PFI 4101- Unit 2 Participation Questions

Which of the following is an example of an employer-sponsored retirement account?

401K

Before negotiating your compensation you should consider

All of the answers

Tax advantages were created to encourage certain financial goals. Which of the following allow(s) us to benefit from tax advantages?

All of the choices

All of the following are examples of nonsalary benefits EXCEPT

Comission

Before negotiating a job offer you should consider all of the following EXCEPT

Comparing your offer to the salary of other employees with more experience/education

Employer, government, and individual retirement plans are essentially the same.

False

If the potential employer tells you that salary is non-negotiable, then the negotiation process is over and you need to either accept or decline their offer.

False

It is most often suggested that you should bring up salary and compensation in the first interview as it is the most important aspect in evaluating a job offer.

False

While employee benefits are very important, they should not be a factor when considering job options.

False

Flextime, or flexible work hours, is an example of a _____ benefit.

Soft

Which of the following best describe(s) the benefits of working for a large firm when compared with a small firm

There is a greater variety of training programs and career paths

A job offer includes information on the benefits, the compensation, and the opportunities for advancement.

True

If the benefits package isn't what you expected, you should consider negotiating a higher salary with your future employer.

True

Knowing how to ask questions about compensation in an interview is one of the most important skills in job seeking.

True

Knowing how to conduct yourself in an interview is one of the most important skills in job seeking.

True

Professional tax preparers may be lawyers, accountants, personal financial planners, or tax consultants.

True

Salary, geographic location, and retirement package are all important factors to consider when comparing job offers.

True

The first interview is one of the worst times to ask about compensation.

True

When evaluating the health insurance offered by an employer some important factors to consider include: Deductible, coinsurance, premiums, and out of pocket maximum.

True

Private health care financing that is funded by employers is called a

health reimbursement account (HRA)