Chapter 02 – Financial Aspects of Career Planning
52. (p. 71) What is the purpose of a cover letter?
53. (p. 72) The purpose of the development section of a cover letter is to:
54. (p. 75) An interview designed to reduce the number of candidates for a position to a
workable size is a(n) ____________ interview.
Chapter 02 – Financial Aspects of Career Planning
55. (p. 75) The purpose of a screening interview is to:
56. (p. 75) The finalists for a job position are invited for a(n) ____________ interview.
57. (p. 75) The purpose of a selection interview is to:
Chapter 02 – Financial Aspects of Career Planning
58. (p. 43) Which one of the following would likely lead to the most added income over an
individual’s working career?
59. (p. 43) Which of the following would be a competency commonly associated with successful
people?
60. (p. 47) 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.
Chapter 02 – Financial Aspects of Career Planning
61. (p. 47) 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.
62. (p. 47) 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.
Chapter 02 – Financial Aspects of Career Planning
63. (p. 45) 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?
64. (p. 45) 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?
65. (p. 45) 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?
Chapter 02 – Financial Aspects of Career Planning
66. (p. 45) 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?
67. (p. 45) 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?
Chapter 02 – Financial Aspects of Career Planning
68. (p. 49) 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?
69. (p. 49) 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?
Chapter 02 – Financial Aspects of Career Planning
70. (p. 49) 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?
71. (p. 49) 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?
Chapter 02 – Financial Aspects of Career Planning
72. (p. 50) 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?
73. (p. 52) Which of the following is an opportunity to contact several firms in a short time
span? It is often held at local universities or convention centers.
74. (p. 54) Which of the following is sent to a company to indicate your interest in a position
and to obtain an interview? It is generally accompanied by your résumé.
Chapter 02 – Financial Aspects of Career Planning
75. (p. 57) 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?
76. (p. 57) Which of the following is a benefit on which you pay taxes at some future date?
77. (p. 57) is a benefit on which you pay no taxes.
Chapter 02 – Financial Aspects of Career Planning
78. (p. 43) With completion of a bachelor’s degree one can expect to earn _____ in income over
a 40-year period.
79. (p. 46) Caroline lives in City A and earns $50,000 per year. The cost of living index in City
A is .8. She is considering a move to City B which has a cost of living index of .9. How large
a salary will she require in City B to maintain her current standard of living?
80. (p. 50) The term networking refers to:
Chapter 02 – Financial Aspects of Career Planning
81. (p. 55) Which one of the following is not an element of corporate culture?
82. (p. 58) Joseph is eligible for a nontaxable life insurance benefit with an annual premium of
$400 paid entirely by his employer. Assuming Joseph is in a 25% bracket, how much would
he have to earn to pay for this benefit with after-tax dollars?
83. (p. 45) What steps should a person take when planning a career?
Chapter 02 – Financial Aspects of Career Planning
84. (p. 47) What factors affect the availability of employment positions?
85. (p. 50) Discuss the types of information available for use when doing career planning.
Answers will vary
Chapter 02 – Financial Aspects of Career Planning
86. (p. 42-45) Louise Ellis recently has been offered employment in another city. She has been
employed in her current position for four years. What factors should Louise consider when
evaluating this new position?
87. (p. 73-75) What activities are commonly suggested when preparing for a job interview?
Chapter 02 – Financial Aspects of Career Planning
88. (p. 57-58) You are given the choice of $4,000 in extra taxable income per year or a tax-
exempt medical policy. The medical policy costs $300 per month. Your tax rate is 25%.
Considering financial factors only, should you take the cash or the medical policy? Explain
your decision.
89. (p. 60) Suzanne is beginning to think she needs to find a new job. She is happy with her
present salary and job duties, and has a large corner office with a wonderful view of the city.
In spite of this, she dreads going to work each day. Discuss four reasons that may be to blame
for her dissatisfaction at work.