Personal Finance Review 3.01-3.03 Question Preview (ID: 46438)


Review 3.01-3.03 Study Guides. TEACHERS: click here for quick copy question ID numbers.

Lora is a high school computer and technology teacher. She enrolls in a computer class at least twice per year to stay current on recent technology changes and updates. By continuing her education, Lora is investing in her:
a) salary
b) human capital
c) family
d) interest inventory

Miranda is working to develop a broad base of transferable skills. This means that she:
a) needs to maintain at least a part time job during the school year.
b) should use her available hours outside of school for paid employment rather than volunteering.
c) will not have as much time to develop her human capital.
d) will have a set of versatile skills that she can apply to many personal and professional roles.

Individuals with more formal educational training usually have:
a) higher estimated lifetime earnings
b) lower personal satisfaction
c) greater amounts of leisure time
d) more comfortable work environments

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.

One’s lifestyle is to their standard of living as present is to:
a) past.
b) Recent
c) Future
d) Gift

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

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

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

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?
a) The future outlook for physical therapy jobs
b) The amount of money physical therapists earn
c) Common tasks and typical daily activities
d) Opportunities for advancement in the career

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.

In order to make an informed career decision, a high school student will want to:
a) commit to a profession that requires a college degree.
b) choose a career that offers the amount of money desired
c) develop personal goals, complete a career assessment, and research careers.
d) choose a training program that will guarantee employment after the course work is completed.

Which statement would not be true about the value of career research?
a) Everyone values different aspects of an occupation.
b) Current job availability and the outlook for future employment are as essential to consider
c) Opinions from different people working in the occupation should be considered
d) Career exploration allows you to find the one that pays the most so your well-being is enhanced to the highest degree

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
b) Her Her counselor wants Zo wants Zoe to match her skills, abilities, interests and values with a list of specific occupations
c) Her counselor wants Zoe to search for a career that will allow occupational flexibility and provide for possible career advan
d) Her counselor wants Zoe to conduct interviews with people in her area of interest

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 no
c) Charles should have taken a placement test earlier in high school so he could strengthen his academic skills before heading f
d) Remediation courses do not count toward his degree program so he may need to take extra credits and his college degree may ta

Erin has been in college for 2 years and has decided that the major she has been studying is not for her. Changing her major and/or her college could result in:
a) a well-rounded college degree.
b) the need for backward planning
c) losing credits for classes she has already taken
d) remediation courses to make up for the change in majors.

Which statement is true regarding college-level expectations for studying and completing projects?
a) It is best to study alone in a quiet environment
b) Plan backward from major deadlines
c) Multitasking during study time develops the important skill of working while being distracted, so it is okay to message with
d) The busier your schedule gets, the more important it is to write down only the most critical tasks to be done. Wasting time w

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 Copies of his elementary and middle school report cardselementary and middle school report cards

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