Taxes
What is the primary purpose of taxes in a modern economy?
a. To create financial burden for citizens
b. To fund public services and infrastructure
c. To reduce business activity
d. To increase individual wealth
b. To fund public services and infrastructure
What is the key distinction between investing and saving?
Investing involves higher risk for potentially higher returns
What happens to existing bond prices when interest rates rise?
They decrease in value
What is the net price of a college?
The price after financial aid is deducted
Which networking strategy is considered most effective for career development?
a. Focusing on quantity of connections
b. Building relationships before needing them
c. Connecting only with senior executives
d. Attending only virtual events
b. Building relationships before needing them
What tax system increases rates as income increases?
Progressive tax
Which type of investment typically offers the highest potential long-term returns?
Stocks
Which type of bond is generally considered the lowest risk?
Government Bonds
What should be prioritized when accepting financial aid for college?
Scholarships and grants
Which resume format is most appropriate for career changers?
a. Chronological
b. Functional
c. Visual
d. Academic
b. Functional
What type of taxes fund Medicare and Social Security?
FICA taxes
What is one effective way investors can minimize investment risk?
Portfolio diversification
What characterizes comprehensive auto insurance coverage?
Protects against non-accident related damages
When does the FAFSA application period officially begin each year?
October 1st
What best describes the STAR method in interviewing?
Structuring interview responses
Which document is used to determine how much tax should be withheld from an employee's paycheck?
W-4 form
How can investors make money from stocks?
Through dividends and price appreciation
What is typically included in standard homeowners insurance coverage?
Both structure and contents
How much does it cost to file the FAFSA each year?
Free!
What is the most effective approach to discussing previous negative work experiences during job interviews?
Focus on growth and lessons learned
When should employees receive their W-2 forms from employers?
January 31st
What is the primary advantage of starting to invest at a young age?
More time for compound growth
What is the primary function of insurance risk pooling?
Premiums from many individuals cover claims for those who need it
What should you do if you can't afford your student loan payments?
Apply for deferment or forbearance
What is the recommended timeframe for sending a post-interview thank-you note?
Within 24 hours