Fin Lit Midterm

Multiple Choice

100

1. A resume should include all of the following except

   1. A valid phone number

   2. An appropriate email address

   3. A photo

   4. Work history

What is a photo?

200

1. When writing on your resume what kind of words should be used in your job descriptions?

   1. Grown-up words

   2. Power words

   3. Silly words

   4. Business words

What are power words?

300

1. How long do hiring managers look at a resume before deciding whether or not to offer an interview?

   1. 30-40 seconds

   2. 2 minutes

   3. 40-50 seconds

   4. 15-20 seconds

What is 15-20 seconds?

400

1. What does SMART stand for?

   1. Specific, Measurable, Attainable, Realistic, Time-limited

   2. Specific, Measurable, Action, Realistic, Timely

   3. Serious, Measurable, Attainable, Realistic, Time-limited

   4. Serious, Manageable, Action, Relevant, Timely

What is Specific, Measurable, Attainable, Realistic, and Time-limited?

500

1. Which of the following does NOT influence decision-making

   1. Values

   2. Age

   3. Peers

   4. Weather

What is weather?

Definition

100

What a person gives up when a decision is made, trade-off

What is opportunity cost?

200

May involve giving up time, health, or energy

What is Personal Opportunity Cost?

300

Changing interest rates affect your cost and your benefits

What is interest rate risk?

400

Rising prices cause lower buying power, buying an item later may mean higher prices

What is inflation risk?

500

Changes in the buying power of the dollar, inflation

What are consumer prices?

Calculations

100

Principle Amount/Percentage=Time it will take to double investment. 

What is this rule called?

What is the Rule of 72?

200

1. Diane invests $500 today in an account earning 7%. How much will it be worth in 5 years?____ 10 years?____20 years?____

What is it asking you to calculate?

What is the Time Value of Money?

300

Random! Define net income.

What is take-home-pay? What is the money you get to actually spend after paying for taxes?

400

Write check #105 to Trusty Bank for your car payment in the amount of $346.72

Write me the check

500

Write check #107 to Jim's Gas Station for $22.00 for gas and oil. 

Write the check

Short Answer

100

List three reasons how you save

Answers may vary

200

List three reasons why you save

Answers may vary

300

Insures each account in a federally chartered bank up to $100,000 per account. 

What is the FDIC?

400

Insures each account in a federal credit union up to $100,000 per account. 

What is the NCUA?

500

What does FDIC and NCUA stand for?

What is the Federal Deposit Insurance Corporation?

What is the National Credit Union Administration?

Interview Q's

100

Tell me about yourself

Answers may vary. Should be concise with very little stuttering or pausing.

200

Do you consider yourself successful and why?

Answers may vary.

300

What do you expect to be paid?

Answer should be turned back around on the employer in a polite manner.

400

What irritates you about your past co-workers?

Should be said in a positive way. Never talk down about people you have worked for or with.

500

Random! Define gross income. 

What is the amount of money a person earns BEFORE paying taxes?