finance module 3

a valuable employee benefit

An employer sponsored retirement savings plan is...

child care, retirement plan

2 employee benefits other than PTO

utilities, travel time/cost

2 factors when comparing cost of living

cost of transportation, average salary

2 other factors to consider when deciding where to live and work

get a job, apply for scholarships, grants, work study programs, etc.

2 ways to cover college/training other than loans

$406.10

After 3 months on the job, Luiz received a 50 cent raise and now has insurance benefits. He worked 35 hours one week and 42 hours the second week of the recent pay period. His deductions totaled $217.90. What is his net pay?

high-paying

Ben really enjoys outdoor activities. When he isn't working, he's biking, hiking, sailing, or training to run marathons. Which of the following criteria would Ben think is the least important as he decides on a career to support his lifestyle?

$26,480

During her first year on the job, Monique earned a $22,880 annual salary ($11/hr). She started the job with paid leave for 5 vacation days and 5 sick days. Plus her employer pays the $300 monthly premium for health insurance. What is her total annual compensation

All of the above

Janelle is applying to work a full-time job next summer. She's only done babysitting and is worried she lacks skill and experience to work at local businesses. What should Janelle tell an employer who asks about her work experience?

an advertising assistant for the local newspaper: min. wage job that requires proofreading and setting up ads in the weekly newspaper

Janelle is considering a future career in graphic design. Which one of these summer jobs have the most potential to help Janelle jumpstart her career?

$525.00

Luiz has worked 35 hours each of the past two weeks. If he earns $7.50 an hour and is paid every two weeks, what is his gross pay for the last two-week pay period?

false

Martin does not have to pay income taxes on the cash tips he received while working his shift at the car wash

dental assistant

Of the following types of jobs, which would be the best option to support the hobby of Allison, who performs in a band for area festivals, dances, and receptions?

true

One of the single greatest assets an individual has is earning power

false

The #1 reason why students drop out of higher education programs is because they can't keep up with the coursework when they car working or have a family

Reduce income by cutting back on work hours to have time to attend classes at the local community college

Which is an example of an opportunity cost related to earning potential?

your job choice

Which of the following is a major factor in helping you achieve your financial goals?

Frequently changing jobs with different employers to learn new skills and gain experience

Which of the following strategies has the most potential to prevent you from boosting your earning potential?

able to make own business decisions regarding what services of products to sell

Why would someone want to start his or her own business rather than work for someone else?

false

You can expect to receive the same employee benefits wherever you work full-time

scholarship

a payment made for academic achievement.

bonus

an amount paid by employers in recognition of exceptional work

apprenticeship

an opportunity to combine on-the-job training with class instruction

loan deferment

delay making payments on borrowed money

commission

pay is based on a % of the cost of items or services sold

gross pay

the total amount you earn during a pay period