Personal finance 1-3

The first step of the career planning process is to:

Assess your interests, abilities, and goals

A ____________ Resume presents a persons education, work experience, and other information in a reverse time sequence

Chronological

A cash flow statement reports a persons or a families

Current income and payments

When an individual makes a purchase without considering the financial consequences of that purchase, they are ignoring the aspect of financial planning

Spending

Opportunity cost refers to:

What a person gives up by making a choice

If family with 45,000 in assets and 22,000 of liabilities has a net worth of

23,000

During the past month Jennifer had income of $3000 and had a decrease in net worth of 200 this means Jennifer's payments for the next month work

3200

Within inflation rate of 9% prices with double in about ________years

8

____________ is an opportunity to contact several firms in a short time span. It often held at local universities or convention centers.

A career fair

Which of the following would be considered a long-term liability

A mortgage 15 to 30 years

Brad Cooper has a goal of "saving $50 a month for vacation" brands goal lacks:

A time Frame

The stages than individual goes through based on age, financial needs, and family situation is called the:

Adult life cycle

Ben needs to pay off some of his that's over the next few months. Which item on his balance she would help him decide what amounts are due in the near future

Current liabilities

Money management refers to:

Day to day financial activities

Liabilities are amounts representing

Debts

Compared to a job, a career:

Demands regular updating of knowledge

Austin has written his resume and it checked by his career placement center for errors. He plans on sending it to three companies he has identified as having job openings. Which step in the career planning process is Austin completing?

Develop a resume and cover letter to apply for specific positions

Lynn knows that if she continues to work full time, it will be difficult for her to get time off she needs to be able to travel around the world. However, if she continues to work full time she will more easily earn the money she needs to take her trip and still save money left for her living expenses after she gets back from her trip. Which step in the financial planning process does this scenario demonstrate?

Evaluating her alternatives

A formalized report that summarizes your current financial situation, analyzes your financial needs, and recommends a direction for your financial activities is a:

Financial plan

A home file should be used for:

Financial records for current needs

A person has worked in many fields and has a variety of skills and category such as communications, research, and personal administration would probably be best served with the use of a ________ resume

Functional

The purpose of an informational interview is to:

Gather information for career planning

An individual retirement account is example of a blank asset

Investment

The ability to convert financial resources into usable cash with these is referred to as:

Liquidity

As Jean Tyler plans to set aside funds for her young child's college education, she is setting a:

Long-term goal

The main responsibility of the federal reserve system is to:

Maintain an adequate supply of money

_____________ is the process of making and using contacts in the business world for obtaining in updating career information and job possibilities

Networking

Tom recently coordinated a fund raising project for an organization that assists homeless youth. This is most likely be an example of experience in

Obtaining financial planning and budgeting skills

For an entry-level position, a person resume is likely to be

One page

The final step of career planning process is to:

Plan for career development

The purpose of a selection interview is to:

Question candidates for a job in detail

The purpose of a screening interview is to:

Reduce the number of applicants for a job

The financial planning process concludes with efforts to:

Review and revise your actions

The uncertainty associated with decision-making is referred to as:

Risk

Which of the following financial documents would most likely be stored in a safe deposit box

Saving certificates

Natural abilities that people possess are:

Aptitudes

Which of the following situations is a person who could be insolvent

Assets 40,000 liabilities 45,000

The current financial position of an individual or family is best presented with the use of a:

Balance sheet

Which of the following are considered to be personal financial statements

Balance sheet and cash flow statement

Total earnings of a person less deductions for taxes and other items is called

Take-home pay

The FED refers to:

The federal reserve system