Chapter 1 Study Guide

A business plan generally projects financial data three to five years into the future. a. True b. False

a. True

A small business owned by a person who also works full-time for an employer is a a. side business b. venture business c. lifestyle business d. start-up business

a. side business

"Plan B" is the label used to describe what you would do if your job ended and might include a. getting a part-time job. b. developing networking contacts. c. learning new skills. d. all of the above.

d. all of the above.

A customer loyalty program is an example of how companies use data mining. a. True b. False

a. True

A self-assessment inventory lists both strengths and weaknesses along with plans for improvement. a. True b. False

a. True

Checking your credit report frequently can help with early detection of identify theft. a. True b. False

a. True

Follow-up contact with a prospective employer after a job interview may be in the form of a thank-you letter or email. a. True b. False

a. True

Information placed and stored on social media sites is gathered, packaged, and sold to interested third parties. a. True b. False

a. True

Lifelong learning involves actively seeking new knowledge, skills, and experiences that will enhance professional and personal growth throughout your life. a. True b. False

a. True

The knowledge and skills acquired from working in a career field provide a person with a. experience. b. higher wages. c. seniority for promotion purposes. d. better health insurance.

a. experience.

All of the following information would be appropriate for inclusion in a resume except a. personal information, including age, gender, and marital status. b. educational background, including high school and post-high school institutions attended. c. work experience, including both paid and unpaid jobs. d. additional qualifications or skills, such as proficiency with particular types of software or the ability to speak a foreign language.

a. personal information, including age, gender, and marital status.

A resume should be as broad or "generic" as possible to fit many possible job opportunities. a. True b. False

b. False

If goals are to be meaningful, they should be broadly stated and without specified time frames for their achievement. a. True b. False

b. False

It is never acceptable to use the salutation "To Whom It May Concern" in a reference letter. a. True b. False

b. False

Privacy laws in America are designed to effectively safeguard the privacy of information posted on the Internet. a. True b. False

b. False

Retail businesses have a legitimate need for a customer's Social Security number when the customer pays with a debit card or cash. a. True b. False

b. False

Self-employment is an option almost everyone should consider, because it lowers the risk of becoming unemployed. a. True b. False

b. False

Service jobs are a small and declining sector of the current American job market. a. True b. False

b. False

Today, most companies publish their job openings through employment agencies and newspapers. a. True b. False

b. False

People who provide information about a job applicant's skills, character, and achievements are known as a. career coaches. b. references. c. resources. d. all of the above.

b. references.

Attaining a higher skill level to increase your usefulness to your employer is called a. retraining. b. upgrading. c. promotion. d. lifelong learning.

b. upgrading.

Management of data storage and retrieval is known as a. data processing. b. web mining. c. data warehousing. d. data back-up.

c. data warehousing.

Generally, all of the following characteristics are associated with successful entrepreneurs except a. being self-motivated. b. having a friendly disposition. c. holding a master's degree in business. d. being trustworthy.

c. holding a master's degree in business.

Goals that a person anticipates achieving within a few months or years are classified as a. short-term goals. b. primary goals. c. intermediate goals. d. secondary goals.

c. intermediate goals.

Effectively preparing for a job interview would include a. reviewing your resume. b. preparing a list of likely questions. c. learning about your prospective employer. d. all of the above.

d. all of the above.