Personal Finance (McGraw-Hill/Irwin Series in Finance, Insurance, and Real Est) by Jack Kapoor, Les Dlabay and Robert J. Hughes - 11e, solutions manual test bank 0077861647
ch2 Key
1. (p. 48) | A job tends to have less of a long-term commitment to a field than a career. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #1 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Careers vs. Jobs |
2. (p. 62) | Corporate culture refers to the methods used by an organization to determine the value of employee benefits. FALSE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #2 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Corporate Culture |
3. (p. 48) | A possible opportunity cost associated with career advancement is a need to relocate your household. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #3 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Career Trade-offs |
4. (p. 50) | An interest inventory measures a person's aptitudes. FALSE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #4 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Interest Inventory |
5. (p. 52) | Certain careers increase and decrease in demand based on changes in interest rates. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #5 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Effect of Interest Rates on Career Demand |
6. (p. 53) | Increased technology can result in a reduction of employment in one industry while creating new jobs in other industries. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #6 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Effect of Technology on Job Outlook |
7. (p. 56) | Libraries usually have a variety of information sources for career planning and job exploration. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #7 Learning Objective: 02-03 Implement employment search strategies. Topic: Libraries as Source of Career/Job Information |
8. (p. 52) | Current business and economic news can be an indication of future job demand. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #8 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Economic and Business News as Indication of Job Demand |
9. (p. 59) | The purpose of an informational interview is to obtain employment from a branch office of a major corporation. FALSE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #9 Learning Objective: 02-03 Implement employment search strategies. Topic: Informational Interview |
10. (p. 60) | Government supported employment services can assist individuals with finding a job. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #10 Learning Objective: 02-03 Implement employment search strategies. Topic: Government Employment Services |
11. (p. 63) | A cafeteria-style employee benefits program allows workers to select the benefits they prefer based on their personal situations. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #11 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Cafeteria-Style Benefits |
12. (p. 64) | A tax-exempt employee benefit is usually more advantageous than a tax-deferred benefit. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 3 Hard Kapoor - Chapter 02 #12 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Tax-Exempt Employee Benefits |
13. (p. 66) | Continuing career education can be in a formal or an informal setting. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #13 Learning Objective: 02-05 Analyze techniques available for career growth and advancement. Topic: Continuing Career Education |
14. (p. 66) | A mentor is an experienced employee who serves as a teacher and counselor for a less experienced person in a career field. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #14 Learning Objective: 02-05 Analyze techniques available for career growth and advancement. Topic: Mentors |
15. (p. 75) | A person's birth date, sex, height, and weight should only be included on a resume‚ if that information relates specifically to qualifications for an employment position. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #15 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Personal Data Section of Resume |
16. (p. 75) | A list of grades received in school is commonly included on a resume. FALSE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #16 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Education Section on Resume |
17. (p. 76) | References are generally omitted from a resume. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #17 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: References Section of Resume |
18. (p. 78) | Functional resumes emphasize a person's skills and abilities in categories such as communications, research, and human relations. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #18 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Functional Resume |
19. (p. 80) | The purpose of a cover letter is to determine if a company has jobs available. FALSE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #19 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Cover Letters |
20. (p. 83) | A screening interview is reserved for only the finalists in a job search. FALSE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #20 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Screening Interviews |
21. (p. 58) | An elevator speech is a short, persuasive, focused summary of your unique experiences and skills used when networking. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #21 Learning Objective: 02-03 Implementing Employment Search Strategies. Topic: Networking |
22. (p. 63) | A medical-spending account (MSA) allows people to pay health care costs with pretax dollars. TRUE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #22 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Evaluating Employee Benefits |
23. (p. 84) | It is legal for an interviewer to ask you about your marital status. FALSE |
Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #23 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Interview Process |
24. (p. 48) | Compared to a job, a career:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #24 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Job versus Career |
25. (p. 48) | A(n) ____________ is an employment position that is obtained mainly to earn money.
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #25 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Job versus Career |
26. (p. 48) | Which one of the following is defined as a commitment to a profession that requires continued training and offers a clear path for occupational growth?
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #26 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Career Definition |
27. (p. 51) | The first step of the career planning process is to:
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Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 1 Easy Kapoor - Chapter 02 #27 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Career Planning Process |
28. (p. 51) | The final step of the career planning process is to:
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Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 1 Easy Kapoor - Chapter 02 #28 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Career Planning Process |
29. (p. 51) | In the career planning process, after identifying specific job opportunities, a person should:
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Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 2 Medium Kapoor - Chapter 02 #29 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Career Planning Process |
30. (p. 49) | A lack of willingness to accept a variety of employment positions is a common career planning mistake associated with a lack of:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #30 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Common Career Planning Mistakes |
31. (p. 50) | Natural abilities that people possess are called:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #31 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Personal Factors: Aptitudes |
32. (p. 50) | Mathematical abilities, problem-solving skills, and physical dexterity are examples of:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #32 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: General Career Skills |
33. (p. 53) | Which of the following trends is most likely to increase domestic career opportunities in manufacturing organizations?
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #33 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Economic Conditions and Career Opportunities |
34. (p. 52) | Changes in the demand for goods and services are an example of a(n) ____________ influence on the job market.
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #34 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Economic Conditions and Career Opportunities |
35. (p. 53) | Which of the following is an example of an industrial trend that could affect the job market?
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #35 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Employment Trends |
36. (p. 52) | Bill Evans is concerned about the effect of current economic conditions on various career fields. Which one of the following would be most useful to Bill as he addresses his concerns?
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Accessibility: Keyboard Navigation Blooms: Evaluate Difficulty: 2 Medium Kapoor - Chapter 02 #36 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Career Information Sources |
37. (p. 55) | The Occupational Outlook Handbook would be most useful for determining:
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Accessibility: Keyboard Navigation Blooms: Evaluate Difficulty: 2 Medium Kapoor - Chapter 02 #37 Learning Objective: 02-03 Implement employment search strategies. Topic: Career Information Sources |
38. (p. 56) | Which one of the following is a professional association that can assist in career planning for a specific career area?
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #38 Learning Objective: 02-03 Implement employment search strategies. Topic: Career Information Sources |
39. (p. 59) | The purpose of an informational interview is to:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #39 Learning Objective: 02-03 Implement employment search strategies. Topic: Informational Interview |
40. (p. 56) | Kenton Greer wants to locate employment positions presently available in his career area. This information would be best obtained:
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Accessibility: Keyboard Navigation Blooms: Analyze Difficulty: 2 Medium Kapoor - Chapter 02 #40 Learning Objective: 02-03 Implement employment search strategies. Topic: Career Information Sources |
41. (p. 64) | To assess the current value of a lump-sum retirement benefit that will be received in 10 years, use the ____________ calculation.
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #41 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Comparing Benefits |
42. (p. 65) | Barb Hotchkins is in the 28 percent tax bracket. A tax-exempt employee benefit with a value of $500 would have a tax-equivalent value of:
$694 = $500/(1 - .28) |
Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 3 Hard Kapoor - Chapter 02 #42 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Tax-Exempt Employee Benefits |
43. (p. 64) | Federal tax-deferred employee benefits are:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 3 Hard Kapoor - Chapter 02 #43 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Tax-Deferred Employee Benefits |
44. (p. 66) | Efficient work habits are an example of:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #44 Learning Objective: 02-05 Analyze techniques available for career growth and advancement. Topic: Career Advancement/Employee Initiative |
45. (p. 75) | A common criticism of including a career objective on a resume is that it:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #45 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Career Objective on Resume |
46. (p. 75) | The education section of a resume should include:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #46 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Education Section on Resume |
47. (p. 55) | Tom Husson recently coordinated a fund raising project for an organization that assists homeless youth. This would most likely be an example of experience in:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #47 Learning Objective: 02-03 Implement employment search strategies. Topic: Obtaining Financial Planning and Budgeting Skills |
48. (p. 77) | A chronological resume sequences personal data based on:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #48 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Chronological Resume |
49. (p. 77) | A ____________ resume presents a person's education, work experience, and other information in a reverse time-sequence.
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #49 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Chronological Resume |
50. (p. 78) | A functional resume is best for a person who:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #50 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Functional Resume |
51. (p. 78) | A person who has worked in many fields and has a variety of skills in categories such as communications, research, and personnel administration would probably be best served with the use of a ____________ resume.
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #51 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Types of Resumes |
52. (p. 78) | A ____________ resume is designed to obtain a specific job.
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #52 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Types of Resumes/Targeted |
53. (p. 79) | For an entry-level position, a person's resume is likely to be:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #53 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Resume Preparation/Page Length |
54. (p. 79) | Creative resumes or those with a gimmick are most appropriate for careers in:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #54 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Resume Alternatives/Gimmicky Resume |
55. (p. 80) | What is the purpose of a cover letter?
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #55 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Cover Letters |
56. (p. 80) | The purpose of the development section of a cover letter is to:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #56 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Cover Letters/Development Section |
57. (p. 83) | An interview designed to reduce the number of candidates for a position to a workable size is a(n) ____________ interview.
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #57 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Types of Interviews/Screening |
58. (p. 83) | The purpose of a screening interview is to:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #58 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Types of Interviews/Screening |
59. (p. 83) | The finalists for a job position are invited for a(n) ____________ interview.
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #59 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Types of Interviews/Selection |
60. (p. 83) | The purpose of a selection interview is to:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #60 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Types of Interviews/Selection |
61. (p. 49) | Which one of the following would likely lead to the most added income over an individual's working career?
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Accessibility: Keyboard Navigation Blooms: Evaluate Difficulty: 1 Easy Kapoor - Chapter 02 #61 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Effects of Educational Attainment on Salary |
62. (p. 49) | Which of the following would be a competency commonly associated with successful people?
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #62 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Competencies of Successful People |
63. (p. 52) | Ned Turner has done some research and has found that the population in the U.S. is aging which means there will be an increased need for health care professionals in the future. This is an example of __________________ influencing jobs in the future.
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #63 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Industry Trends/Demographic |
64. (p. 53) | Jeremy Irons has done some research and has discovered that the states with the largest population growth are Colorado and Arizona. Based on his findings, Jeremy believes these states will experience greater job growth as a result. This is an example of _____ influencing jobs in the future.
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #64 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Industry Trends/Geographic |
65. (p. 52) | Blake Edwards has done some research and has discovered that economists believe interest rates will rise significantly over the next two years. Blake believes that this will lead to fewer homes being sold and fewer jobs in the banking and mortgage industries. This is an example of __________________ influencing jobs in the future.
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #65 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Industry Trends/Economic Conditions |
66. (p. 51) | Billy Freniere has gone to the career placement center at his university. He has taken both an interests test and a personality test and has found careers where his interests and personality are well suited. Which step in the career planning process has Billy completed?
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Accessibility: Keyboard Navigation Blooms: Analyze Difficulty: 2 Medium Kapoor - Chapter 02 #66 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Steps in the Career Planning Process/Assessing Personal Goals/Abilities |
67. (p. 51) | Brock Trotter has gone to monster.com as well as his local newspaper and has found five job possibilities that he feels fit his abilities and interests. Which step in the career planning process has Brock completed?
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Accessibility: Keyboard Navigation Blooms: Analyze Difficulty: 2 Medium Kapoor - Chapter 02 #67 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Steps in the Career Planning Process/Evaluating Employment Market |
68. (p. 51) | Austin Guess has written his resume and had 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?
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Accessibility: Keyboard Navigation Blooms: Analyze Difficulty: 2 Medium Kapoor - Chapter 02 #68 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Steps in the Career Planning Process/Resumes and Cover Letters |
69. (p. 51) | Kyle Burroughs has purchased a suit and has interviewed with three companies through the career placement center at his university. He was surprised by some of the questions asked and does not feel he answered them well. He has developed some answers that he feels are better answers and better reflects his abilities and aptitudes. Which step in the career planning process has Kyle completed?
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Accessibility: Keyboard Navigation Blooms: Analyze Difficulty: 2 Medium Kapoor - Chapter 02 #69 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Steps in the Career Planning Process/Interviewing |
70. (p. 51) | Jason Liang has gotten three job offers. He is now looking at the benefits packages of all three to see what he likes and doesn't like. Which step in the career planning process is Jason completing?
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Accessibility: Keyboard Navigation Blooms: Analyze Difficulty: 2 Medium Kapoor - Chapter 02 #70 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Steps in the Career Planning Process/Evaluating Job Offers |
71. (p. 55) | Jennifer Ryan wants to gain some employment experience so when she is ready to start a career she has something to offer a company. She has decided to work 20 hours a week for a local accounting firm answering the phone and assisting the partners in completing tax returns. Which of the following employment experience strategies is she pursuing?
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Accessibility: Keyboard Navigation Blooms: Analyze Difficulty: 2 Medium Kapoor - Chapter 02 #71 Learning Objective: 02-03 Implement employment search strategies. Topic: Obtaining Employment Experience/Part-Time Employment |
72. (p. 55) | Tara Guest wants to gain some needed experience so when she is ready to start a career she has something to offer a company. She has decided to help the Edmond Historical Society present programs to local school children. Which of the following employment experience strategies is she pursuing?
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Accessibility: Keyboard Navigation Blooms: Analyze Difficulty: 2 Medium Kapoor - Chapter 02 #72 Learning Objective: 02-03 Implement employment search strategies. Topic: Obtaining Employment Experience/Volunteer Work |
73. (p. 55) | Lisa Trotter wants to gain some needed experience so when she is ready to start a career she has something to offer a company. She has decided to help with the homecoming parade for the University of Central Oklahoma where she goes to school full-time. Which of the following employment strategies is she pursuing?
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Accessibility: Keyboard Navigation Blooms: Analyze Difficulty: 2 Medium Kapoor - Chapter 02 #73 Learning Objective: 02-03 Implement employment search strategies. Topic: Obtaining Employment Experience/Campus Projects |
74. (p. 55) | Lori Burroughs wants to gain some needed experience so when she is ready to start a career she has something to offer a company. She has talked to the career placement center at her university. They tell her she can get a job with a local company for the summer and earn college credit while working. Which of the following employment strategies is she pursuing?
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Accessibility: Keyboard Navigation Blooms: Analyze Difficulty: 2 Medium Kapoor - Chapter 02 #74 Learning Objective: 02-03 Implement employment search strategies. Topic: Obtaining Employment Experience/Internships |
75. (p. 56) | Which of the following is the process of making and using contacts in the business world for obtaining and updating career information and job possibilities?
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #75 Learning Objective: 02-03 Implement employment search strategies. Topic: Networking |
76. (p. 60) | Which of the following is an opportunity to contact several firms in a short time span? (Hint: It is often held at local universities or convention centers.)
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #76 Learning Objective: 02-03 Implement employment search strategies. Topic: Career Fairs |
77. (p. 54) | Which of the following is sent to a company to indicate your interest in a position and to obtain an interview? (Hint: It is generally accompanied by your resume.)
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #77 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Cover Letters |
78. (p. 64) | Which of the following is the point at which retirement contributions made on your behalf by the company belong to you even if you no longer work for the company?
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #78 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Employee Benefits/Vesting |
79. (p. 64) | Which of the following is a benefit on which you pay taxes at some future date?
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #79 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Tax Deferred Benefits |
80. (p. 64) | _________ is a benefit on which you pay no taxes.
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #80 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Tax Exempt Benefits |
81. (p. 49) | With completion of a bachelor's degree one can expect to earn _____ in income over a 40-year period.
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #81 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Effects of Educational Attainment on Salary |
82. (p. 52) | Caroline lives in City A and earns $50,000 per year. The cost of living index in City A is .8. She is considering a move to City B which has a cost of living index of .9. How large a salary will she require in City B to maintain her current standard of living?
$56,250 = (.9 × $50,000)/.8 |
Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 3 Hard Kapoor - Chapter 02 #82 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Cost of Living Comparisons |
83. (p. 56) | The term networking refers to:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #83 Learning Objective: 02-03 Implement employment search strategies. Topic: Networking |
84. (p. 62) | Which one of the following is not an element of corporate culture?
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Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 2 Medium Kapoor - Chapter 02 #84 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Corporate Culture |
85. (p. 65) | Joseph is eligible for a nontaxable life insurance benefit with an annual premium of $400 paid entirely by his employer. Assuming Joseph is in a 25% bracket, how much would he have to earn to pay for this benefit with after-tax dollars?
$533.33 = $400/(1 - .25) |
Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 2 Medium Kapoor - Chapter 02 #85 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Comparing Benefits/Taxable versus Nontaxable |
86. (p. 52) | In addition to inflation and consumer demand, what is another factor that can affect career opportunities?
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #86 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Career Opportunities - Economic Factors |
87. (p. 66) | Having a relationship with a mentor can provide the following benefit(s):
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #87 Learning Objective: 02-05 Analyze techniques available for career growth and advancement. Topic: Career Paths and Advancement |
88. (p. 75) | Which of the following is an example of the type of information that you would not include on a resume unless it applies to specific job qualifications?
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #88 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: The Interview Process |
89. (p. 77) | The following information is generally not included on a resume:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #89 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Developing a Resume |
90. (p. 63) | A type of employee benefits program that allows workers to base their job benefits on a credit system and personal needs is called:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #90 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Evaluating Employee Benefits |
91. (p. 52) | In recent years, approximately what percent of new jobs in the U.S. economy occurred in companies with fewer than 100 employees?
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #91 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Economic Conditions |
92. (p. 56) | The main sources of networking include the following:
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Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kapoor - Chapter 02 #92 Learning Objective: 02-03 Implement employment search strategies. Topic: Networking |
93. (p. 51) | What steps should a person take when planning a career? Answers will vary. Feedback: The career planning process involves the following steps: (1) assess your interests, abilities, and goals; (2) evaluate the job market; (3) develop a resume and cover letter; (4) interview for available positions; (5) evaluate job offers; and (6) plan for career growth. |
Blooms: Apply Difficulty: 2 Medium Kapoor - Chapter 02 #93 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Steps in the Career Planning Process |
94. (p. 52-54) | What factors affect the availability of employment positions? Answers will vary. Feedback: The job market is influenced by economic, industrial, technological, social, and geographic factors. |
Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #94 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Factors Affecting Employment Availability |
95. (p. 56) | Discuss the types of information available for use when doing career planning. Answers will vary. Feedback: The major sources of career planning information are the library, government publications, mass media (television, radio, newspaper, magazine) reports, the Internet, the career development offices, community organizations, professional associations, and business contacts. |
Blooms: Understand Difficulty: 2 Medium Kapoor - Chapter 02 #95 Learning Objective: 02-03 Implement employment search strategies. Topic: Career Planning Informational Sources |
96. (p. 48-54) | Louise Ellis recently has been offered employment in another city. She has been employed in her current position for four years. What factors should Louise consider when evaluating this new position? Answers will vary. Feedback: Before accepting a position, you should consider the working environment of the organization, the operating policies, and the salary offered along with other financial employee benefits. Also, talk to people who currently work at the company to obtain information on the working conditions, benefits, and opportunities for advancement. |
Blooms: Evaluate Difficulty: 2 Medium Kapoor - Chapter 02 #96 Learning Objective: 02-01 Describe activities associated with career planning and advancement. Topic: Evaluating Career Opportunities/Job Changes |
97. (p. 81-83) | What activities are commonly suggested when preparing for a job interview? Answers will vary. Feedback: In preparation for a successful interview, a person should obtain additional information about the organization, develop questions that may be asked by the interviewer, practice interviewing skills, and plan to dress appropriately. |
Blooms: Apply Difficulty: 2 Medium Kapoor - Chapter 02 #97 Learning Objective: 02-A Resumes; Cover Letters; and Interviews Topic: Preparing for the Interview |
98. (p. 65) | You are given the choice of $4,000 in extra taxable income per year or a tax-exempt medical policy. The medical policy costs $300 per month. Your tax rate is 25%. Considering financial factors only, should you take the cash or the medical policy? Explain your decision. Answers will vary. Feedback: Take the company medical coverage. The after-tax value of $4,000 is $4,000 × .75 = $3,000. The comparable value of the insurance is $300 × 12 = $3,600. |
Blooms: Analyze Difficulty: 3 Hard Kapoor - Chapter 02 #98 Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. Topic: Comparing Employee Benefits/Taxable versus Nontaxable |
99. (p. 66-67) | Suzanne is beginning to think she needs to find a new job. She is happy with her present salary and job duties, and has a large corner office with a wonderful view of the city. In spite of this, she dreads going to work each day. Discuss four reasons that may be to blame for her dissatisfaction at work. Answers will vary. Feedback: At some time in their lives, most workers change jobs. The following may be indications that it is time to move on: low motivation toward your current work, physical or emotional stress caused by your job, consistently poor performance evaluations, a lack of social interactions with coworkers, limited opportunity for salary or position advancement, and/or a poor relationship with your supervisor. |
Blooms: Evaluate Difficulty: 2 Medium Kapoor - Chapter 02 #99 Learning Objective: 02-05 Analyze techniques available for career growth and advancement. Topic: Changing Careers/Job Satisfaction |
100. (p. 58) | What are the 3 steps to effective networking? First, prepare and practice a 30-second summary of your abilities and experience. Second, volunteer for committees and events of professional organizations. Third, ask questions to get others to talk about themselves and their experiences. |
Blooms: Apply Difficulty: 2 Medium Kapoor - Chapter 02 #100 Learning Objective: 02-03 Implement employment search strategies. Topic: Networking |
101. (p. 54) | If you are planning on starting a business, what 3 main issues must you consider? First, become knowledgeable about your product or service. Second, identify potential customers, select an appropriate location, and study competitors. Third, consider your financial resources. |
Blooms: Apply Difficulty: 2 Medium Kapoor - Chapter 02 #101 Learning Objective: 02-02 Evaluate factors that influence employment opportunities. Topic: Entrepreneurial Career Options |
ch2 Summary
Category | # of Questions |
Accessibility: Keyboard Navigation | 92 |
Blooms: Analyze | 11 |
Blooms: Apply | 11 |
Blooms: Evaluate | 5 |
Blooms: Understand | 74 |
Difficulty: 1 Easy | 30 |
Difficulty: 2 Medium | 66 |
Difficulty: 3 Hard | 5 |
Kapoor - Chapter 02 | 101 |
Learning Objective: 02-01 Describe activities associated with career planning and advancement. | 22 |
Learning Objective: 02-02 Evaluate factors that influence employment opportunities. | 15 |
Learning Objective: 02-03 Implement employment search strategies. | 18 |
Learning Objective: 02-03 Implementing Employment Search Strategies. | 1 |
Learning Objective: 02-04 Assess financial and legal concerns related to obtaining employment. | 14 |
Learning Objective: 02-05 Analyze techniques available for career growth and advancement. | 5 |
Learning Objective: 02-A Resumes; Cover Letters; and Interviews | 26 |
Topic: Cafeteria-Style Benefits | 1 |
Topic: Career Advancement/Employee Initiative | 1 |
Topic: Career Definition | 1 |
Topic: Career Fairs | 1 |
Topic: Career Information Sources | 4 |
Topic: Career Objective on Resume | 1 |
Topic: Career Opportunities - Economic Factors | 1 |
Topic: Career Paths and Advancement | 1 |
Topic: Career Planning Informational Sources | 1 |
Topic: Career Planning Process | 3 |
Topic: Career Trade-offs | 1 |
Topic: Careers vs. Jobs | 1 |
Topic: Changing Careers/Job Satisfaction | 1 |
Topic: Chronological Resume | 2 |
Topic: Common Career Planning Mistakes | 1 |
Topic: Comparing Benefits | 1 |
Topic: Comparing Benefits/Taxable versus Nontaxable | 1 |
Topic: Comparing Employee Benefits/Taxable versus Nontaxable | 1 |
Topic: Competencies of Successful People | 1 |
Topic: Continuing Career Education | 1 |
Topic: Corporate Culture | 2 |
Topic: Cost of Living Comparisons | 1 |
Topic: Cover Letters | 3 |
Topic: Cover Letters/Development Section | 1 |
Topic: Developing a Resume | 1 |
Topic: Economic and Business News as Indication of Job Demand | 1 |
Topic: Economic Conditions | 1 |
Topic: Economic Conditions and Career Opportunities | 2 |
Topic: Education Section on Resume | 2 |
Topic: Effect of Interest Rates on Career Demand | 1 |
Topic: Effect of Technology on Job Outlook | 1 |
Topic: Effects of Educational Attainment on Salary | 2 |
Topic: Employee Benefits/Vesting | 1 |
Topic: Employment Trends | 1 |
Topic: Entrepreneurial Career Options | 1 |
Topic: Evaluating Career Opportunities/Job Changes | 1 |
Topic: Evaluating Employee Benefits | 2 |
Topic: Factors Affecting Employment Availability | 1 |
Topic: Functional Resume | 2 |
Topic: General Career Skills | 1 |
Topic: Government Employment Services | 1 |
Topic: Industry Trends/Demographic | 1 |
Topic: Industry Trends/Economic Conditions | 1 |
Topic: Industry Trends/Geographic | 1 |
Topic: Informational Interview | 2 |
Topic: Interest Inventory | 1 |
Topic: Interview Process | 1 |
Topic: Job versus Career | 2 |
Topic: Libraries as Source of Career/Job Information | 1 |
Topic: Mentors | 1 |
Topic: Networking | 5 |
Topic: Obtaining Employment Experience/Campus Projects | 1 |
Topic: Obtaining Employment Experience/Internships | 1 |
Topic: Obtaining Employment Experience/Part-Time Employment | 1 |
Topic: Obtaining Employment Experience/Volunteer Work | 1 |
Topic: Obtaining Financial Planning and Budgeting Skills | 1 |
Topic: Personal Data Section of Resume | 1 |
Topic: Personal Factors: Aptitudes | 1 |
Topic: Preparing for the Interview | 1 |
Topic: References Section of Resume | 1 |
Topic: Resume Alternatives/Gimmicky Resume | 1 |
Topic: Resume Preparation/Page Length | 1 |
Topic: Screening Interviews | 1 |
Topic: Steps in the Career Planning Process | 1 |
Topic: Steps in the Career Planning Process/Assessing Personal Goals/Abilities | 1 |
Topic: Steps in the Career Planning Process/Evaluating Employment Market | 1 |
Topic: Steps in the Career Planning Process/Evaluating Job Offers | 1 |
Topic: Steps in the Career Planning Process/Interviewing | 1 |
Topic: Steps in the Career Planning Process/Resumes and Cover Letters | 1 |
Topic: Tax Deferred Benefits | 1 |
Topic: Tax Exempt Benefits | 1 |
Topic: Tax-Deferred Employee Benefits | 1 |
Topic: Tax-Exempt Employee Benefits | 2 |
Topic: The Interview Process | 1 |
Topic: Types of Interviews/Screening | 2 |
Topic: Types of Interviews/Selection | 2 |
Topic: Types of Resumes | 1 |
Topic: Types of Resumes/Targeted | 1 |
FINANCIAL ASPECTS OF CAREER PLANNING
CHAPTER OVERVIEW
A person’s career and work situation is frequently overlooked in financial planning. Your career will
influence the financial resources you have available for spending, savings, and investing. In addition, a
career interacts with a person’s lifestyle, interests, and values, all of which influence financial decisions.
This chapter provides a basic understanding of career planning, job selection, and obtaining an
employment position. Included is practical information regarding career information sources, creating a
résumé and cover letter, and interviewing. In addition, material on evaluating a job offer, assessing
financial benefits, and considering a career change is presented.
LEARNING OBJECTIVES
CHAPTER SUMMARY
After studying this chapter, students will be able to:
LO 2-1 Describe the activities
associated with career
planning and
advancement.
Career planning and advancement involve the following stages
and activities: (1) assess and research personal goals and abilities
and career fields; (2) evaluate the employment market and iden-
tify specific employment opportunities; (3) develop a résumé and
cover letter for use in applying for available positions; (4) inter-
view for available positions; (5) evaluate financial and other
factors of the positions you are offered; and (6) plan and imple-
ment a program for career development.
LO 2-2 Evaluate the factors that
influence employment
opportunities.
Consider the selection of a career in relation to personal abilities,
interests, experience, training, and goals; social influences
affecting employment such as demographic trends, changing
economic conditions, and industrial and technological trends.
LO 2-3 Implement employment
search strategies.
For successful career planning and development, do the
following. Obtain employment or related experiences by working
or by participating in campus and community activities. Use
career information sources to gain insight into employment fields
and to identify job opportunities. Prepare a résumé and cover
letter that effectively present your qualifications for a specific
employment position. Practice the interview skills that
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