Chapter 2- Finances & Career Planning

Question 0

Career

Answer 0

A commitment to work in the field that you find interesting and fulfilling – meeting your personal and financial goals – usually long-term

Question 1

Job

Answer 1

Work you do to earn money – usually short term

Example high school career, part-time

Question 2

Standard of living

Answer 2

A measure of quality-of-life based on the amounts and kinds of goods and services a person can buy

Question 3

Potential earning power

Answer 3

• Your earning potential overtime

- more knowledge/education usually increases earning power

Question 4

Ingredients for success on the job:

Answer 4

– Try to be an asset to the company
 – work well with others 
– strive to do best 
– quality of work is a high priority 
– communicate well

Question 5

Aptitude

Answer 5

Natural talent

Question 6

Five common aptitudes

Answer 6

One: verbal (example: author)
Two: Numerical (example: accountant)
Three: spatial (example: graphic designer)
Four: manual dexterity (example construction)
Five: physical coordination (example: athlete)

Question 7

Interest inventories

Answer 7

• Tests that help you identify activities you like doing best
• Matches interests, likes, and dislikes with various kinds of work
• They only point to you in a direction

Question 8

Personality types

Answer 8

– Realists 
– investigative 
– creative
 – social 
– enterprising

Question 9

Six stages of career planning

Answer 9

One: research and assess
Two: identify job opportunities
Three: develop a resume and cover letter
Four: interview
Five: consider job offers
Six: plan and implement

Question 10

Demographic trend

Answer 10

tendencies of moving people from one part of the country to another

Question 11

Two recent trends in industry and technology

Answer 11

One: increased global competition – decrease in demand for American made products equals higher unemployment

Two: automation

Question 12

Service industry

Answer 12

-Businesses that offer service for a fee
-Will offer employment opportunities in the future
-sometimes paying more than manufacturing
Industries include: healthcare, business services, social services, hospitality, education, financial, computer and or telecommunications

Question 13

Four kinds of work related training

Answer 13

One: part-time
Two: Volunteer
Three: internships or Cooperative education
Four: class projects or afterschool activities

Question 14

Internship

Answer 14

• receive training from experienced workers in a particular field
• sometimes lead to a permanent employment

Question 15

Cooperative education

Answer 15

Combination of classroom and work experience related to your interests

Question 16

Networking

Answer 16

Way of making and using context to get a job information and advice

Question 17

Types of resumes

Answer 17

Chronological: outline format from year to year (most recent first)

Skills: usually best for recent graduates – highlights your skills and abilities first

Question 18

Cover letter

Answer 18

Personal letter to a potential employer

Question 19

Interview

Answer 19

Formal meeting with potential employer

Question 20

Factors most important when considering a job offer

Answer 20

– Work environment
-Salary factors
– Employee benefits

Question 21

Cafeteria style employee benefits

Answer 21

Programs that allow workers to choose benefits the best meet their personal needs

Question 22

Pension plan

Answer 22

Retirement plan that is funded at least in part by an employer

Question 23

401(k)

Answer 23

Set aside a portion of your paycheck to this fund and your employer may match a percentage of your contribution

Question 24

Mentor

Answer 24

Experienced employee who serves as a teacher and counselor for those with less experience