Chapter 2 (Personal Finance)
Annual tax
=Annual travel allowance × Tax rate
Minimum salary
=Current salary × (1 + Cost of living increase)
What are examples of campus project opportunities?
Active officer of a campus organization Manager of people for a campus fund-raiser
When comparing the employee benefits and financial aspects of job offers, you should do which of the following?
Calculate the difference between the salaries and the hours mandated to work. Calculate the market value of health insurance. Compare the time off and sick leave.
What does the Occupational Outlook Handbook cover?
Career planning and job search tools and specific job information
Career aptitudes can be discovered through what?
Interest inventories
What is the best explanation of technical skills?
Specific skill sets that are needed to perform your job
What is the primary reason for completing an internship?
The career industry may be very competitive & you obtain needed job experience..
What do market value calculations determine?
They determine the specific monetary value of employee benefits
What is the connection between general skills and technical skills?
When combined, they create a well-trained, adaptable employee.
How can market value calculations help decide between accepting or rejecting a job?
When comparing two job offers, calculate the value of the health insurance as well as the salary
What would be the primary outcome of campus project opportunities?
Work-related experience
What is an example of a trade-off due to career choice?
choosing part-time employment to increase family time
Alternative job searching methods are
online company search a face to face or walk-in job inquiry talking with alumni with similar majors and careers
Tax-equivalent value
=Nontaxable amount / ( 1 - Tax rate)
Monetary value
=Salary + Nontaxable benefits / (1 - Tax rate)
Annual travel allowance
=Weekly allowance × 52 weeks
The demographic trends will not influence employment opportunities in a country
False
Which of the following is recommended by counselors to cope with a job termination?
Maintain normal habits, involve yourself with activities, improve career skills, look for work, and target your skills to organizations
Which of the following is recommended by counselors to cope with a job termination?
Maintain normal habits, involve yourself with activities, improve career skills, look for work, and target your skills to organizations.
The relationship of education and earnings is best described by which of the following?
The more education you have, the greater knowledge and skills you have that your employer may be willing to reward
What do employment agencies do?
They match workers and companies for future employment.
70% of professional jobs are found through personal contacts and networking and 15% are found through job ads
True
Employees should compare taxable and nontaxable employee benefit
True
Employees should compare taxable and nontaxable employee benefits.
True
Social intelligence is the ability of individuals to use important traits adaptable to most work situations to control themselves and act wisely around each other.
True
A first step in developing a career action plan would be a SWOT analysis, in which you consider _____, _____, _____, and _____
strengths, weaknesses, opportunities and threats.
Alternative job searching methods are:
talking with alumni with similar majors and careers online company search a face to face or walk-in job inquiry
When using an employment agency be careful when
the agency charges a fee without the promise of work
The career action plan has four steps. Place them in the correct order.
Describe current situation Set a specific goal Identify the time frame for the goal List actions to take to achieve that goal
The for-profit groups that find work for workers are known as ______ ______.
employment agencies
Why are some salary levels higher in big cities?
The cost of living is higher, and thus the salary will need to be higher
What is a simple way of describing market value calculations?
The cost of the benefits if you had to pay for them yourself.
What are examples of campus project opportunities
What are examples of campus project opportunities Active officer of a campus organization
If you are not enjoying the work you are doing and you feel distressed about it, then it may be time for
a new job
Additional earnings
additional x years
A person may naturally have a talent of working with numbers, which can be used to establish a career. This is an example of:
application of an aptitude
Your ability to locate existing and potential employment positions is limited only by your
imagination and initiative.
Comparing taxable and nontaxable employee benefits of multiple job offers is important because
it can help you compare different job offers it can help you match employee benefits to your personal needs
Comparing taxable and nontaxable employee benefits of multiple job offers is important because:
it can help you match employee benefits to your personal needs it can help you compare different job offers
Some of the general competencies that successful people commonly possess include:
knowledge of computer application effective written and oral communication skills knowledge of research techniques and resource materials
On average, a person with a professional or doctoral degree will earn _____ a person with a two-year degree over a lifetime.
more than twice as much as
