Personal Finance Chapter 1 and 2

What is the job market?

• Jobs available for workers

• a place to find a job

• what kind of job you want

• a type of job

What is your skill set

• unique skills and abilities you bring to the job market

• what an employer hires you for

• the same for every job

• the same for every person

What are hard skills?

• measurable physical and mental skills that allow you to complete a job

• nontechnical skills needed by most workers to be successful

• skills that are difficult to learn

• skills that you learn in college

What are soft skills?

• measurable physical and mental abilities that allow you to complete a job

• nontechnical skills needed by most workers for success in a job

• easy to acquire skills

• skills you learn in high school

What is formal education?

• attending classes and earning degrees

• things you learn in everyday life

• lessons passed down through your family

• things you learn from a mentor

What is informal education?

• things like self training or on the job training

• attending classes and earning degrees

• things you read about online

• education from social media

What does tuition include?

• the cost of taking classes in college

• books for college

• living in a dorm and eating in a dining hall

• paying for on campus facility use

Student loans have to be paid back

• true

• false

grants and scholarships have to be paid back

• true

• false

When do you owe interest on SUBSIDIZED student loans

• right when you take them out

• when you graduate/leave school

• after 10 years

• after 5 years