Final Review 5/26 Flashcards
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.
A
Carson’s family has always struggled financially due to his parents leaving high school before graduating and working lower paying jobs to support the family. His parents do not want him to make the same mistake and are encouraging him to apply for scholarships and any type of student aid he might qualify for. Which application will determine which type of need-based aid he will qualify for?
A
Perkins Federal Loan Application
B
Direct Subsidized Stafford Loan Application
C
Federal Work Study Application
D
Free Application for Federal Student Aid (FAFSA)
D
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?
A
Her counselor wants Zoe to find a career that will provide a high level of income to support Zoe’s lifestyle and well-being.
B
Her counselor wants Zoe to match her skills, abilities, interests and values with a list of specific occupations.
C
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.
D
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
B
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?
A
Copies of awards and achievements he earns
B
A list of all the extracurricular activities he gets involved in
C
A resume of all community service and volunteer work he is actively involved in
D
Copies of his elementary and middle school report card
D
The regular schedule that employers use to pay their employees is called the:
A
worker’s compensation.
B
pay period.
C
employee benefits.
D
employer contributions.
B
Which statement is not true?
A
Most people have several careers throughout their lifetime.
B
Jobs are paid positions.
C
People can develop human capital in a variety of ways.
D
Transferable skills can be applied to many personal and professional roles.
A
Jaimen is struggling to make his student loan payments after college. He is considering defaulting on the student loan. Which is not a potential consequence if he decides to default on the student loan?
A
He could be denied credit cards, car or home loans, or apartment leases.
B
The bank could refuse to allow him to open a checking account.
C
He may not be able to obtain a marriage license.
D
His wages may be garnished
D
When Charles received his college placement test results, he is informed that he will need remediation in math. Which situation is not true of Charles’ situation?
A
Charles will need to take at least one course because he is not college-ready.
B
Since the remedial courses Charles must take will not count toward his degree, he needs to take the courses but tuition is not charged.
C
Charles should have taken a placement test earlier in high school so he could strengthen his academic skills before heading for college.
D
Remediation courses do not count toward his degree program so he may need to take extra credits and his college degree may take longer to complete
D
Career assessments help to identify:
A
the job an 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
d
Shannon is reviewing her pay stub to determine how much money she earned before her deductions were subtracted. Which column should she check to find this amount?
A
Net Income
B
Hours and Earnings
C
Employer Contributions
D
Gross Incom
d
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 net pay on his paycheck?
A
$501.66
B
$363.32
C
$576.92
D
$640.00
a
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?
A
What kind of training and education do I need and how much will it cost?
B
Is there a career pathway available if I continue my education and training?
C
Can I get the education and training I need near where I currently live?
D
Will a job be available and will I earn enough in my career to pay for the education and training it requires?
c
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?
A
Completing your college degree is the best way to prepare for a career.
B
Education pays in higher earnings and lower unemployment rates.
C
Human capital and transferable skills result from formal training.
D
Investing in yourself too early can lead to a lower standard of living.
b
Jose has been challenged by his academic advisor to develop some human capital this school year. Which activity would be the least effective way to reach that goal?
A
Spend additional time playing video games to further develop his eye-hand coordination.
B
Volunteer to pick up trash along the roadsides.
C
Attend a workshop on a topic he has little knowledge of.
D
Ask his employer if there are any new tasks at work that he might be assigned
A
Hunter has been offered a job by a local mechanic who has offered to pay him in cash rather than by paper paycheck, direct deposit, or payroll card. Hunter is excited that the amount of money he will take home each week will be larger since his employer will not be deducting any taxes from it. His employer wants to hire him for the 10 weeks of his summer break and expects to pay him $300 per week. Which statement is most likely to be true?
A
Hunter will not need to pay taxes on the income from his summer job because the total amount he will earn is under the amount required for federal tax deductions.
B
It is illegal for Hunter to receive payment for his work in cash. He could be fined for doing so.
C
Hunter will need to pay his federal and state taxes on his own, since his employer is not paying these required taxes for him.
D
Hunter’s employer is doing him a favor by offering to pay him in cash. Hunter will potentially earn more by this method of payment
d
