| A | B |
|---|
| The Internal Revenue Service (IRS) is the federal government agency responsible for: | Tax collection and tax law enforcement |
| What is the difference between gross pay and net pay? | Net pay describes your pay after deductions; gross pay is before. |
| Sales tax and excise tax are both taxes on: | Consumption |
| what are major considerations when it comes to selecting your career? | 1.What you are naturally good at; 2. Your Interests; 3. What you are passionate about |
| The Characteristice of and effective personal goal is | Measurable and specific |
| True or False? Goal Setting is: shared with the people closest to you | True |
| True or False? Goal Setting is: goals that should have time limits | True |
| True or False? Goal Setting is: Written down once and put away only to check them after a year | False |
| True or False? Goal Setting is: made to be challenging and attainable | True |
| 7) When it comes to mentoring, you should: | 1. Follow through and act on what you've learned; 2. choosen wisely; 3. Continue the mentoring cycle by one day becoming a mentor yourself |
| When applying for a job, you should: | 1. Follow up with the employer; 2. Present yourself well; 3. Provide a resume and cover letter |
| During your first interview with a company, you should? | 1. Be personable and try to connect with the interviewer; 2. Show interest and be enthusiastice; 3. Bring an extra copy of your resume |
| The governemnt relies on taxes to do what? | pay for services such as roads, education and social services |
| The day that income tax filings are due in the United States: | April 15 |
| When a company hires you, you will fill out a form. The information on this form is the basis for determining how much income tax should be withheld from your paycheck. | W-4 Form |
| This tax pays for benefits that workers and families receive for either Social Security or Medicare. | Federal Insurance Contribution Act (FICA) |
| Income generated by selling an investment at a higher price than you paid for it: | Portfolio income |
| True or False? Three taxes are deducted from your paycheck: federal income tax, state income tax (if applicable) and FICA. | True |
| True or False? Not all types of income are taxed; while earned income and passive income are taxed, portfolio income is not taxed. | False |
| True or False? The primary taxes on consumption are sales tax and excise tax. | True |
| True or False? Taxes on wealth and property include property tax, taxes on inheritance, estate taxes and gift taxes. | True |
| True or False? The amount of money a profession brings should be your first priority in selecting your career path. | False |
| True or False? Since the job market constantly changes, odds are that you will work in more than one career field in your lifetime. | True |
| True or False? People who fall under the ʺStabilizingʺ characteristics in the DISC Profile are likely to be calm and dislike conflict. | True |
| True or False? Even though your knowledge and work experience will change throughout your life, youʹll never outgrow who you are. | True |
| True or False? You should only make and focus on one goal at a time. | False |
| True or False? It is expected that young adults will achieve the same standard of living as their parents shortly after graduating from college. | False |
| True or False? Early work experiences prior to your career job really have no benefit other than providing a small income. | False |
| True or False? As you acquire more education and work experience, your income and choice of jobs should rise as well. | True |
| True or False? Without contentment, your whole life will just be jumping from one thing to another, always hoping that the next thing will be the thing that will make you happy. | True |
| True or False? After an interview, you should be patient and wait for the employer to contact you so that you donʹt appear overly eager for the position. | False |
| Pick One: Any income that is generated by working (passive income, earned income) | earned Income |
| Pick One: Taxes paid out by anyone who earns an income (estate taxes, income taxes) | Income taxes |
| Pick One: The process by which we ʺmarketʺ ourselves to others by highlighting personal strengths, interests, unique qualities and identifying goals (personal branding, personal selling) | Personal branding |
| Pick One: A brief account of oneʹs professional or work experience and qualifications, often submitted with an employment application (contact letter, resume) | Resume |
| Pick One: Tax on goods and services that goes to your state or local government (gift tax, sales tax) | sales tax |
| Pick One: Taxes paid by anyone who owns property such as land, a home or commercial real estate (property taxes, estate taxes) | property taxes |
| Pick One: A federal insurance program funded by taxpayer dollars that provides benefits to people who are retired, unemployed or disabled (withholdings, Social Security) | Social Security |
| Pick One: The amount of income left after taxes have been deducted (gross pay, net pay) | net pay |
| Pick One: This tax is the main source of revenue for local governments (excise tax, property tax) | property tax |
| Pick One: Money earned on a regular basis with little or no effort required to maintain it, i.e., rental income from real estate (portfolio income, passive income) | passive income |
