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WorksheetsPersonal Finance 3.01-3.07 Review Quiz
Total questions: 20
Worksheet time: 14mins
Which statement is not true?
Most people have several careers throughout their lifetime.
Jobs are paid positions.
People can develop human capital in a variety of ways.
Transferable skills can be applied to many personal and
professional roles.
Miranda is working to develop a broad base of transferable skills. This means that she:
needs to maintain at least a part time job during the school
year.
should use her available hours outside of school for paid
employment rather than volunteering.
will not have as much time to develop her human capital.
will have a set of versatile skills that she can apply to many
personal and professional roles.
Jose has been challenged by his academic adviser to develop some human capital this school year. Which activity would be the least effective way to reach that goal?
Spend additional time playing video games to further develop
his eye-hand coordination.
Volunteer to pick up trash along the roadsides.
Attend a workshop on a topic he has little knowledge of.
Ask his employer if there are any new tasks at work that he
might be assigned.
Eric is writing a paper on the importance of investing in yourself and he is looking for a sentence to use as the thesis statement for his paper. Which sentence below would be the best choice?
Completing your college degree is the best way to prepare for
a career.
Education pays in higher earnings and lower unemployment
rates.
Human capital and transferable skills result from formal
training.
Investing in yourself too early can lead to a lower standard of
living.
Zoe has been assigned by her school counselor to complete a career assessment. Which statement best describes why her counselor has suggested she do this?
Her counselor wants Zoe to find a career that will provide a
high level of income to support Zoe’s lifestyle and well-being.
Her counselor wants Zoe to match her skills, abilities,
interests and values with a list of specific occupations.
Her counselor wants Zoe to conduct interviews with people in
her area of interest to determine if she truly enjoys the career
she wants to prepare for.
Her counselor wants Zoe to search for a career that will allow
occupational flexibility and provide for possible career
advancement as she gains more experience working in her
selected career.
Joanna has arranged to complete a job shadow with a physical therapist to decide if this is a career she wants to pursue. Which of her concerns is she most likely to have answered as a result of her job shadow?
The future outlook for physical therapy jobs
The amount of money physical therapists earn
Common tasks and typical daily activities
Opportunities for advancement in the career
In order to make an informed career decision, a high school
student will want to:
commit to a profession that requires a college degree.
choose a career that offers the amount of money desired.
develop personal goals, complete a career assessment, and
research careers.
choose a training program that will guarantee employment
after the course work is completed.
David plans to apply for college in 2 years. His guidance counselor suggested that he begin adding items to a College/Training application folder. Which items
would not be helpful as additions to this folder?
Copies of awards and achievements he earns
A list of all the extracurricular activities he gets involved in
A resume of all community service and volunteer work he is
actively involved in
Copies of his elementary and middle school report cards
As Jonah plans for his future, his family has challenged him to create a SMART goal for his career education and training. Which question is the least important one to consider at this point?
What kind of training and education do I need and how much
will it cost?
Is there a career pathway available if I continue my education and training?
Can I get the education and training I need near where I
currently live?
Can I get the education and training I need near where I
currently live?
The money one would have earned if she/he had worked instead of continuing her/his education is called the:
debt-to-income ratio.
opportunity cost.
benefit.
total estimated cost.
Sean plans to attend college in 2 years. He and his family have saved some money to help pay for it but he wants to explore ways he can receive money he won’t have to repay. Which set of options should he explore?
Federal Perkins Loans, PLUS loans, and local bank loans
Federal Student Grants, PLUS loans, and scholarships
Pell Grants, work-study, and scholarships
Work-study, scholarships and PLUS loans
The money one would have earned if she/he had worked instead of continuing her/his education is called the:
debt-to-income ratio.
opportunity cost.
benefit.
total estimated cost.
It is recommended that one's educational loan payments require no more than 10–15% of one's estimated starting income. What should a student consider in order to calculate this amount?
Opportunity cost
Career pathway
Benefit
Debt-to-income ratio
Direct Subsidized Stafford Loans offer some features that are different when compared to borrowing money from a bank to pay for college. Which is not a difference between a Direct Subsidized Stafford Loan and a typical bank loan?
Interest rates for Stafford loans tend to be higher because the
loans are held for a relatively long period of time.
Stafford loans have deferment options.
Stafford loans typically have a grace period.
Student families must complete a FAFSA (Free Application For
Federal Student Aid) in order to apply for a Stafford loan.
The average cost of basic necessities, such as housing and food for a particular city is call the:
Standard of Living
Lifestyle
Cost of Living
Economy of Living
Rob’s parents asked him what employee benefits his employer was providing. Which would be considered
employee benefits?
monthly salary
location within walking distance of his apartment
paid sick leave
travel opportunities
Jamie has elected to be paid by direct deposit at her new job. This means _____.
She will receive her paycheck mailed directly to her each pay period.
She will receive her pay directly into her checking account at her depository institution for each pay period.
She will receive her pay automatically loaded onto her payroll card at the end of each pay period
She will receive her paycheck delivered directly to her at her place of employment at the end of each pay period.
Gross income – deductions = _______________
social security
medicare
net income
employee benefits
The regular schedule that employers pay their employees is called the __________.
worker's compensation
pay period
employee benefits
employer contributions
Bob is working for a bank. He earns $8.00 an hour, works 40 hours a week, and gets paid every 2 weeks. Every pay period he pays $63.08 into federal withholdings tax, $33.21 into state withholdings tax, and $42.05 into FICA (Social Security Tax). What is Bob's GROSS PAY on his paycheck?
$501.66
$320.00
$576.92
$640.00
