Business Midterm Exam 2021

Which is an example of a graduated repayment plan for student loans?

Payments start lower and increase every 2 years

Opportunities to reduce or wipe away part of a loan amount based on your public service or by being a teacher in a low income public school are called_____.

forgiveness programs

What might be a phishing message?

An email with a link to re-set your password

How can you create a healthy balance between online and offline time?

Turn off notifications on your phone

The biggest difference between scholarships and loans is that scholarships are considered _____ but loans must be paid back.

free money

The _____ shows how long the average student takes to earn a degree and this can be helpful in determining the return on investment at different institutions.

graduation rate

A positive return on investment for higher education _____.

is when your earnings potential is higher than the cost of your education

Taking care of your _____ first is a good budgeting strategy that includes covering your loan payments.

needs

Federal loans are from _____________.

the government

What is considered by the federal government to be what your family will be able to pay per year toward your school expenses?

Expected Family Contribution (EFC)

Background check, is the practice of researching a job applicant's profiles and activities on social networking platforms such as Twitter, Facebook, Instagram, WhatsApp, and elsewhere. The intent is to learn more about the applicant's background and determine whether there is anything the company should be aware of before offering a job.

False

Private student loans are from _____.

financial institutions like banks and credit unions

___________ are professionals who specialize in finding the best hires for a particular job. Contacting one these professionals is one way to find and apply for a job.

headhunters

What are signs something is sponsored content?

It says "sponsored content" or "ad" somewhere

When is it okay to share your password with a friend?

It's never safe to share your password

Which of the following ARE examples of how you can reduce the full cost of higher education?

Live in shared housing to share costs; cook your own meals instead of using a meal plan

Which method of funding higher education accrues interest until it is paid back?

Loans

What's a possible sign of malware?

Lots of popups and being redirected in search engines

You have chosen to do a written event competition in International Business through DECA. This means you will research and write a paper, include illustrations such as tables and charts, and discuss your paper in front of a judge. Which Microsoft Office application is best for your chosen task?

Microsoft Word

In the video How the US workforce is changing, which generation did they use as a case study or point of discussion?

Millennials

Jeremiah works at a pet store. He went to a community college but didn't finish. He has some student loans now. What kind of return on investment (ROI) does Jeremiah demonstrate?

Negative ROI

What are two ways that can help you keep a budget while trying to reduce debt load from loans?

Tracking expenses and evaluating spending

A paper portfolio should have a table of contents to find items quickly.

True

A portfolio provides evidence of work that you've done.

True

Credit checks is a necessary step in the hiring process. It is a big picture snapshot of how a potential candidate handles their responsibilities.

True

What's a good way to keep personal information private online?

Turn off location tracking on all apps

Which type of loan has a higher borrowing limit, a subsidized or unsubsidized loan?

Unsubsidized loans

If a movie, song, or book is offered for free, is it malware?

Usually

A portfolio _____ your skills and abilities

illustrates

A portfolio ____ the quality of your work

shows

The full cost of attendance to an institute of higher education, including tuition, room and board, books and other costs is known as ____________.

sticker price

To access need-based federal aid, including federal loans you will need to submit _____.

the FAFSA

Microsoft _________ is a slide presentation program.

PowerPoint

Which institution will most likely have the lowest sticker price?

A certificate program

What is a "digital footprint"?

A collection of data from someone's online activity that can be traced back to them

What makes a good password?

A mix of letters, numbers, and symbols you'll remember

What are the additional costs you pay each year in order to borrow money in loans? This includes both interest and fees.

Annual percentage rate (APR)

If a friend posts something online that hurts your feelings, what should you do?

Ask to talk to them in person

Which of the following is NOT an example of how you can reduce the full cost of higher education?

Buy all books at the bookstore as early as possible.

What's a FALSE statement about online time?

Checking social media a lot is connected to more happiness

Observing rules of "netiquette" that promote courtesy and respect in online settings.

Civility

Which of the following is the correct step to save a Word document for the first time.

Click on the File tab, then choose Save As

Protecting data and information we're not authorized to share.

Confidentiality

What are you calculating if you add together an estimate of tuition, fees, room and board, books, supplies and other higher education expenses?

Cost of Attendance (COA)

What do you need to consider to decide if you can afford to go to an institute of higher education?

Cost of Attendance (COA) and financial aid

Recognizing and respecting the legal claims of others to online data, creative works, and other digital assets.

Digital Property Rights

How can you help your offline friendships?

Don't look at your phone when talking with your friends

If someone you don't know asks where you go to school, what should you do?

Don't respond

How often do you need to apply for a federal student loan?

Every year

Companies are going away from using resume-filtering software to screen applicants as it cost money to pay for them.

False

Which tab, in Microsoft Word, will you select to save a new document?

File

What is a NEGATIVE part of being in an online community?

Having anything you post be permanent

Who is most likely to have general information about financial aid at many different institutes of higher education?

High school counselor

Respecting and honoring the inherent worth and right to privacy of other people.

Human Dignity

What's a sign you should talk to an adult about your online time?

If you always feel anxious about what you're missing online

When should you talk to an adult you trust?

If you see yourself tagged online and you don't want to be or if someone asks you for personal information

Which tab, in Microsoft Word, will you select to add an image or picture to a document.

Insert

What's true about freedom of expression?

It allows you to express your ideas and opinions

What's TRUE about spending a lot of time online?

It can hurt your mental health and friendships

How can you make sure a picture won't be shared publicly online?

Only share it in person

Which is an example of an income-driven repayment plan for student loans?

Payment amounts are based on a percentage of what you earn.

Luis repairs air conditioners. He earned a certificate in 6 months and paid for it with one loan. He earns a good salary now and will pay off his loan in two years.What kind of return on investment (ROI) does Luis demonstrate?

Positive ROI

If you're unsure if something is true, what should you do?

Research the information

Which of the following are considered "free money" when it comes to financing higher education?

Scholarships and grants

If someone you don't know gives you feedback on your online creation, what should you do?

See what you think about their feedback

Which is a copyright violation?

Sharing a copyrighted image on social media; downloading a copyrighted movie without permission

What is curated content?

Something you didn't create, but are sharing

Can you get accurate information from social media?

Sometimes

How can you avoid "emotional contagion"?

Spend time away from social media and turn off notifications on your phone

What is a sign that information is accurate?

Statistics are included and research is referenced

Which type of loan is based on financial need?

Subsidized loans

What is a sign that content is biased?

The author makes money in a connected area

What is "social comparison"?

When you compare your life to others' social media posts and feel like your life is worse

If something is copyrighted, how can it be used?

With permission or in certain "fair use" cases

Microsoft _______ is a word processing software developed by Microsoft.

Word

When you sign up for an app or social media account, are you letting thecompany use your information?

Yes

What can happen if you default on a student loan?

You may be taken to court and have to pay all fees; you may have money taken directly out of your paycheck to cover your debt

One consequence for defaulting on a student loan is loan acceleration. What does this mean?

You owe the amount of your loan and interest immediately

Which of the following is not true if you default on a student loan?

You will have your degree taken away

A ______________ is a document sent with your resume to provide additional information on your skills and experience.

cover letter

When creating a budget to repay your student loans, you should plan to pay back _____.

interest and principal

Higher education typically has a positive return on investment because _____.

jobs and careers that require a degree or certificate generally earn higher salaries

Scholarships, grants and work-study money all reduce the _____ of higher

net cost

A _____ can help you estimate how much money you might get in scholarships and grants at a given institution of higher education

net price calculator

Financial aid letters show your aid and costs of attendance for _____.

one year

Which of these is NOT an online portfolio.

physical binder

A collection of work samples that you can bring to an interview, send to a prospective employer, or even post online.

portfolio

A(an) __________ is a person (not related to you by blood or marriage) who is willing to talk to potential employers about your job skills, abilities, background, and general character—hopefully in a positive light.

reference

A list of three references provided with a job application.

references page

The purpose of a ______ is to provide a summary of your skills, abilities and accomplishments.

resume

Researching the average earnings by major and by career can help you determine the _____ of an institute of higher education.

return on investment

Which is the best way to communicate with your teacher about your grades in class?

through a professionally written email

The sticker price of an institute of higher education includes _____.

tuition, housing, food, books and other costs