Question 1

Which of the following is an opportunity to contact several firms in a short time span? (Hint: It is often held at local universities or convention centers.)

Accepted Answer

A career fair is an event where multiple employers set up booths and recruit candidates. It provides an opportunity to meet with and learn about several firms in a short period of time.

Question 2

Ned Turner has done some research and has found that the population in the U.S. is aging which means there will be an increased need for health care professionals in the future. This is an example of __________________ influencing jobs in the future.

Accepted Answer

The aging population is a demographic trend that is expected to impact the demand for health care professionals in the future.

Question 3

Kyle Burroughs has purchased a suit and has interviewed with three companies through the career placement center at his university. He was surprised by some of the questions asked and does not feel he answered them well. He has developed some answers that he feels are better answers and better reflects his abilities and aptitudes. Which step in the career planning process has Kyle completed?

Accepted Answer

Kyle has completed the step of interviewing for specific positions and assessing his performance. He has identified areas where he feels he could improve and has developed better answers to the questions he struggled with.

Question 4

Jennifer Ryan wants to gain some employment experience so when she is ready to start a career she has something to offer a company. She has decided to work 20 hours a week for a local accounting firm answering the phone and assisting the partners in completing tax returns. Which of the following employment experience strategies is she pursuing?

Accepted Answer

Jennifer is pursuing part-time employment by working 20 hours a week for a local accounting firm. This will give her practical experience in the accounting field and provide her with valuable skills for her future career.

Question 5

Which of the following is the process of making and using contacts in the business world for obtaining and updating career information and job possibilities?

Accepted Answer

Networking refers to the process of building professional relationships in order to obtain new career opportunities and access to valuable career information. It involves making and using contacts in the business world to expand one's network and increase the possibility of finding job possibilities. Internships, career fairs, cover letters, and financial planning may all be part of a job search strategy, but they do not encompass the process of networking.

Question 6

Which of the following is the point at which retirement contributions made on your behalf by the company belong to you even if you no longer work for the company?

Accepted Answer

Vesting is the point at which retirement contributions made on your behalf by the company belong to you even if you no longer work for the company. Before vesting, the contributions made by the company are not yet fully yours and may be forfeited if you leave the company before vesting. Therefore, vesting is an important consideration when choosing an employer-sponsored retirement plan.

Question 7

Billy Freniere has gone to the career placement center at his university. He has taken both an interests test and a personality test and has found careers where his interests and personality are well suited. Which step in the career planning process has Billy completed?

Accepted Answer

Billy has completed the step of assessing his personal goals and abilities by taking the interests and personality tests and finding careers that suit him well.

Question 8

Tara Guest wants to gain some needed experience so when she is ready to start a career she has something to offer a company. She has decided to help the Edmond Historical Society present programs to local school children. Which of the following employment experience strategies is she pursuing?

Accepted Answer

Tara is pursuing volunteer work, as she is not being paid for her contributions to the Edmond Historical Society. This valuable experience will allow her to develop skills and make connections in her field of interest, making her a stronger candidate for future employment opportunities.

Question 9

Lori Burroughs wants to gain some needed experience so when she is ready to start a career she has something to offer a company. She has talked to the career placement center at her university. They tell her she can get a job with a local company for the summer and earn college credit while working. Which of the following employment strategies is she pursuing?

Accepted Answer

The scenario describes Lori Burroughs wanting to gain experience and earn college credit while working for a local company over the summer. This best describes an internship, as it is a structured program that provides practical work experience related to a student's field of study, often for college credit. Part-time employment and volunteer work do not necessarily offer the structured learning environment of an internship. Campus projects are typically academic or research-focused, and cooperative education programs are longer-term programs that alternate periods of study with paid work experience.

Question 10

Jeremy Irons has done some research and has discovered that the states with the largest population growth are Colorado and Arizona. Based on his findings, Jeremy believes these states will experience greater job growth as a result. This is an example of _____ influencing jobs in the future.

Accepted Answer

Jeremy's research focused on population growth in specific geographic regions, which indicates a trend in how people are moving and where they are choosing to live. This geographic trend is likely to have an impact on job growth in those regions, as businesses and industries may follow the population to those areas.

Question 11

Which of the following is sent to a company to indicate your interest in a position and to obtain an interview? (Hint: It is generally accompanied by your resume.)

Accepted Answer

A cover letter is typically sent to a company to express your interest in a position and request an interview. It is usually accompanied by your resume, but not necessarily by other documents such as a list of references, college transcript, or diploma. A recommendation letter may be requested later in the hiring process but is not typically sent with the initial application.

Question 12

_________ is a benefit on which you pay no taxes.

Accepted Answer

A tax-exempt benefit is a benefit on which you pay no taxes.

Question 13

Which of the following is a benefit on which you pay taxes at some future date?

Accepted Answer

Tax-deferred benefits are those on which taxes are not paid until a later date, usually at the time of withdrawal or distribution. Examples of tax-deferred benefits include 401(k) plans, traditional IRAs, and annuities.

Question 14

Which one of the following would likely lead to the most added income over an individual's working career?

Accepted Answer

Professional or doctorate degrees are typically the highest level of education and often lead to the highest-paying careers, such as doctors or lawyers. These careers tend to have high demand and offer substantial salaries, leading to the most added income over an individual's working career.

Question 15

Austin Guess has written his resume and had it checked by his career placement center for errors. He plans on sending it to three companies he has identified as having job openings. Which step in the career planning process is Austin completing?

Accepted Answer

Austin is developing a resume and cover letter to apply for specific positions. This is the third step in the career planning process. The first two steps involve assessing and researching personal goals and abilities and evaluating the employment market to identify specific employment opportunities. The remaining steps, interviewing for specific positions and assessing interview performance and evaluating financial and other factors of positions offered, come later in the process.

Question 16

Jason Liang has gotten three job offers. He is now looking at the benefits packages of all three to see what he likes and doesn't like. Which step in the career planning process is Jason completing?

Accepted Answer

Jason is evaluating the benefits packages offered by each job, which falls under the step of evaluating financial and other factors of positions offered.

Question 17

Blake Edwards has done some research and has discovered that economists believe interest rates will rise significantly over the next two years. Blake believes that this will lead to fewer homes being sold and fewer jobs in the banking and mortgage industries. This is an example of __________________ influencing jobs in the future.

Accepted Answer

The scenario describes the influence of economic conditions, specifically rising interest rates, on jobs in the banking and mortgage industries.

Question 18

Lisa Trotter wants to gain some needed experience so when she is ready to start a career she has something to offer a company. She has decided to help with the homecoming parade for the University of Central Oklahoma where she goes to school full-time. Which of the following employment strategies is she pursuing?

Accepted Answer

The answer of Lisa Trotter wants to gain some needed...

Question 19

Brock Trotter has gone to monster.com as well as his local newspaper and has found five job possibilities that he feels fit his abilities and interests. Which step in the career planning process has Brock completed?

Accepted Answer

Brock has evaluated the employment market to identify specific employment opportunities by looking at monster.com and his local newspaper for job possibilities.

Question 20

Which of the following would be a competency commonly associated with successful people?

Accepted Answer

All of these competencies are commonly associated with successful people. Being able to work well with others, having a desire for excellence, being able to solve problems creatively in team settings, and having well-developed communication skills are all important traits for achieving success in various fields.

Quiz 2: Financial Aspects of Career Planning