AnswersCAREER EXPLORATION A LABFinance Workplaces and Tasks

Finance Workplaces and Tasks — Cumulative exam Answers

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1
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Which task do all finance careers have in common, and which task is designed mainly for insurance careers?

A
All finance careers review budgets, and insurance careers help customers complete transactions.
B
All finance careers calculate taxes owed, and insurance careers handle money and analyze credit reports.
C
All finance careers advise customers on finances, and insurance careers handle risk management.
D
All finance careers develop investment strategies, and insurance careers sell financial products.
2
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Which Finance career pathway includes helping people create and manage budgets and calculate taxes?

A
Business Financial Management
B
Banking Services
C
Financial and Investment Planning
D
Insurance Services
3

In which career is an employee least likely to work for a private company?

A
Insurance Sales
B
Personal Financial Advising
C
Investment Fund Management
D
Tax Preparation
5

Which employers include not only private companies and nonprofit organizations, but also hospitals, department stores, and car manufacturers?

A
banking services
B
insurance services
C
financial and investment planning
D
business financial management
6

Shirine has been debating between two career pathways in finance. She creates a Venn diagram to compare the two careers. In a Venn diagram, the separate circles contain characteristics unique to each item being compared and the intersection contains characteristics that are common to both items being compared. This is the Venn diagram that Shirine creates:Which accurately labels the titles in Shirine’s diagram?

Question illustration
A
Title 1 should be Investment Career Pathway, and Title 2 should be Banking Career Pathway
B
Title 1 should be Banking Career Pathway, and Title 2 should be Investment Career Pathway
C
Title 1 should be Banking Career Pathway, and Title 2 should be Financial Management Career Pathway
D
Title 1 should be Financial Management Career Pathway, and Title 2 should be Investment Career Pathway
8

What to do most careers in Finance deal with?

A
real estate and education
B
assets and liabilities
C
assets and retail
D
real estate and retail
10

Financeis best defined as

A
the tracking and documenting of money or things that are worth money.
B
the management of money and things that are worth money.
C
an item, such as a car or a house, that is worth money.
D
an amount of money a person or organization owes to another person or organization.
12

Which best compares and contrasts Business Financial Management and Insurance Services?

A
Both jobs require workers to have math skills for calculating risk, while Business Financial Management also requires workers to understand advanced mathematic calculations.
B
Both jobs require workers to have organizational skills, while Business Financial Management also requires workers to have patience with repetitive tasks.
C
Both jobs require workers to understand laws related to their trades, while Insurance Services also sell products fairly to customers.
D
Both jobs require workers to be independent and work alone, while Insurance Services also requires workers to track customer finances and investments.
14

Megan, Uma, and Ricardo all work for the same car insurance company. Megan is a Sales Agent, Uma is an Underwriter, and Ricardo is an Accident Investigator. Which tasks do all three employees perform?

A
selling insurance policies to customers and using math and statistics to judge the level of risk a customer represents
B
using math and statistics to judge the level of risk a customer represents and using computers and other office technology
C
maintaining and organizing customer information and using computers and other office technology
D
gathering, analyzing, and documenting information about incidents and maintaining and organizing customer information
16

Bailey is an Investment Planner. Which skills does she most likely have?

A
knowledge of insurance systems
B
skills in research and critical thinking
C
integrity for selling products
D
patience with repetitive tasks
17

Isaiah is a Financial Quantitative Analyst for a major stock investment company. What does Isaiah do on a daily basis as a part of his job?

A
He researches, analyzes, and summarizes information about fraud.
B
He assesses financial situations using mathematical models.
C
He analyzes tax information using mathematical formulas.
D
He manages the paperwork for buying and selling securities.
18

The four career pathways in Finance are

A
Banking and Related Services, Insurance Services, Retail Sales, and Business Financial Management.
B
Securities Law, Insurance Services, Financial and Investment Planning, and Business Financial Management.
C
Banking and Related Services, Retail Sales, Securities Law, and Business Financial Management.
D
Banking and Related Services, Insurance Services, Financial and Investment Planning, and Business Financial Management.
19

Which careers are a part of the Finance career cluster?

A
Retail Agent, Pet Store Owner, Retail Buyer
B
Lawyer, Paralegal, and Judge
C
Architect, General Contractor, and Site Foreman
D
Fraud Investigator, Financial Analyst, and Treasurer
20

Ruben, Gerald, and Norma all work for the same company. Gerald and Norma both evaluate the company’s financial picture, but Gerald looks at liabilities and Norma looks at expenditures. Both Gerald and Norma make reports for Ruben, who makes the decisions for the company. Which best describes the jobs of the three employees?

A
Ruben is the Risk Management Specialist, Gerald is the Budget Analyst, and Norma is the Treasurer.
B
Ruben is the Treasurer, Gerald is the Risk Management Specialist, and Norma is the Budget Analyst.
C
Ruben is the Treasurer and Gerald and Norma are the Risk Management Specialists.
D
Ruben is the Treasurer and Gerald and Norma are the Budget Analysts.

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