WorksheetsMidterm Study Guide Fall 2025
Total questions: 78
Worksheet time: 59mins
When gathering information about certain occupations, be sure to understand how you are paid. What is the difference between a salary and an hourly wage?
An hourly wage usually has benefits and is flexible, whereas a salary does not.
A salary is paid based on the time spent working, and an hourly wage is paid when the job is complete.
A salary is paid no matter how many hours you work, whereas an hourly wage is paid only for the time you work.
An hourly wage is paid in installments, whereas a salary is paid once a year.
What best describes the relationship between short-term and long-term goals?
Short-term goals are accomplished when you can't do long-term ones.
Short-term and long-term goals are the same thing, just different sizes.
Setting long-term goals now helps you reach short-term goals later.
Setting short-term goals now helps you reach long-term goals later.
Which of the following is an example of an interest leading to a career choice?
An interest in music leads to a career in zoology.
An interest in science leads to a career in hospitality.
An interest in helping others leads to a career in medicine.
An interest in animals leads to a career in marketing.
How can short-term goals best lead to accomplishing long-term career goals?
Following a list of specific steps to accomplish will guarantee a spot in a desired career.
By choosing one short-term goal, a person can accomplish a long-term career goal.
Learning skills, earning certifications, and gaining experience can prepare someone for a desired career.
Short-term goals are not needed to accomplish long-term career goals.
Learning design software, applying to college, and creating a website to showcase work are examples of ____________ that lead to a career as a graphic artist.
personality traits
soft skills
long term goals
short term goals
How can goal setting help with academic performance?
It is an effective study skill.
It helps you focus on what needs to be done and why.
Writing goals down makes them happen.
They help you understand the content better.
What study skill is being used when you take a large project and break it down into smaller, manageable tasks?
chunking
telescoping
goal setting
prioritizing
Which item is not part of a college application?
Application form and any fees.
Personal essay and high school grades.
Financial aid application and FAFSA form.
Letter of reference from people who have worked with you in the past.
A friend tells you that they cannot afford to pay for the standardized tests required to apply for college and military academies. How could you respond?
Just take a different type of standardized test that is free.
Just skip the tests; they are not that important anyway.
You can get a waiver that will pay for the tests.
Once you get accepted to a school, they will pay you back.
As a prospective student, what is the best reason to request an interview with your college application?
It could mean you are trying to distract from your grades.
It can show that you want to visit the campus.
It shows the college that you are truly interested.
It is the only way you can learn about the school's financial aid packages.
Which of the following will help you reach long-term goals?
Writing down your goals.
Taking care of your physical and mental health.
Breaking big goals into smaller ones.
All of the above.
When faced with needing additional money during college, which option is NOT true?
Taking on a job can make connections that lead to opportunities.
Paying with credit cards can end up costing more money.
Taking on a job can cut into study time.
Paying with additional loans can lead to connections and opportunities.
What research will help you prepare before you apply for a job?
Interviewing friends and family to know if the position is a good fit for you.
Researching the salary for that job.
Research on the subjects you need to study.
Informational interviews about the position and background research on the company.
How should resumes and cover letters be written to help you obtain a job that meets your career goals?
They should list your accomplishments and explain how your skills meet the needs of the job.
They should list any teachers who will give you a good reference.
They should include why you left your previous job.
They should list your hobbies.
How can a professional association help you achieve your career goals?
Membership can provide you with discounts on various products and books.
Joining a professional association is how you become a professional.
Professional associations host networking events and connect you with people in the careers and industries you are interested in.
Professional associations allow you to travel to many conferences and offer side trips to places you might want to visit for vacation.
A resume and cover letter help secure interviews. What can help you secure a job offer?
A written summary of the interview.
A thank you letter after the interview.
A post on social media about how great the interview went.
A text to show gratitude for being given an interview.
How can body language, tone of voice, and eye contact improve your ability to secure a job during an interview?
They allow you to say less, which is always good in an interview.
They can communicate a positive energy, which can show more interest and enthusiasm for the job.
These strategies actually don't communicate much, so don't worry about putting them into practice.
They help interviewers pay attention only to the words you use so you can communicate clearly.
Which of the following is a benefit of collaboration and teamwork?
It requires more work since you have to explain so much to other people.
It expands your social network and creates new connections.
It makes it easier to do your job since you can have other people do it.
It makes it more difficult to leave your current job.
Conflicts occur in all careers. What can help reduce the damage that a conflict can cause to a project or a team?
All of the above
Open communication
Seeking a win/win solution
Relationship building
Which website is recommended for researching occupational outlooks, including architecture?
https://www.bls.gov/ooh/
https://www.careers.org/
https://www.education.gov/
https://www.architecture.com/
What does the "M" in S.M.A.R.T. goals stand for?
Meaningful
Manageable
Motivational
Measurable
According to the S.M.A.R.T. method, what should you consider when determining if a goal is "Attainable" or "Achievable"?
The skills or resources needed, and the effort, time, or cost it will take
The number of people involved
The popularity of the goal
The location where the goal will be achieved
A student wants to improve their grades by the end of the semester. According to the S.M.A.R.T. framework, which aspect would require them to set a specific deadline?
Timely
Attainable
Measurable
Specific
If a student sets a goal to "get better grades in every class," which S.M.A.R.T. component would require them to quantify what "better" means?
Relevant
Timely
Measurable
Specific
Why is it important to consider if a goal is "Relevant" when setting a S.M.A.R.T. goal?
To ensure the goal is easy to achieve
To guarantee the goal is popular among peers
To make sure the goal is something you really want to do and that it aligns with your objectives
To check if the goal can be completed quickly
What is the main purpose of using the S.M.A.R.T. goal method?
To help pinpoint what to do to reach success.
To focus only on long-term goals.
To avoid setting any goals.
To make goals more complicated.
What is a key characteristic of a federal loan for college students?
You do not have to repay it.
It is only available to graduate students.
It is a type of scholarship.
You must repay it with interest.
Which statement best describes a federal grant?
Money earned by working on campus.
Money you must repay with interest.
Financial aid you don’t repay unless you leave school and owe a refund.
A private loan from a bank.
What is the main purpose of the Free Application for Federal Student Aid (FAFSA)?
To apply for federal financial aid
To apply for scholarships only
To apply for college admission
To register for classes
A student works on campus to earn money that is applied to school expenses. What type of federal aid is this?
Work-study
Loan
Grant
Scholarship
If a student leaves school and owes a refund, which type of aid might they have to repay?
Work-study only
Loan only
Both loan and grant
Grant only
What is the primary purpose of a personal mission statement?
To impress employers
To set financial goals
To outline a specific job description
To clarify one’s purpose and guide decisions and actions
What is an essential characteristic of an effective personal mission statement?
It should be vague and open to interpretation.
It should be specific, actionable, and inspiring.
It should be focused solely on financial success.
It should be long and detailed.
What is a common mistake when writing a personal mission statement?
Using complex language
Being too specific and detailed
Being too general and not specific
Including personal interests
Which of the following best describes the tone of a personal mission statement?
Casual and informal
Inspirational and personal
Formal and corporate
Objective and impersonal
How can a personal mission statement impact personal decision-making?
It has no impact on decision-making.
It is only useful for career-related decisions.
It provides a framework for making decisions aligned with one’s values and goals.
It limits decision-making to financial considerations only.
What is a key component to consider when crafting a personal mission statement?
How well it reflects your unique purpose and goals
The number of pages it has
Whether it is written in a corporate style
Whether it includes a list of professional accomplishments
What is the main purpose of a vision board?
To visualize and manifest goals and desires
To display favorite quotes and sayings
To use as a cutting board for crafts
To create a collage of family photos
How can vision boards help in achieving goals?
By providing a visual representation of desired outcomes and increasing motivation and focus.
By creating confusion and uncertainty.
By limiting creativity and innovation.
By causing distractions and reducing productivity.
What psychological principle underlies the effectiveness of vision boards?
Logical reasoning and critical thinking
Emotional suppression and denial
Visualization and positive thinking
Negative reinforcement and punishment
What are the key elements to include on a vision board?
Numbers, letters, and shapes
Music, videos, and animations
Images, words, and symbols
Fragrances, textures, and tastes
What are some common misconceptions about vision boards?
Vision boards are a form of magic or superstition.
Vision boards guarantee success.
Vision boards work instantly without any effort.
Vision boards are only for materialistic goals.
To make a goal "Measurable," you should:
Set a vague deadline
Ensure the goal is flexible
Focus on the overall outcome
Define clear criteria for tracking progress
How can you determine if a goal is "Achievable"?
By making the goal as challenging as possible.
By ensuring the goal is idealistic.
By setting a goal that stretches your abilities but is possible with effort.
By setting a goal that is easy and quick to accomplish.
Which of the following is an example of a SMART goal that is Measurable and Time-bound?
I plan to save more money over the next couple of years.
I will start saving money by putting $15 from my paycheck in the bank.
I will save $500 per month for the next 12 months.
I want to increase my savings in the next 6 weeks.
Why is it important for a SMART goal to be time-bound?
It eliminates the need for planning and organization.
It creates urgency and accountability.
It ensures that goals are always achievable without deadlines.
It allows for flexibility in changing goals.
The main difference between a resume and a cover letter is:
A resume summarizes your work experience, while a cover letter explains why you are a good fit for the job.
A resume is always handwritten, while a cover letter is typed.
A cover letter lists your job history, while a resume describes your hobbies.
A resume is only used for academic jobs, while a cover letter is used for all jobs.
Relationship-building is essential to career success because:
it helps create valuable professional connections and opportunities.
it guarantees immediate promotions.
it eliminates the need for skill development.
it ensures job security without effort.
Connections with others can increase one’s ability to reach goals by:
providing support and resources
making goals harder to achieve
discouraging collaboration
limiting opportunities
What happens to a student's credit score if they default on a loan, and why might this create challenges for their financial future?
Defaulting on a loan lowers a student's credit score, making it harder to get loans or credit in the future.
Defaulting on a loan increases a student's credit score, making it easier to get loans in the future.
Defaulting on a loan has no effect on a student's credit score or financial future.
Defaulting on a loan guarantees better interest rates for future loans.
Scholarships and grants differ from student loans and work-study programs in which of the following ways?
Scholarships and grants do not require repayment, while student loans must be repaid and work-study involves working for aid.
Scholarships and grants require repayment, while student loans and work-study do not.
Student loans and work-study are only based on academic merit, while scholarships and grants are based on financial need.
Work-study programs provide free money with no work required, unlike scholarships and grants.
What does a positive return on investment (ROI) for higher education mean?
Landing a job after graduation
Getting a scholarship that lowers tuition
Your future earnings are higher than the cost of your education
The costs of college are less than you expected
Which of the following will most likely have the lowest sticker price?
Certificate program
Community college
Public 4-year university
Private 4-year university
Why might graduation rates matter when considering ROI?
Graduation rates measure how many scholarships are awarded.
Graduation rates show how much financial aid is available.
A higher graduation rate means classes are easier.
Taking more than 4 years increases costs, reducing ROI.
Which of the following is not a type of financial aid?
Grants
Student loans
Meal plans
Scholarships
Why should you consider accepting a scholarship or grant first when paying for college?
They reduce costs and do not need to be repaid.
They must be repaid with interest.
They increase your credit score.
They guarantee you will graduate.
What is the purpose of the FAFSA?
To apply for financial aid such as grants, loans, and work-study
To calculate tuition at private colleges only
To pay for textbooks
To compare graduation rates
What is the difference between subsidized and unsubsidized loans?
The government pays interest on subsidized loans while you are in school, but not on unsubsidized loans.
Subsidized loans are only for graduate students.
Subsidized loans do not need to be repaid; unsubsidized loans do.
Subsidized loans are private, and unsubsidized loans are federal.
Which repayment plan is usually best for a new nurse with $50,000 in loans and a low starting salary?
Graduated Repayment
Income-Driven Repayment
Extended Repayment
Standard Repayment
Why might deferment be valuable for someone taking a gap year before medical school?
It cancels interest permanently.
It pauses loan payments until they resume school.
It lowers tuition costs.
It guarantees scholarships.
Real-world scenario: Maria is comparing two colleges. College A has a sticker price of 40,000butoffers 25,000 in aid. College B has a sticker price of 20,000with 5,000 in aid. Which likely has the lower net cost, and why?
College B, because the sticker price is cheaper
Both are the same
College A, because scholarships lower the total cost more
Neither, because aid doesn’t affect cost
Why should loans be the last aid option you accept?
They must be repaid with interest
They don’t count toward tuition
They lower your GPA
They reduce scholarship opportunities
A merit scholarship is usually awarded for:
Living on campus
Enrolling in summer school
Financial need only
Academic or extracurricular achievement
How often must you apply for aid like Pell Grants or student loans?
Once per college career
Only before freshman year
Every year
Every semester
Real-world scenario: A new teacher works in a low-income district and has $25,000 in loans. Which repayment plan may benefit them the most?
Standard Repayment
Graduated Repayment
Extended Repayment
Income-Driven Repayment with forgiveness options
What does COA (Cost of Attendance) include?
Tuition only
Tuition, room & board, books, transportation, fees
Only tuition and housing
Loan repayment costs
What does EFC stand for?
Expected Family Contribution
Estimated Family Cost
Estimated Federal Cost
Education Funding Credit
Real-world scenario: Samantha is offered two loans for $10,000. Loan A has a fixed 5% interest rate, and Loan B has a variable rate starting at 3% but could increase. Which is safer for long-term budgeting?
Both are the same risk
Loan A, because fixed rates don’t change
Loan B, because it starts lower
Loan B, because variable loans are always cheaper
Real-world scenario: David borrows $15,000. Option 1: repay in 10 years with higher monthly payments. Option 2: Repay in 20 years with lower monthly payments. What’s the trade-off?
Both options cost the same over time
Option 2 has higher monthly payments but less total interest paid
Option 1 has higher monthly payments but less total interest paid
Option 1 has lower monthly payments but more interest paid
Scenario – Weighing Freedom vs. Cost: Your cousin has two options: a private city college with a Sticker price of $ 35,000, $ 19,000 in scholarships, $5,000 in loans, and living costs of $ 10,000 per year. Local public university: Sticker price 7,000, $2,000 in scholarships, $3,500 in loans, and commuting from home with minimal living costs. Which factor should carry the most weight in making a financially wise decision?
The number of clubs and sports offered
Lower total debt and living expenses
Which option offers more student loans
Excitement of living in a big city
Scenario – Fast Track to a Career: Your brother wants to become a paralegal. He can complete a 6-week certification program for $1,800 (paid upfront using his savings). Attend a 2-year community college program for $5,000, which may provide higher job placement and salaries. What is the most important factor to compare before deciding?
Long-term earning potential vs. time to start working
Upfront cost only
Which has the better cafeteria
Length of program only
Scenario – Community College Transfer: Carlos spends two years at a community college for $5,000, then transfers to a state university, which costs $10,000 per year for the next two years. His total degree cost is 25,000. If his expected career earnings are $55,000 per year, what does this show about ROI?
ROI cannot be determined
Positive ROI, since his income is much higher than his costs
Negative ROI, because $25,000 is a lot of debt
Negative ROI, since he went to two different schools
The total published cost of attending a college — including tuition, housing, meals, books, and other expenses —before subtracting scholarships or grants, is called the _____
The discounted price
The sticker price
The net price
A full-ride
25. Scholarships, grants, and work-study reduce what you actually have to pay for college. This amount is known as the _____ of your higher education.
Net cost
Sticker price
Sticker shock
Retail price
Which factor should you consider most when comparing student loan offers?
The interest rate and repayment terms
The color of the lender's website
The location of the lender's office
The number of application forms required
(1.5 minutes) Match the following:
money given that does not have to be paid back
Grant
money awarded based on academic and other achievements
Scholarship
money borrowed by the student that must be paid back
Student loan
a way for students to earn money to pay for school by working part-time jobs
Work study
What is Financial Aid?
A type of investment in stocks
Money that is given to pay for students' education
A mandatory fee for all college students
A loan that must be repaid with high interest
What is a potential disadvantage of taking out student loans as Financial Aid?
They provide immediate access to education.
They may lead to long-term debt.
They reduce the cost of education.
They offer flexible repayment options.
