AnswersCPS Online Personal Finance fall – 3-2027Careers, Salaries, and Lifetime Income

Careers, Salaries, and Lifetime Income — Unit test Answers

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What is one difference between a vocational school and on-the-job training?

A
A vocational school degree takes one year to earn. On-the-job training takes two or more years.
A
A vocational school degree takes weeks or months to earn. On-the-job training takes two years or fewer.
A
A vocational school is usually paid for by the worker. On-the-job training is usually paid for by the employer.
A
A vocational school is usually paid for by the employer. On-the-job training is usually paid for by the worker.
2
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This table compares the requirements for a career as an athletic trainer or an air traffic controller. A student who is interested in becoming an air traffic controller will make

Question illustration
A
more money than an athletic trainer but will have a harder time finding a job.
B
more money than an athletic trainer and will have an easier time finding a job.
C
less money than an athletic trainer but will have an easier time finding a job.
D
less money than an athletic trainer and will have a harder time finding a job.
3

What is the job outlook for a US postal worker?

T
The career is growing and will provide more opportunities over time.
T
The career is growing and will provide fewer opportunities over time.
T
The career is shrinking and will provide more opportunities over time.
T
The career is shrinking and will provide fewer opportunities over time.
4

Which describes a set amount of pay received by a worker over the course of a year?

t
tuition
e
expense
s
salary
h
hourly wage
5

This year, the annual tuition at a public four-year university is $5,290. Next year when Jarrod attends his first year, the tuition is expected to increase 4.5%. Jarrod has 1 year to save the amount of money equal to the tuition for his first year. What is the approximate minimum amount Jarrod should save monthly?

A
$441
B
$461
C
$553
D
$639
6

Alphonse is attending college next year. He received this offer from a university. His parents told him they would pay for his room and board if he lives at home instead of in the dorms. He would only need to pay $2,000 for his car and insurance if he lives at home. Financial Analysis for UniversityCosts per YearFinancial Aid Package per YearTuition & FeesScholarships & Grants$10,500$4,000Room & BoardWork-Study$11,500$2,000Which statements about the offer are true? Check all that apply.

A
The total cost per year is $22,000 if he lives in the dorm.
B
He would save $9,500 per year if he lives at home.
C
He would save $11,500 per year if he lives at home.
D
He has $6,500 in expenses that are not covered by financial aid if he lives at home.
E
He has $4,500 in expenses that are not covered by financial aid if he lives at home.
F
He will need to repay the $24,000 in scholarships, grants, and work-study money he receives during the four years of college.
7

Yasmine plans to attend a four-year public university. She expects she will need to contribute $9,000 annually to her education. Which savings plan will help Yasmine save enough money to pay for one year of school, regardless of whether or not interest is earned on her savings?

A
$600 per month for 1 year
B
$350 per month for 2 years
C
$225 per month for 3 years
D
$200 per month for 4 years
8

Richard’s annual college expenses are expected to total $17,745. He will receive $5,320 in grants. How much will Richard need to contribute to his annual college expenses?

A
$11,425
B
$11,465
C
$12,425
D
$12,465

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