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WorksheetsPrep, Plan, and Pay for Higher Education
Total questions: 39
Worksheet time: 33mins
Name
Class
Date
1.
_________________ is sequences of increasingly advanced courses designed to bring academically unprepared students to the academic skill level expected when entering higher education:
a)
Remediation
b)
Backwards planning
c)
Career pathway
d)
Job outlook
2.
_________________ is a strategy in which you start with the end goal and plan backwards to determine the steps needed to get to that end goal.
a)
Backwards Planning
b)
Career Pathway
c)
Debt-to-income ratio
d)
Remediation
3.
________________ is a series of connected education and training programs that allow you to secure a job and then to advance within an industry or occupation.
a)
Debt-to-income ratio
b)
Backwards Planning
c)
Career Pathway
d)
Job outlook
4.
Monthly Loan Payment / Monthly Starting Wages = _________________It's a standard tool that calculates whether a borrower will have difficulty meeting his or her loan repayment obligations.
a)
Backwards planning
b)
Debt-to-income ratio
c)
Career pathway
d)
Job outlook
5.
The demand for a particular job when you are qualified and ready to enter the field.
a)
Job outlook
b)
Backwards planning
c)
Career pathway
d)
Debt-to-income ratio
6.
Individuals with more formal educational training usually have:
a)
higher estimated earnings
b)
lower personal satisfaction
c)
greater amounts of leisure time
d)
more comfortable work environments
7.
An example of a transferable skill is a skill:
a)
used in your job that you acquired through past jobs, volunteering, hobbies, school sports, or other life experiences.
b)
that can only be used in an individual's job or career.
c)
that each employer requires you to learn.
d)
that is learned at one job and is required at other jobs as well.
8.
Ones lifestyle is to their Standard of Living as present is to:
a)
past
b)
recent
c)
future
d)
gift
9.
Career Assessments help to identify:
a)
the job the individual should have if he/she wants high well-being.
b)
positions available in a particular occupation.
c)
fastest and slowest growing careers in a particular occupation.
d)
possible career areas related to one's interests.
10.
The___ of continuing your education is the money you would have earned if you have worked instead.
a)
debt-to-income ratio
b)
opportunity cost
c)
benefit
d)
total estimated cost
11.
Steven is considering taking a job with a company that is offering gym memberships, flexible hours, repayment of education loans, merchandise discounts, and childcare. These components of the job offer are called:
a)
employee benefits
b)
job perks
c)
work incentives
d)
competitive hiring practices
12.
The regular work schedule that employers pay their employees is called the:
a)
workers compensation
b)
pay period
c)
employee benefits
d)
employer contributions
13.
The most secure method for an employer to pay employees is to use:
a)
payroll card
b)
printed paycheck
c)
in-store credit
d)
direct deposit
14.
Common fees that may be charged by a depository institution include all EXCEPT:
a)
overdraft fee
b)
late fee
c)
ATM fee
d)
minimum balance fee
15.
Taxes that are charged on consumption items such as gasoline, hotel rooms, and airline tickets are called taxes.
a)
Sales
b)
Excise
c)
Federal use
d)
property
16.
As Mariah was looking over her sales receipt for the shirt she bought at a retail store, she discovered that she was charged 6% more than the price tag on the item. What is the extra 6% charge most likely to be?
a)
An excise tax on the shirt she purchased.
b)
Property tax on the shirt she purchased.
c)
Income tax on the shirt she purchased.
d)
Sales tax on the shirt she purchased.
17.
Kaylee will save her allowance of $25 per month to purchase a $150 mp3 player in six months. This is an example of what type of goal?
a)
short-term goal
b)
long-term goal
c)
mid-term goal
d)
This is not an example of a goal.
18.
Kaylee will save her allowance of $25 per month to purchase a $150 mp3 player in six months. This is an example of what type of goal?
a)
short-term goal
b)
long-term goal
c)
mid-term goal
d)
This is not an example of a goal.
19.
Who is Medicare designed to help?
a)
Low income families
b)
Single parents
c)
Senior Citizens
d)
Children of unemployed parents
20.
Mark and Susan, a recently married couple with full‐time jobs, set a goal of putting $200 in savings every month to make a down payment on a home in five years. What type of goal have they set?
a)
Short-term
b)
Intermediate
c)
Long-term
d)
Unrealistic
21.
The average cost of basic necessitiies, such as housing and food for a particular city is called the "
a)
Cost of Living
b)
Lifestyle
c)
Economy of Living
d)
Standard of Living
22.
Common fees that may be charged by a depository institution include all EXCEPT:
a)
overdraft fee
b)
late fee
c)
ATM fee
d)
minimum balance fee
23.
Taxes that are charged on consumption items such as gasoline, hotel rooms, and airline tickets are called taxes.
a)
Sales
b)
Excise
c)
Federal use
d)
property
24.
As Mariah was looking over her sales receipt for the shirt she bought at a retail store, she discovered that she was charged 6% more than the price tag on the item. What is the extra 6% charge most likely to be?
a)
An excise tax on the shirt she purchased.
b)
Property tax on the shirt she purchased.
c)
Income tax on the shirt she purchased.
d)
Sales tax on the shirt she purchased.
25.
Kaylee will save her allowance of $25 per month to purchase a $150 mp3 player in six months. This is an example of what type of goal?
a)
short-term goal
b)
long-term goal
c)
mid-term goal
d)
This is not an example of a goal.
26.
Who is Medicare designed to help?
a)
Low income families
b)
Single parents
c)
Senior Citizens
d)
Children of unemployed parents
27.
Mark and Susan, a recently married couple with full‐time jobs, set a goal of putting $200 in savings every month to make a down payment on a home in five years. What type of goal have they set?
a)
Short-term
b)
Intermediate
c)
Long-term
d)
Unrealistic
28.
To combine financial accounts/funds into a single overall account
a)
Consolidate
b)
Cost of Attendance (COA)
c)
Forbearance
29.
Total amount it will cost you to go to school (tuition, fees, and personal expenses)
a)
Cost of Attendance (COA)
b)
Consolidate
c)
Financial need
30.
Postponement of payment on a loan allowed under certain conditions and during which interest does NOT accrue
a)
Deferment period
b)
Expected Family Contribution (EFC)
c)
Grace period
31.
An estimate of ability to contribute to college expenses.
a)
Cost of Attendance (COA)
b)
Expected Family Contribution (EFC)
32.
The common name for the Free Application for Federal Student Aid form prepared annually to determine eligibility for post-secondary financial aid
a)
FAFSA
b)
Grant
33.
The difference btwn the cost of attending a particular school and the expected family contribution
a)
Forbearance
b)
Financial need
34.
A tax-exempt financial aid that may be given for many purposes, not necessarily just for education
a)
Grant
b)
Financial need
35.
Ability to stop or reduce loan payments for up to 12 months while interest is accruing
a)
Forbearance
b)
Deferment period
c)
Consolidate
36.
Period of time after a borrower graduates, leaves school or drops below half-time enrollment where they are not required to make certain federal loan payments
a)
Grace period
b)
Deferment period
37.
Failure to pay a loan according to the agreed upon terms
a)
Loan default
b)
Loan servicer
38.
Company that collects payment on a loan
a)
Loan default
b)
Loan servicer
39.
__________ = cost of attendance - grants and scholarships
a)
Net price
b)
Loan default
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