Module 3 Earning Power Review

Luiz works 17.5 hours a week. If he earns $7.50 an hour and is paid every two weeks, what is his gross pay for the last two-week pay period?

• $262.50

• $393.75

• $525.00

• $637.50

(Continued from #1) Luiz received a 50-cent raise and now has insurance benefits. He worked 35 hours one week and 42 hours the second week of the recent pay period. And his deductions totaled $217.90. What is his net pay?

• $359.60

• $398.10

• $406.10

• $577.50

Which of the following is a major factor in helping you achieve your financial goals?

• Your job choice

• The amount of overtime you work

• Your ability to balance work and personal life

• Where you live

Ben really enjoys outdoor activities. When he isn't working, he's biking, hiking, sailing, or training to run marathons. Which of the following criteria would ben think is the least important as he decides on a career to support his lifestyle?

• High paying

• Employee benefits such as paid vacations or health insurance

• Flexible work schedule

• Location- away from a major city

Of the following types of jobs, which would be the best option to support the hobby of Alison, who performs in a band for area festivals, dances, and receptions?

• On-call emergency room nurse

• Hotel night clerk

• Dental assistant

• Volunteer fire-fighter

Which is an example of an opportunity cost related to earning potential?

• Reduce income by cutting back on work hours to have time to attend classes at the local community college.

• Apply for a scholarship to pay for college tuition and a new computer.

• Improve time management skills.

• Decide on a career that fits into your desired lifestyle.

Janelle is applying to work a full-time job next summer. So far, her only paid work experience has involved babysitting. She’s worried that she lacks the skills and experience needed to get a summer job at a local business. What should Janelle tell an employer who asks about her work experience?

• Point out the skills and responsibilities required when she was paid to provide child care.

• State the skills used when she participated in school plays and classroom activities.

• Summarize the skills she developed while living in Spain as an exchange student.

• All of the above.

Which of the following is an example of an employee benefit?

• Retirement Fund

• Health Clinic

• Scholarship Opportunities

• All of the above

Invest in Yourself can best be described as:

• Putting money aside for large purchases

• Buying a new laptop to use in college

• Gaining the necessary education and/or training needed to be successful in adulthood

• Creating a spending plan and following that plan

What is the difference in potential income between a bachelors degree and someone who earned a high school diploma?

• $435,000

• $2,145,000

• $1,051,000

• $1,898,000