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Personal Finance Literacy Exam 5
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Personal Finance Literacy Exam 5
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25 Questions

1. For a job seeker to find the most satisfactory job, s/he needs to
2. Which of the following is an additional benefit that an employer may choose to offer its employees to attract top talent and encourage high performance:
3. An existing business should update its business plan when it is
4. Which of the following should you do when preparing your letter of application:
5. Financial planning is important because it can help you
6. Brian recently got his first part-time job as a food bagger at a local grocery store. He needs a safe place to store his income that allows him to withdraw money easily and frequently. Brian should consider opening a(n) __________ account.
7. What do the numbers listed in a stock table's 52-week high and low column tell you?
8. Which of the following is the result of both parties using the collaborative negotiation style during a negotiation:
9. If Danita invests $6,000 at a simple annual interest rate of 5%, the future value of her investment at the end of a five-year period will be
10. Regular credit accounts are sometimes called open accounts because they allow
11. Carmen has 8% of her weekly paycheck placed in an employer-sponsored fund that she can access later in her life, when she is no longer working. Carmen is planning for her
12. Christine is buying a new computer. If she's making her decision logically, which of the following is true:
13. Erin plans to use the income she earns from her part-time job to attend college part-time. So far, Erin has saved $2,000 to use for a tuition bill of $1,900 in a few weeks. Unfortunately, her car needs repairs costing $1,000. Without a car, Erin won't be able to travel to work, causing her to lose $500 in wages each week. Which of the following solutions would help Erin make the best use of her resources:
14. What is the first step in completing a job application?
15. Which of the following is a disadvantage of using cash as a form of financial exchange:
16. Incorrect information on an individual's credit report may hinder his/her ability to
17. Connor thinks that he may be interested in pursuing a career as an insurance underwriter. He accessed a government website, which provided him with information about an insurance underwriter's educational requirements, typical job responsibilities, salary ranges, and
18. Some occupations require that businesspeople participate in professional development activities in order to maintain their
19. When writing a letter of application for a sales position, it is important to address it to the
20. Investing involves using money to _________, while saving involves putting money away for __________ use.
21. Who purchases workers' compensation insurance?
22. Patrick wants to keep a certain amount of his money in a safe place in which he can earn interest on his savings, and also be able to withdraw his funds without experiencing sizable financial penalties. In what type of financial institution should Patrick consider placing his money?
23. One reason that the balance on your bank statement would be higher than your checkbook register would be that
24. One benefit of loan products is that they allow individuals to pay for goods and services when they need them. One downside of loan products is that
25. Limited resources are those that are