ALLIED FIN202 MODULE 1 CHECK YOUR UNDERSTANDING

Question Points
1. Kenton
Greer wants to locate employment positions presently available in his career
area. This information is best obtained in:
a. the Occupational
Outlook Handbook.
b. professional
contacts.
c. an informational
interview.
d. the Bureau of
Labor Statistics.
.
2. A
functional résumé is best for a person who:
a. has diverse
skills.
b. is interested in
a specific job.
c. has a continuous
school and work record.
d. plans to advance
in the same career area.
3. A common
criticism of including a career objective on a résumé is that it:
a. may be too vague.
b. takes too much
room on the résumé.
c. is frequently the
same as that of other candidates.
d. is not of
interest to most employers.
.
4. Natural
abilities that people possess are called:
a. interests.
b. aptitudes.
c. attitudes.
d. personality
traits.
5. The
stages that an individual goes through based on age, financial needs, and
family situation is called the:
a. financial
planning process.
b. budgeting
procedure.
c. personal economic
cycle.
d. adult life cycle.
6. 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.
a. demographic
trends
b. economic
conditions
c. industry trends
d. geographic trends
7. The time
value of money refers to:
a. personal
opportunity costs, such as time lost on an activity.
b. financial
decisions that require borrowing funds from a financial institution.
c. changes in
interest rates due to changes in the supply and demand for money in our
economy.
d. increases in an
amount of money as a result of interest.
.
8. 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 ____________ résumé.
a. targeted
b. functional
c. chronological
d. goal-oriented
9. An
example of a personal opportunity cost would be:
a. interest lost by
using savings to make a purchase.
b. higher earnings
on savings that must be kept on deposit a minimum of six months.
c. lost wages due to
continuing as a full-time student.
d. time comparing
several brands of personal computers.
10. The main
responsibility of The Fed is to:
a. maintain an
adequate supply of money.
b. approve spending
by Congress.
c. set federal
income tax rates.
d. determine illegal
business activities.
a. the amount of
income available.
b. the stage of the
adult life cycle.
c. a person’s tax
status.
d. how resources are
used.
.
12. Higher
prices are likely to result from:
a. lower demand by
consumers.
b. increased
production by business.
c. lower interest
rates.
d. increased
spending by consumers without increased production.
13. The final
step of the career planning process is to:
a. plan for career
development.
b. evaluate the job
market.
c. research specific
career areas.
d. identify
potential job opportunities.
14. __________
goals relate to personal relationships, health, and education.
a. Durable-product
b. Short-term
c.
Consumable-product
d. Intangible
purchase
.
15. Tom Husson
recently coordinated a fundraising project for an organization that assists
homeless youth. This would most likely be an example of experience in:
a. doing research on
a company.
b. obtaining
financial planning and budgeting skills.
c. public speaking.
d. human relations.
16. An
interview designed to reduce the number of candidates for a position to a
workable size is a(n) ___________ interview.
a. screening
b. informal
c. selection
d. contact
Hint: p. 75
17. For an
entry-level position, a person’s résumé is likely to be:
a. one page.
b. two pages.
c. three pages.
d. four pages.
18. Which of
the following goals would be the easiest to implement and measure its
accomplishment?
a. Reduce our debt
payments.
b. Save funds for an
annual vacation.
c. Save $100 a month
to create a $4,000 emergency fund.
d. Invest $2,000 a
year for retirement.
19. Who is
most likely to benefit from inflation?
a. Retired people
b. Lenders
c. Borrowers
d. Low-income
consumers
20. The study
of how wealth is created and distributed is:
a. financial
planning.
b. opportunity cost.
c. inflation.
d. economics.