CFM FINAL EXAM STUDY GUIDE

Benefits - Answer-Employment extras, such as insurance, paid vacation, and retirement plans Aptitude - Answer-Your potential to learn a certain skill Job Shadowing - Answer-Following someone on their job to learn about their work Networking - Answer-Communicating with people you know or meet to share information and advice about job leads Sole Proprietorship - Answer-A business completely owned by one person Partnership - Answer-A business owned by two or more people Corporation - Answer-A business, chartered by a state, that legally exists as a separate entity from its owners Entrepreneur - Answer-Someone who starts and runs their own business Franchise - Answer-The legal right to sell a company's goods and services in a particular area Exempt employee - Answer-An employee that is paid a salary (as opposed to being paid by the hour); not usually eligible for overtime pay Nonexempt employee - Answer-An employee paid by the hour and eligible for overtime pay Constructive Criticism - Answer-Criticism presented in a way that can help you learn and grow Flexible expense - Answer-An expense that can change from month to month. Examples are food, power bills, medical expenses Fixed expense - Answer-An expense that you have agreed to pay and is the same from month to month. Examples are loan payments, rent, cable bill Certificate of Deposit (CD) - Answer-A type of investment where you deposit an amount of money for a fixed amount of time at a fixed interest rate Keogh plan - Answer-A special type of investment plan, often used by self-employed persons, to save for retirement