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Careers, Salaries, and Lifetime Income Answers

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21
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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 should she expect to pay on rent and utilities each year?

A
$1,300
B
$2,400
C
$13,200
D
$15,600
22
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Liam is a computer systems analyst and is looking to change to a company that offers more opportunities for advancement. He has job offers from two companies that look promising. Liam’s Job Offer Comparison Job 1: Seattle, WAJob 2: Silicon Valley, CASalary$78,000$100,000Benefits$4,000 bonuses,health insurance,401K$2,500 bonuses,health insurance,401KAverage Monthly Rent & Utilities$1,350$3,150Which company is a better choice based on annual income after housing and utility costs?

A
Job 2 is a better choice because it will have a salary and benefits worth $20,500 more than job 1.
B
Job 2 is a better choice because the annual income after housing is expected to be $140,300 but job 1 is expected to be $98,200.
C
Job 1 is a better choice because the annual income after housing is $65,800 but that of job 2 is $64,700.
D
Job 1 is a better choice because annual income after benefits and housing will be $109,800 but the annual income for job 2 will be $92,200.
23

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
24

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 should she expect to pay on rent and utilities each year?

A
$1,300
B
$2,400
C
$13,200
D
$15,600
25

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
26

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
27

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
28

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
29

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.
30

Cameron is choosing a career out of high school with no further training. The median salary for this career is $30,000. His friend Mateo is choosing a career that requires a college degree but has a median salary of $55,000. Over 20 years, what will be the difference between their incomes?

A
$25,000
B
$85,000
C
$500,000
D
$1,700,000
31

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

A
gender
B
race
C
birthplace
D
interests
32

Oscar claims that employee benefits have little impact on lifetime income so one should only consider a job with the largest salary. Which statement about his claim is true?

A
He is correct because a larger salary would allow one to save more money for retirement.
B
He is correct because benefits have no monetary value to an employee even though the employer may pay for them.
C
He is incorrect because health insurance reduces medical expenses, freeing up more income for long-term savings such as retirement.
D
He is incorrect because the employer gives the money for benefits directly to the employee so the employee can use the money as he wishes.
33

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
34

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.

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