Careers, Salaries, and Lifetime Income Answers…

Caitlin has finished her schooling and training to be a dental hygienist. She has two job offers that she is considering. Caitlin’s Job Offer Comparison Job 1: Albuquerque, NMJob 2: Ann-Arbor, MISalary$54,000$61,000Benefits$2,500 bonuses,health insurance,401KHealth insurance,401KAverage Monthly Rent & Utilities$925$1,300Which job would offer the best annual income considering the cost of living in each locale?

A

Job 2 is a better choice because the annual income after rent and utilities is $59,700 but that of job 1 is $55,575.

B

Job 2 is a better choice because the annual income after rent and utilities is $45,400 but the income for job 1 is $41,900.

C

Job 1 is a better choice because it costs $4,500 less per year to live there.

D

The jobs have equal annual incomes of $45,400 after rent and utilities so Caitlin should take the job in her favorite locale.

2

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Which type of training would be considered vocational training?

A

training to prepare for a career

B

training to improve one’s health

C

training to learn a new hobby

D

training to improve relationships

3

Logan has several job offers in different cities. What should he research to determine how much money he will have to spend as he wishes?

A

cost of living in each location

B

schedule he will be required to work

C

number of libraries, parks, museums, and sporting event locations in each city

D

distance each city is from his family and friends

4

Brenden wants to set aside money for times when he may be without work due to illness or layoffs. Which method would be best?

A

college savings account for his daughters

B

checking account

C

personal savings account

D

home equity line of credit

5

Which aspect could have a positive impact on future salary in a job position?

A

The opportunity for advancement or promotion could result in higher pay.

B

The starting salary is very high, but the job outlook is poor.

C

The position offers more employee benefits than others like it.

D

The career choice requires less post-secondary education so less student loans are needed.

6

Which would be considered part of an employee’s salary?

A

amount of taxes that will be deducted each pay check

B

amount an employee can expect to earn in gratuities from customers

C

amount of money the employee will earn each month

D

amount of matching funds the employer will pay to a retirement account

7

Amy is analyzing a job offer. Amy’s Salary AnalysisAnnual SalaryBenefitsAverage Monthly RentAverage Monthly Utility Costs$48,500401K matched up to $2,500/year,$5,000 in bonuses$1,100$200How much income with benefits can she expect?

A

$43,500

B

$48,500

C

$53,500

D

$56,000

8

Jerome likes to take stuff apart and then rebuild it. He is also good at math but is rather shy. Which career choices might he enjoy? Check all that apply.

A

Engineer: design, plan, or manage a system such as machines, computers, or roads.

B

Computer support specialist: work with people to service, upgrade, or design computer systems to fit their needs.

C

Aircraft inspector: inspect, plan, and oversee repairs on aircraft; may also need to design parts as repair methods that meet standards.

D

Car salesman: sell cars to the police.

E

Factory reproduction manager: check that products meet specifications.

F

Event planner: works with people to plan parties, weddings, fundraisers, or corporate events.

9

Enjoli enjoys science and foreign language classes. She enjoys working with people and volunteers regularly at a local shelter and library. She does not like flying.Which career best matches the factors that influence Enjoli's career decision, such as her interests, values, and personal preferences?

A

doctor in a clinic that serves a low-income population

B

doctor partnering with insurance companies to determine covered procedures

C

doctor in a research facility for a large drug company

D

doctor for a professional sports team

10

Joaquin is offered vocational training that will cost $3,000 but will make him eligible for a promotion. Joaquin is trying to decide whether to get the training or put the money in savings for retirement. Which statement is true?

A

Joaquin should put the money in savings because retirement is expensive and he should have every penny he can.

B

Joaquin should put the money in savings because it will grow quickly with interest that he can use in retirement.

C

Joaquin should take the class because a promotion will mean a larger salary over the long term compared to a single cash advantage.

D

Joaquin should take the class because $3,000 is too small of an amount to bother putting away for retirement.

11

Which represents an employee benefit?

A

wage paid per hour of work

B

health-insurance plan with company-paid premiums

C

schedule with weekends off

D

gratuity given by customers or clients

12

Which statement is an example of post-secondary education?

A

core classes such as math and English that one takes in high school

B

vocational classes such as marketing or computer-aided design that one may take in high school

C

a class in a specific computer application or language that one may take to advance in a career

D

a dance class that one takes after retiring for enrichment and enjoyment

13

Jerome likes to take stuff apart and then rebuild it. He is also good at math but is rather shy. Which career choices might he enjoy? Check all that apply.

A

Engineer: design, plan, or manage a system such as machines, computers, or roads.

B

Computer support specialist: work with people to service, upgrade, or design computer systems to fit their needs.

C

Aircraft inspector: inspect, plan, and oversee repairs on aircraft; may also need to design parts as repair methods that meet standards.

D

Car salesman: sell cars to the police.

E

Factory reproduction manager: check that products meet specifications.

F

Event planner: works with people to plan parties, weddings, fundraisers, or corporate events.

14

Which factor would be a valid influence on a career choice in the United States?

A

gender

B

race

C

birthplace

D

interests

15

Tayesha wants to find more information about a career in architecture. Which resource is most likely to give balanced, accurate information?

A

She should use Facebook advice from friends since they know her best.

B

She should use a personal blog of an architect since it is a person in the industry.

C

She should use the US Bureau of Labor Statistics website since it will cover a wide range of information about the careers around the United States.

D

She should use a fashion magazine article on famous architects since it will have lots of pictures.

16

Caitlin has finished her schooling and training to be a dental hygienist. She has two job offers that she is considering. Caitlin’s Job Offer Comparison Job 1: Albuquerque, NMJob 2: Ann-Arbor, MISalary$54,000$61,000Benefits$2,500 bonuses,health insurance,401KHealth insurance,401KAverage Monthly Rent & Utilities$925$1,300Which job would offer the best annual income considering the cost of living in each locale?

A

Job 2 is a better choice because the annual income after rent and utilities is $59,700 but that of job 1 is $55,575.

B

Job 2 is a better choice because the annual income after rent and utilities is $45,400 but the income for job 1 is $41,900.

C

Job 1 is a better choice because it costs $4,500 less per year to live there.

D

The jobs have equal annual incomes of $45,400 after rent and utilities so Caitlin should take the job in her favorite locale.

17

Joaquin is offered vocational training that will cost $3,000 but will make him eligible for a promotion. Joaquin is trying to decide whether to get the training or put the money in savings for retirement. Which statement is true?

A

Joaquin should put the money in savings because retirement is expensive and he should have every penny he can.

B

Joaquin should put the money in savings because it will grow quickly with interest that he can use in retirement.

C

Joaquin should take the class because a promotion will mean a larger salary over the long term compared to a single cash advantage.

D

Joaquin should take the class because $3,000 is too small of an amount to bother putting away for retirement.

18

Both Phoebe and Connor are trying to maximize their lifetime income. Each has a different plan on how to do this best: Phoebe claims that she wants a career with no college or trade school requirements because she could save the money for retirement rather than spending it on education. She estimates her average yearly salary at $35,000 per year with no post-secondary education requirements.Connor claims post-secondary education will help him get a career with a higher salary and more benefits that he can use in retirement, so the education costs will more than pay for themselves. Connor estimates paying $80,000 for his post-secondary education and an average yearly salary of $60,000 per year after he earns his college degree. Which statement about their claims is correct?

A

Phoebe is correct because a college education is overly expensive and is almost a waste of money.

B

Phoebe is correct because she will not be spending tuition dollars on college while earning $140,000 during the four years it would take to earn an undergraduate degree. College graduates would never be able to make up that difference in earnings.

C

Connor is correct because it is likely that the increased income and better benefits he will earn throughout his career will outweigh the $80,000 and four years he invests in his college education.

D

Connor is correct because a person without a college degree will never be able to support himself.

19

Brenden wants to set aside money for times when he may be without work due to illness or layoffs. Which method would be best?

A

college savings account for his daughters

B

checking account

C

personal savings account

D

home equity line of credit

20

Both Phoebe and Connor are trying to maximize their lifetime income. Each has a different plan on how to do this best: Phoebe claims that she wants a career with no college or trade school requirements because she could save the money for retirement rather than spending it on education. She estimates her average yearly salary at $35,000 per year with no post-secondary education requirements.Connor claims post-secondary education will help him get a career with a higher salary and more benefits that he can use in retirement, so the education costs will more than pay for themselves. Connor estimates paying $80,000 for his post-secondary education and an average yearly salary of $60,000 per year after he earns his college degree. Which statement about their claims is correct?

A

Phoebe is correct because a college education is overly expensive and is almost a waste of money.

B

Phoebe is correct because she will not be spending tuition dollars on college while earning $140,000 during the four years it would take to earn an undergraduate degree. College graduates would never be able to make up that difference in earnings.

C

Connor is correct because it is likely that the increased income and better benefits he will earn throughout his career will outweigh the $80,000 and four years he invests in his college education.

D

Connor is correct because a person without a college degree will never be able to support himself.

Careers, Salaries, and Lifetime Income Answers

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