Show:
Choosing a Job
Money!!
Earning Potential
Miscellaneous
Vocabulary
100
Which of the following is a major factor in helping you achieve your financial goals? a. your job choice b. the amount of overtime you work c. your ability to balance work and personal life d. where you live
What is your job choice?
100
Luiz has worked 35 hours each of the past two weeks. If he earns $7.50 an hour and is paid every two weeks, what is his gross pay for the last two-week pay period?
What is $525? ($7.50 x 70 hours)
100
Which of the following strategies has the most potential to prevent you from boosting your earning potential? a. Frequently changing jobs with different employers to learn new skills and gain experience b. Working at the same company every summer break c. Enlisting in the military right after graduating from high school d. Enrolling in a local community college while living with your family
What is frequently changing jobs to learn new skills?
100
True or False: The No. 1 reason why students drop out of higher education programs is due to money management problems.
What is true?
100
An amount paid by employers in recognition of exceptional work
What is a bonus?
200
Which is an example of an opportunity cost related to earning potential? a. Reduce income by cutting back on work hours to have time to attend classes at the local community college. b. Apply for a scholarship to pay for college tuition and a new computer. c. Improve time management skills. d. Decide on a career that fits into your desired lifestyle.
What is reducing income by cutting back on work hours to have time to attend community college?
200
During her first year on the job, Monique earned a $22,880 annual salary ($11 an hour). She started the job with paid leave for five vacation days and five sick days. Plus, her employer pays the $300 monthly premium for health insurance. What is Monique’s total annual compensation?
What is $26,480? [$22,880 annual pay + $3,600 insurance premiums ($300 x 12 months)]
200
Janelle is applying to work a full-time job next summer. So far, her only paid work experience has involved babysitting. What should Janelle tell an employer who asks about her work experience? a. Point out the skills and responsibilities required when she was paid to provide child care. b. State the skills used when she participated in school plays and classroom activities. c. Summarize the skills she developed while living in Spain as an exchange student. d. All of the above
What is all of the above?
200
True or False: Martin does not have to pay income taxes on the cash tips he received while working his shift at the car wash.
What is false? (Tips are considered income and can be taxed)
200
What is the difference between gross pay and net pay?
What is gross pay is before taxes are taken out, net pay is after taxes
300
Ben really enjoys outdoor activities. When he isn’t working, he’s biking, hiking, sailing, or training to run marathons. Which of the following criteria would Ben think is the least important as he decides on a career to support his lifestyle? a. high-paying b. employee benefits such as paid vacations, health insurance c. flexible work schedule d. location—away from major city
What is high-paying?
300
After three months on the job, Luiz received a 50-cent raise and now makes $8.00 an hour. He also now has insurance benefits. He worked 35 hours one week and 42 hours the second week of the recent pay period. And his deductions totaled $217.90. What is his net pay?
What is $406.10? [(75 reg hrs x $8/hr) + (2 overtime hrs x $12 OT pay) = $624 gross pay - $217.90)]
300
Janelle is considering a future career in graphic design. Which one of these summer jobs has the most potential to help Janelle jumpstart her career? a. a salesclerk at a bookstore: minimum wage plus discounts on books and magazines b. an advertising assistant for the local newspaper: minimum wage job that requires proofreading and setting up ads in the weekly newspaper c. any job that pays more than minimum wage to pay for her graphic design classes d. a stock clerk at the local hobby supply store: flexible work hours, minimum wage, and responsibilities to stock shelves with art and hobby supplies
What is an advertising assistant?
300
What is 1 cost factor to think about when comparing the cost of living in two different cities.
What is - sales taxes - local and/or city income taxes - transportation - insurance - utilities - food/groceries - home value
300
Pay is based on a percentage of the cost of items or services sold.
What is commission?
400
Of the following types of jobs, which would be the best option to support the hobby of Alison, who performs in a band for area festivals, dances, and receptions? a. on-call emergency room nurse b. hotel night clerk c. dental assistant d. volunteer fire fighter
What is a dental assistant?
400
Name an employee benefit that is commonly offered by employers.
What is - health insurance - retirement savings plan - life insurance - disability insurance - tuition assistance - training and professional development
400
Along with the cost of living, what is another thing to consider as you decide where you will live and work?
What is - employment trends - average salary/pay - transportation - schools - safety/crime rates - opportunity for jobs in preferred career - proximity to family and friends - access to recreational/hobby activities - affordable and available housing - access to services (i.e. health care, child care)
400
What is a W-4 form used for and why is the allowance amount important?
What is employers use the information on the IRS form to determine how much income tax and FICA amounts to withhold from pay
400
An opportunity to combine on-the-job training with class instruction.
What is apprenticeship?
500
An employer-sponsored retirement savings plan is … a. usually only available for employees who work more than 10 years at the company. b. a valuable employee benefit. c. funded solely by the employer. d. only available to retired people.
What is a valuable employee benefit?
500
Other than borrowing money, what are two other strategies you might use to cover college or training costs?
What is - get a job - join the military - save in a college savings fund - apply for scholarships - apply for grants - apply for a work-study program - enroll in an employer training program - test out of college credit - make use of an employer tuition reimbursement program
500
Why would someone want to start his or her own business rather than work for someone else?
What is you are able to make own business decisions regarding what services or products to sell?
500
Kersti is single with no children. This is her only full-time job, and she said she is earning a little more than minimum wage. What should she write for allowances on the W-4 form?
What is 2? (1 for herself + 1 for being single with only 1 job)
500
A payment made for academic achievement.
What is a scholarship?