Career Prep Exam

It is tax free

A 529 plan can help you save more money than a traditional savings account because ______________.

Stock

A ______________ is a share of ownership in a company.

Artificial Intelligence

A computer program or app that can preform tasks that usually require human intelligence

AI Chatbot

A computer program or app that uses AI technology to understand and respond to what you say in real time

The policy holder

A deductible is paid by __________.

Terms of Service

A legal document that an app or website must provide which describes the rules that the company and users must obey when they use the app

Privacy Policy

A legal document that an app or website must provide which describes what user information they collect and how they use it

The unit price is lower.

A pack of 24 pencils is more expensive than 12 pencils, but why could buying the 24 pack be the better deal?

Facial Recognition

A type of AI technology that can use a digital image of a face to identify a person

Generative AI

A type of AI that can create content, including text, images, and audio

Recommendation Algorithm

A type of AI that decides what content to show or curate for someone

Emergency Fund

A(n) _______________ helps you prepare for unexpected expenses

Credit card

APR and fees are important to consider when selecting a _____________.

Mutual Fund

A____________ is a type of investment that invests in a mix of different types of investments

Digital Footprint

All of the information online about a person either posted by that person or others, intentionally or unintentionally

The policy holder

An insurance premium is paid by _____________.

FAFSA

Anyone interested in post-secondary education should complete the ____________ because it allows you too be eligible for federal student aid and other scholarships and grants.

Privacy Settings

Choices a website or app provides to users about what information is collected and visible to others

Build credit history

Credit cards can help __________ when payed off on time regularly.

More likely to earn more money in your lifetime.

Earning a degree can be expensive, but why might it be worth the expense?

Addictive Design

Features or aspects of a device or app that are intended to hook the user into frequent use

Humane Design

Features or aspects of a device or app that prioritizes what's good for people's lives

Education

Generally, the more _____________ you receive, the higher your lifetime earnings will be.

Benefits

Healthcare, paid time off, disability insurance, and matching contributions to a retirement account are all types of ____________ available from your employer.

Taxes

How does the government pay for roads, schools, and emergency services.

A social media influencer is getting paid to promote the product, while a regular consumer is not.

How is a post from a social media influencer different from a comment from a regular consumer?

An advertisement is posted by the creator of the product and might be biased.

How is an advertisement different from a comment from a regular consumer?

Your financial institution

If there is a mistake with one of your bank accounts, who should you contact to resolve the issue?

Collision insurance

Insurance that covers damage to your car from an accident is called___________.

Liability insurance

Insurance that will pay for injury to another driver and/or damage to their car if you are in an accident is called ____________.

Room and board

Living at home could save you money while enrolled in post-secondary school or training because it reduces cost of ____________.

Health Insurance

Paying all costs for health care and medical emergencies is a consequence of not having ____________.

Paying more interest

Paying only the minimum balance on your credit card can lead to _____________.

Each state

Preparing taxes may be different for people living in different states because everyone must file federal taxes, but _______________ has different tax laws.

Privacy

Protection from being observed or tracked by others, including the government, companies, the public, individuals, or groups

Oversharing

Sharing personal feelings, information, or experiences that later makes someone feel uncomfortable or regretful

Cookies

Small text files stored on a computer that keep track of what a person does on a website

Insurance

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 ____________.

Habit

Something we do automatically without thinking

W2

The ______ form is a form that tells you how much taxes you've paid in the last year based on how much you've earned.

Insurance Premuim

The amount of money you pay for an insurance policy is known as ___________.

Net pay

The amount of money you're paid, after all taxes and deductions are taken out of your paycheck is called ______________.

Insurance deductible

The amount you owe before insurance will cover the rest of the bill is known as ___________.

Tracking spending

The envelope method, notebook and pencil, and online software are all methods of _______________

Training Data

The information given to an AI to help it learn how to do specific tasks

Testing Data

The information used to check whether the AI that was created is reliable and accurate

Unit Price

The price of a single item within a group of items is known as the ___________ of the item.

Manage debt wisely

To maintain a good credit score you must __________.

Housing, transportation, books

What are some examples of additional costs for attending a college or university?

More loan offers

What is the benefit of having a good credit score?

AI Bias

When an AI tool makes a decision that is wrong or problematic because it learned from training data that didn't treat all people, places, and things accurately

Feedback Loop

When you get a response to something you do or post online, causing your brain to experience a temporary moment of pleasure

W4

When you start a new job, you will fill out a _________ form to determine how mouth federal income tax your employer should withhold from your paychecks.

Bank account, credit card satements

Where should you look to find your current expenses when building your budget?

Checks and debit cards

Which forms of payment are linked to a bank account which limits the amount of money you can spend to balance in your account?

A credit card

Which method of payment is actually a form of borrowing money that needs to be paid back later?

• repair a broken laptop used for school**** • buy new shoes because they are in style • purchase concert tickets to see your favorite artist perform • upgrade your phone to the latest model

Which of the following expenses would be a good reason to spend money from an emergency fund?

Needs, wants, and savings

Which three things should be considered when setting a budget?

Checking Account

Which type of bank account is best for everyday transactions?

Checking Account

Which type of bank account typically offers the least (if any) interest?

Check cashing or payday loan places

Which type of financial institution typically has the highest fees?

They repot income which needs to be used to file taxes.

Why is it necessary to have a W2 or a 1099 form when using tax preparation software?

Health insurance

You should always have ___________, regardless of your circumstances.

Savings Account

_____________ is best for long-term financial goals, like paying for retirement.

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