Answers2026-2027 Personal Finance w Mrs. RoudybushCareers, Salaries, and Lifetime Income

Careers, Salaries, and Lifetime Income Answers

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1
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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
2
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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
3

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.
4

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
5

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.
6

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
7

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.
8

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.
9

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
10

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

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