FM Unit 12

A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments.

• Career

• Federal Perkins Loan

• Federal Stafford Loan

• Job

• Return on Investment

A federal education loan for student with exceptional financial need which carries a lower interest rate and offers a longer grace period before repayment must begin.

• Career

• Federal Perkins Loan

• Federal Stafford Loan

• Job

• Return on Investment

An occupation undertaken for a significant period of a person’s life and with opportunities for advancement.

• Career

• Federal Perkins Loan

• Federal Stafford Loan

• Job

• Return on Investment

A paid position of regular employment with little room for advancement.

• Career

• Federal Perkins Loan

• Federal Stafford Loan

• Job

• Return on Investment

Needs based loan

• Career

• Subsidized Loan

• Federal Stafford Loan

• Unsubsidized Loan

• Return on Investment

Loan that is not needs based

• Career

• Subsidized Loan

• Federal Stafford Loan

• Unsubsidized Loan

• Return on Investment

The most common type of federal education loan; it is available in two forms subsidized and unsubsidized

• Career

• Subsidized Loan

• Federal Stafford Loan

• Unsubsidized Loan

• Return on Investment

What is the best description of an associate’s degree?

• A four-year college degree from a college or university at the undergraduate level.

• A graduate degree earned after completion on an undergraduate degree

• A two-year college degree from a community college, university, or career school.

• The highest level of academic degree.

The best definition of personal financial planning is

• A process of mapping decisions for spending, borrowing, and saving and investing in order to achieve financial goals.

• An investment schedule established by a financial advisor to help a person pay a debt.

• The process of determining how much a person can afford to pay for a house based on the person’s income.

• The comparison between the cost of education and a person’s projected income.

In deciding whether to pursue additional education and training for a job, a person decides to do a cost/benefit analysis. This is a good idea because it will help her to

• decide whether the benefits she believes she will have in a certain job and career are worth the financial and quality of life costs associated with gaining the necessary skills and education.

• determine how many years it will take before she can enjoy the benefits of retirement.

• compare the costs of different educational programs and different colleges to the benefit of beginning a career without any additional education.

• determine whether the benefits package a company offers will cover the cost of the education required for the job.