Financial Lit Module 3 Test Questions Graded A+
earning potential is 100% determined by
you
5 ways career impacts your life
financial goals, money management habits, lifestyle, health and happiness, future jobs and pay
what percent of all jobs will require SOME college or higher
6...
earning potential is 100% determined by - answer you
5 ways career impacts your life - answer financial goals, money management habits,
lifestyle, health and happiness, future jobs and pay
what percent of all jobs will require SOME college or higher - answer66% (2/3)
apprenticeship - answer programs combining on the job training with classroom
instruction in a 2-4 year program
what percent of US military jobs have a civilian counterpart - answer86%
cost of college - answer private- $47,831
public in state- $24,061
public out of state- $38,544
eight times as many students drop out of degree and certificate programs due to ____
and _____ rather than because of grades - answer finances, debt
Chart of Jobs by Required Education in 2018 - answer dropouts- 10%
high school graduates- 28%
some college or higher- 17%
bachelor's- 23%
associate's- 12%
master's- 10%
overtime pay - answer entitled to make 150% your normal hourly rate for each hour
worked beyond 40 in a work week
commission - answer paid based on a percentage of the cost of the products you sell
compensation package - answer sum of pay and benefits
what to do to make you more attractive to employers - answer keep doing a good job,
time up your finances, update your resume, enlist support
FAFSA - answer free application for federal student aid
, IRS - answer internal revenue service
FICA - answer federal insurance contributions act
1040 - answer form you give to IRS that you fill out at the end of the year to file your
taxes
W2 - answer form employer gives to you so you know how much money has been
deducted from you over the year that has been paid in taxes
W4 - answer form employer gives you when you're first hired, gives you a chance to say
how many exemptions you're going to claim
4 (april)/15 - answer tax day
what are career clusters? - answer areas/clusters that careers can be divided into to
help you decide a direction for the future
how many career clusters are there? - answer16
possible directions after high school - answerfour year college, two year college,
apprenticeships, military, volunteering, religious life, missionary work
statistics regarding college degrees - answeroccupations requiring an associate degree
are to increase by 19%, 2010-2018
2/3 of jobs require some college
different costs associated with getting a college diploma - answerroom & board:
$10,138 public, $11,516 private
books & supplies: $1,298 public, $1,249 private
personal & transportation: $3,215 public, $2,661 private
average costs of college (private, public in/out of state) - answerprivate- $47,831
public in state- $24,061
public out of state- $38,544
3 costly college decisions - answercatch up classes, merry go round majors, campus
hopping
statistics on US college loan debt - answer$35,000, 21 years of loan repayment
different ways to ease the cost of a college tuition? - answersenior year apply early,
junior year start college process, financial aid, part time job during college,
scholarships/military opportunities, 529 plan
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