9th Grade Career Prep
What is a mutual fund?
A type of investment that invests in a mix of different types of investments
What is the ability to change and be flexible as problems arise and priorities shift?
Adaptability
What is the difference between careers and industries
An industry is a filed or a subject area whereas careers are they type of work that is done by an individual.
For most careers , which degree will most likely result in the highest lifetime earnings?
Bachelor's Degree
_____ are good places to look to find your current expenses when building your budget.
Bank and credit statements
In your budgeting process, when should you look at recurring expenses?
Before reviewing your wants
What are possible red flags or signs of a scam when buying a car?
Being told your financing fell through, Charging of excessive fees
Healthcare, paid time off, disability and matching contributions to a retirement account are all types of _____ available from your employer.
Benefits
Which item is important to consider when selecting a credit card?
Both APR and fees
What is a risk management strategy you could use to protect your home
Buying a home security system, Installing fornt porch cameras to monitoryour home
What are some useful strategies when making an informed purchase?
Calculate the unit price of the product, read the online reviews of the product and ask a trusted friend who use it, and compare your option to similar products.
Unexpected expenses
Can make it hard to stick to your budget, may cause you to be unable to pay necessary bills, should be planned for.
Which forms of payment is linked to a bank account which limits the amount of money you can spend to balance in your account?
Check and debit cards
Which type of bank account typically offers the least (if any) interest?
Checking account
Annual Percentage Rate (APR), credit limit, and penalties and fees are important to consider when_____
Choosing a credit card
what study skill is being used when taking a large project and breaking it down into smaller manageable tasks
Chunking
When you are deciding what to buy, you should....
Compare the unit price of items similar to the one you want
Which payment option could have interest charged to you?
Credit card
Which payment option takes money out of your bank immediately?
Debit Card
When filing an insurance claim, the policyholder must pay a______,which is the amount you owe before insurance will cover the rest of the bill
Deductible
What are some important factors to consider when choosing a path after high school?
Figuring out what you want, Research your options in different schools or training opportunities , Determine if a school or academy offers programs you are interested in
Balancing life in college will require paying attention to which aspects of your life in order to reach long and short term goals?
Finances, social life,academics, and personal life
What is the best example of someone growing their network while in high school
Having regular check ins with teachers and counselors ti discuss goals.
Andrew doesn't want to spend a lot of money on student loans, and does not qualify for grants. What is his best option for affording a Bachelor's Degree?
He can attend the local community college whose courses transfer to the public four year college
What is a reason someone should get health insurance.
Health Insurance protects you financially from medical emergencies
which of the following answers lists 4 year colleges from generally the least expensive to most expensive?
In state public university, out of state public university, private university
What research will help you before you apply for a job
Informational interviews on the position and background research on the company that
What should you do before you withdraw money from the ATM?
Inspect the ATM to make sure it wasn't tampered with
Something people buy to protect themselves from losing a lot of money in the event something happens to them or their property is known as...
Insurance
If you get into a car accident, your____ may increase because you will be considered riskier for insurance companies to cover
Insurance premium
Liability Insurance is....
Insurance that will pay for injury to another driver and/or damage to their car if you are in an accident.
Everyone interested in post secondary education should complete the Free Application for Federal Student Aid (FASFA) because
It allows you to be eligible for fredral student aid and other scholarships and grants
What is best explanation for why organization can lead to academic and career success
It allows you to locate materials , be aware of your assignments and plan time to get things done
What is the benefit of collaboration and teamwork?
It expands your social network and creates new connections
Prioritization is an example of a skill that helps you reach long term goals because why
It focuses om the most important tasks first, which leads to accomplishment long term goals
A 529 plan can help you save more money than a traditional savings account because...
It is tax free
What fact supports the idea that renting is a good option for living in a place for a short period time?
Landlords take care of most maintenance
What items are part of a college application?
Letter of Reference, Personal essay and high school grades, Application form and any fees
Investing is best for
Long-Term financial goals
Which example shows advantages of owning a car over leasing one?
No restrictions on the number of miles to drive and the ability to customize, or make changes to the car
What example shows an advantage of owning a car over leasing one?
No restrictions on the number of miles to drive one the ability to customize the car
Benefits to paying the full balance of your credit card each month include
Not having late fees
How can a professional association help reach your career goals
Professional associations will host networking events and connect you to people in the careers and industries you are interested in
what can help to reduce the damage that a conflict can cause on a project or on a team?
Relationship building , Open communication, Seeking a Win/win a solution
Wearing a seat belt, not texting when driving, and driving carefully are all examples of... ,
Risk management strategies
What do taxes pay for?
Schools, government departments, roads, and emergency Services.
What is one of the best ways to get reliable information about a product?
Search online reviews
What is an example of a college student practicing effective problem solving techniques?
Seeking out academic support at the student center before a report is due
What is the relationship between short term and long term goals
Setting short term goals now helps reach long term goals
What should you list when filling out a college application?
Sports, Community service, Part-time job
What are some ways to track your spending
Spreadsheet budget, envelope method, apps
What is the W-4 tax form used for?
Tell your employer of how much federal income tax to withhold from your paychecks
How is a post from a social media influencer different than a comment from a regular consumer?
The Influencer is paid to post the product
How is an advertisement different from a comment from a regular consumer?
The advertisement is likely one-sided
what has the biggest impact on whether a 4 year university is affordable?
The amount of financial aid that the university offers
What is net pay?
The amount of money you are paid after all taxes and deductions are taken out of your paycheck.
Which of the following is true about the Free Application for Federal Student Aid (FAFSA)
The earliest you can submit your FASFA is October 1st of each year, the form is available online or on paper, states may have different deadlines for applying for state aid
A pack of 24 pencils is more expensive than 12 pencils, but why could buying the 24 pack be the better deal?
The price of each pencil , or the unit price, is actually cheaper in the 24 pack.
Dimitri's counselor told him that post secondary education can be expensive but can pay off in the long run, what does that mean?r
The salary you will earn with a degree will pay back the cost of college over your career
How is having a security system for your home a risk management strategy
The security system will alert authorities and deter criminals, protecting your valuables and property
What is the best reason for why someone would want to lease a house instead of buying one?
They are planning on living there for a short time.
How can body language, tone of voice and eye contact improve your ability to secure a job during an interview
They can communicate a positive energy which can mean more interest and enthusiasm for the job
How should resumes and cover letters be written to help you obtain a job that meets your career goals?
They should list your accomplishments and how your skills meet the needs of the job
secured loans are less costly than unsecured loans because ___
They usually have a lower interest rate, they require collateral, they are less risky for the financial institution
Your employer sends you a ______ form that tells you how much you've made and how much you've paid in taxes in the last year.
W-2
What do you need in order to fill out your 1040?
W-2, routing and bank account numbers, a record of any other supplemental income
What is the benefit of having a good credit score?
When you need a loan, you will have more loan offers to pick from
What options are available if you are behind on loan payments
a financial institution may offer for you to pay a little now and pay the rest after your next pay day, you can borrow money from friends and family. Your financial institution might allow you to deter the loan but you'll have to pay the interest
Which financial institution typically has the highest fees?
check cashing and payday loan companies
Preparing to pay for higher education can start in 9th grade or earlier by..
opening a 529 plan
What are some common features of a financial institution ?
paper checks, access to ATMs, direct deposit
What is a positive reason for using a credit card to finance purchases
paying it off on time can help your credit history
Paying only the minimum balance on your credit card can lead to
paying more interest
Recommended methods to protect yourself from identity theft and fraud include
placing a credit freeze with the credit bureaus
What isthe difference between a salary and an hourly wage
A salary is paid no matter how many hours you work whereas an hourly wage is paid only for the time on your job
What is a stock?
A share of ownership in a company
How can managing a job your personal life help reach your goals?
Eating right, exercising, and getting enough sleep can reduce stress and help you study
what type of federal funding is free money, but is based on financial need only?
Federal Grants
What are some examples of tax or deductions that could show up on your paycheck?
Federal Income Tax, Contributions to retirement savings, FICA
What are some benefits of using a budget?
Helps to keep track of the money you receive, helps to prioritize your spending , help reach short and long term financial goals
To maintain a good credit score you must
Manage your debt wisely
Maria is a high school senior. She wants to go to the local community college and become a nurse. Her grades are average, but she comes from a low income family. What could she do in order to afford the next step in her dream to become a nurse?
Maria could apply for federal grants to help pay for college and Maria can apply for need based scholarships
Which savings account will earn you the least money?
One the earns simple interest monthly
What is the ability to find solutions and be creative when overcoming challenges
Problem Solving
When faced with needing additional money during college, what options could happen?
Taking on a job can cut into study time, Paying with credit cards can end up costing more money, Taking on a job can make connections that lead to opportunities
Charitable donations, entertainment expenses, and financial goals are all examples of ______.
Things to consider when creating a budget
Why is it important to reconcile your bank statements?
To avoid spending more than what is in your account, to detect any errors in your account, to determine if you were charged any fees
Why should you purchase insurance ?
To prevent financial burden in the case of an accident, theft, or another event
When are loans a good option to use?
When paying for higher education
As you apply to college, when should you apply for financial aid?
When you apply to the college
What is a consequence of not having health insurance
You must pay all costs for Healthcare and medical emergencies
textbooks, transportation and room and board are all...
additional costs for attending a college or university
Credit cards can help _____________ when paid off on time regularly.
build credit history
What would best describe the purpose of an emergency fund?
prepares you for unexpected expenses, keeps you from borrowing money from friends and family, worry about expenses not in the budget
How can you ensure you don't go over your budget?
round up our expense estimates to add a buffer
Learning design software, applying to college , and creating a website to showcase work are examples of _____ that lead to a career as a graphic artist s
short term goals
