Unit 1 -- Education and Work EPF Review

How would a person's decision to quit high school most likely affect future earnings? EPF.IE.1.2/EPF.IE.1.5

• A. It would not affect future earnings.

• B. It would reduce future earnings.

• C. It would increase future earnings.

• D. It would result in no future earnings.

How does the decision to go to a trade school rather than a university affect the long-term financial goals of an individual? EPF.IE.1.3

• A. It leads to more hands-on training and more difficulty finding a job.

• B. It leads to less hands-on training and less difficulty finding a job.

• C. It creates less debt from tuition and the ability to enter the workforce sooner.

• D. It creates more debt from tuition, and trade school takes longer to complete.

How can education influence a person's career plans and goals? EPF.IE.1.1

• A. Earning a degree or certification can lead to a person getting a job with a higher starting wage.

• B. Going straight into a job helps a person to earn necessary certifications more quickly.

• C. Going straight into a job allows someone to skip over entry-level positions.

• D. Earning a degree reduces debt and makes it easier to pay bills.

How does the decision to earn a bachelor's degree contribute to a long-term financial plan? EPF.IE.1.1

• A. It decreases the amount of potential income in a household.

• B. It increases the amount of potential income in a household.

• C. It increases the amount of expenditures in a household.

• D. It decreases the amount of job opportunities for an individual.

How can enlisting in the military potentially benefit a person's financial future? EPF.IE.1.1

• A. Enlistment provides, until retirement, the opportunity to earn a high school equivalency certificate.

• B. Enlistment provides monetary options in U.S. military bonds.

• C. Enlistment provides grants and loans to help pay for community college or university tuition.

• D. Enlistment provides a high-paying job upon discharge.

How can improving professional development affect individual financial goals? EPF.IE.1.1

• A. It increases an individual's eligibility to obtain loans.

• B. It makes an individual more qualified for positions with greater income.

• C. It improves an individual's access to Social Security benefits.

• D. It typically guarantees an individual a new job after training is complete.

How will a person's choice to accept a job out of high school instead of attending college most likely affect her financial plan? EPF.IE.1.2

• A. The woman will earn less money immediately but may have more business opportunities for making money in the long term.

• B. The woman will lack the opportunity to master skills immediately but will have more opportunities for professional development in the long term.

• C. The woman will have fewer credit needs immediately but will accrue student loan debt in the long term.

• D. The woman will begin generating income immediately but may earn lower income in the long term.

What effect does education have on the salary and employment of individuals? EPF.IE.1.2/EPF.IE.1.3

• A. Individuals with higher levels of education are more likely to have higher weekly earnings and lower rates of unemployment.

• B. Individuals with a high school diploma are more likely to be unemployed than individuals without a high school diploma, but their salary will not be affected.

• C. Obtaining a doctoral degree ensures that individuals will receive the highest weekly earnings and guarantees employment.

• D. Obtaining a college degree ensures that individuals will be employed, but their salary may not necessarily be higher.

Which is a result of a person choosing a technical education over attending a university? EPF.IE.1.2/EPF.IE.1.3

• A. She will be able to enter the workforce sooner with a specific skill and less debt.

• B. It will take her longer to enter the workforce, but she will have less debt.

• C. She will not be able to start saving for retirement quite as soon; however, her debts will be lower.

• D. It will be cheaper for her to attend a community college, but she will not be able to take out student loans.

Why is a post-secondary education or training important to workers entering the job force? EPF.IE.1.1/EPF.IE.1.2

• A. Only a few jobs require a degree or training, making financial success more attainable for all workers.

• B. Several types of jobs require both a degree and training, causing workers to try harder to make more money.

• C. Jobs that require post-secondary education or training usually offer more financial stability.

• D. Very few jobs require a degree or training, allowing more freedom for workers.