report cards

As Jonah plans for his future, his family has challenged him to create a SMART goal for his career education and training. Which question is the least important one to consider at this point?

• What kind of training and education do I need and how much

  will it cost?

• Is there a career pathway available if I continue my education and training?

• Can I get the education and training I need near where I

  currently live?

• Can I get the education and training I need near where I

  currently live?

The money one would have earned if she/he had worked instead of continuing her/his education is called the:

• debt-to-income ratio.

• opportunity cost.

• benefit.

• total estimated cost.