Quiz ShowFinancial Literacy

Chapter 1 Quiz Review

a gift of money or other aid awarded to a student to help pay for education

Scholarship

the expense paid by students for the instruction at a school

tuition

a loan on which interest is not charged until the student graduates

subsidized student loan

a set of moral values that people consider acceptable; the study of what is right versus wrong

ethics

money given by government or school to pay for educational expenses that does not have to be repaid

grant

any money you receive from an outside source to help pay for education

financial aid

contact with a prospective employer after the interview but before a person is hired for the opening

follow-up

the unique skills and abilities that you bring to the job market

skill set

nontechnical skills needed by most workers for success on the job

soft skills

people who have known you and can provide information about your skills, character, and achievements

references

a summary of your work experience, education, skills, and interests that qualify you for a job opening

resume

the job openings that are available when you are ready to go to work

job market

a face-to-face meeting with a potential employer to discuss a job opening

job interview

spending time observing a worker in a type of job that interests you

job shadowing

a principle that reflects the worth you place on an idea or action

value

TRUE or FALSE?TRUE or FALSE?

supply and demand have an inverse relationship to one another (when demand is high, supply is typically low and vice versa)

TRUE or FALSE?TRUE or FALSE?

Price usually follows supply (i.e. when supply is high then price is high and vice versa)

TRUE or FALSE?TRUE or FALSE?

In a recession, people should save even more of their money

references

soft skills

hard skills

financial aid

grant

federally gifted money for education you do not have to repay

examples: CPR, plumbing repair, performing surgery, accounting

People who vouch for you – put on your resume

examples: communication, leadership, computers,

organization,

ANY outside source of funding for your education

Match the terms with the descriptions:

To best stimulate the economy, should you save your money in a recession or recovery period?

save in a recovery period

If everyone stops spending their money in a recession period, the recession gets deeper and a ripple effect happens such as jobs are lost. It is best to spend some of your extra money in a recession and wait until recovery to save a lot

An advantage to using social networking for job searching is :

• rapid response • up to the minute information• Wide range of sources

What is a disadvantage of using Social Networking ?Your prospective employer can

search for you and find out more about you

If you post negative comments, this could damage your job prospects as well as your

relationshipsDO NOT:

complain criticize swear brag