Chapter 2. Financial Aspects of Career
Planning Questions & Answers
An employee will receive a benefit of a $300 nontaxable , annual premium. The
employee is in the 28% tax bracket. What is the tax-equivalent amount if the benefit?
You can fund this in the discussion of tax-equivalent employee benefits. - ANSWER417
[416/(1-0.28)]=417
A job change is beneficial for a worker if in the current job he or she is experiencing. -
ANSWER-emotional distress caused by the job
-poor performance evaluations
-low motivation level
What are the decision-process guidelines for making a career change? - ANSWER-Ask
if the trade-off of another career is more beneficial.
-Ask if the career change will meet needs and goals.
-Asses the financial cost of changing careers.
-Asses benefit such as health insurance.
Which of the following is recommended by counselors to cope with a job termination? -
ANSWERMaintain normal habits, involve yourself with activities, improve career skills,
look for work, and target your skills to organizations.
If you are not enjoying the work you are doing and you feel distressed about it, then it
may be time for: - ANSWERa new job
The career action plan has four steps. Place them in the correct order. - ANSWER1.
Describe your current situation.
2.Set a specific goal.
3.Identify the time frame for this goal.
4.List actions to be taken to achieve this goal
If individuals' personal situation change, what should they also reassess? -
ANSWERIndividual should added the career they are preparing for.
Why do many people change jobs at some point in their lifetime? - ANSWERPersonal
and social factors will cause people to reassess their work situation.
What information can a newspaper provide about current jobs? - ANSWERWhat jobs
are available
Career trends for an industry
Economic influences on careers.
, The more ___ you have, the greater your earning potential. - ANSWERformal education
The demographic trends will not influence employment opportunities in a country. -
ANSWERFalse
A mentor is an experienced employee who serves as a teacher and counselor to a less-
experienced person in a career field. - ANSWERTrue
What do equal employment rights provide for individuals? - ANSWER-Ways to avoid
discrimination within the employment selection process.
-Ways to ensure that worker's compensation, social security, and unemployment
insurance is provided
Which of the following are useful methods for career planning? - ANSWER-Researching
salary and benefit information
-Posting your resume online
-Online interviews
Economic conditions (as discussed in the text under Economic Conditions) that affect
career opportunities are: - ANSWER-Price increases
-interest rates
What is the relationship between interest rates and employment opportunities in home
construction? - ANSWERInterest rates and employment opportunities have inverse
relationship; one increase when the other decreases.
Identify four service industries that according to your textbook are expected to have the
greatest employment potential? - ANSWERInformation technologies
Health care
Financial Services
Social services
Which of the following are the main reasons people start their own businesses? This is
found in the financial planning for life's situation regard entrepreneurial career options. -
ANSWERA desire for greater control over their work environment.
Reduced career opportunities in their field
__mixes traditional business practices with innovation to address social concerns such
as hunger, disease, poverty, and education. - ANSWERSocial entrepreneurs
Which of the following are included in the first three steps to starting your own
business? - ANSWERBecome knowledgeable about your product and services.
Identify potential customers, select an appropriate location, and student competitors.
Consider your financial resources.(Funds and loans)
Planning Questions & Answers
An employee will receive a benefit of a $300 nontaxable , annual premium. The
employee is in the 28% tax bracket. What is the tax-equivalent amount if the benefit?
You can fund this in the discussion of tax-equivalent employee benefits. - ANSWER417
[416/(1-0.28)]=417
A job change is beneficial for a worker if in the current job he or she is experiencing. -
ANSWER-emotional distress caused by the job
-poor performance evaluations
-low motivation level
What are the decision-process guidelines for making a career change? - ANSWER-Ask
if the trade-off of another career is more beneficial.
-Ask if the career change will meet needs and goals.
-Asses the financial cost of changing careers.
-Asses benefit such as health insurance.
Which of the following is recommended by counselors to cope with a job termination? -
ANSWERMaintain normal habits, involve yourself with activities, improve career skills,
look for work, and target your skills to organizations.
If you are not enjoying the work you are doing and you feel distressed about it, then it
may be time for: - ANSWERa new job
The career action plan has four steps. Place them in the correct order. - ANSWER1.
Describe your current situation.
2.Set a specific goal.
3.Identify the time frame for this goal.
4.List actions to be taken to achieve this goal
If individuals' personal situation change, what should they also reassess? -
ANSWERIndividual should added the career they are preparing for.
Why do many people change jobs at some point in their lifetime? - ANSWERPersonal
and social factors will cause people to reassess their work situation.
What information can a newspaper provide about current jobs? - ANSWERWhat jobs
are available
Career trends for an industry
Economic influences on careers.
, The more ___ you have, the greater your earning potential. - ANSWERformal education
The demographic trends will not influence employment opportunities in a country. -
ANSWERFalse
A mentor is an experienced employee who serves as a teacher and counselor to a less-
experienced person in a career field. - ANSWERTrue
What do equal employment rights provide for individuals? - ANSWER-Ways to avoid
discrimination within the employment selection process.
-Ways to ensure that worker's compensation, social security, and unemployment
insurance is provided
Which of the following are useful methods for career planning? - ANSWER-Researching
salary and benefit information
-Posting your resume online
-Online interviews
Economic conditions (as discussed in the text under Economic Conditions) that affect
career opportunities are: - ANSWER-Price increases
-interest rates
What is the relationship between interest rates and employment opportunities in home
construction? - ANSWERInterest rates and employment opportunities have inverse
relationship; one increase when the other decreases.
Identify four service industries that according to your textbook are expected to have the
greatest employment potential? - ANSWERInformation technologies
Health care
Financial Services
Social services
Which of the following are the main reasons people start their own businesses? This is
found in the financial planning for life's situation regard entrepreneurial career options. -
ANSWERA desire for greater control over their work environment.
Reduced career opportunities in their field
__mixes traditional business practices with innovation to address social concerns such
as hunger, disease, poverty, and education. - ANSWERSocial entrepreneurs
Which of the following are included in the first three steps to starting your own
business? - ANSWERBecome knowledgeable about your product and services.
Identify potential customers, select an appropriate location, and student competitors.
Consider your financial resources.(Funds and loans)
