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Pers. Finance QT Tst
Personal Finance Quarter Test-- Vocabulary
| Question | Answer |
|---|---|
| Job Analysis | An evaluation of the positive and negative attributes of a given career choice. |
| Salary | The amount of monthly or annual pay that you will earn for your labor. |
| Benefits | Company-provided supplements to salaries, such as sick pay, vacation time, profit-sharing plans, and health insurance. |
| Promotion | The ability to advance, to accept more responsibilities, and eventually to work your way up to higher positions. |
| Employee Expenses | Include any costs paid by the employee that are not reimbursed by the employer (uniforms or other special clothing and its cleaning, maintenance, and replacement). |
| Work Characteristics | Daily activities at work. |
| Entrepreneur | Someone who organizes, manages, and assumes the risks of a business or enterprise. |
| Upgrading | Advancing to a higher level of skill to increase your usefulness to an employer. |
| Retraining | Involves learning new and different skills so that an employee can retain the same level of employability. |
| Advanced Degrees | Specialized, intensive programs that prepare students for higher level work responsibilities with more challenges and a higher pay. |
| Placement Center | Offers advice and counseling to help you determine a career direction. |
| Self-assessment Inventory | Lists your strong and weak points and gives you an idea of how to prepare for a career. |
| Networks | Informal groups of people with common interests who interact for mutual assistance. |
| Identity | A sense of who a person is. |
| Lifestyle | The way people choose to live their lives, based on the values they have chosen. |
| Aptitude | Natural physical ability or mental ability that allows you to do certain tasks well. |
| Interests | The things you like to do. |
| Personality | The many individual qualities that make you unique. |
| Goal | A desired end toward which efforts are directed. |
| Experience | The knowledge and skills acquired from working in a career field. |
| Contact | Someone you know, such as relatives, friends, members of groups to which you belong, and former employers. |
| Work History | A record of the jobs you have held and how long you stayed with each employer. |
| Application Letter (Cover Letter) | Introduces you to the potential employer and gives you a chance to "sell" your qualifications. |
| Return Address | The first thing to appear at the top of the letter. |
| Letter Address (Inside Address) | Contains the name of the person or company to whom you are writing. |
| Salutation | The greeting that begins your letter. |
| Body | The message section of a letter. |
| Complimentary Close | A courteous phrase used to end a letter. |
| Resume (Personal Data Sheet) | A biographical summary, professional profile, or vita. It describes your work experience, education, abilities, interests, and other information that may be of interest to an employer. |
| References | People who have known you for at least one year and can provide information about your skills, character, and achievements. |
| Scannable Resume | A resume that has been designed for easy reading by a scanner and contains key words from the applicant's career field. |
| Reference Letter | A statement attesting to your character, abilities, and experience, written by someone who can be relied upon to give a sincere report. |
| Employment Application (Job Application) | A form you complete when you apply for a job opening. |
| Job Interview | Face-to-face meeting with a potential employer to discuss your job qualifications. |
| Thank-you Letter | A reminder to the employer after an interview thanking him/her for their time and reminding them of your interest in the job you were interviewed for. |
| Form W-4 | Known as an Employee's Withholding Allowance Certificate; determines the amount your employer will withhold from your paycheck for income taxes. |
| Allowances | Reduce the amount of tax withheld from your paycheck. (The more allowances you claim, the less tax you will have withheld). |
| Exempt Status | A status that applies only to people who will not earn enough that year to owe any federal income tax. |
| Minors | People under the age of a legal adulthood. |
| Form W-2 | A summary of the income you earned that year and all amounts the employer withheld for taxes. |
| Social Security Act of 1935 | Established a national social insurance program that provides federal aid for the elderly and for disabled workers. |
| Unemployment Insurance | Provides benefits to workers who lose their jobs through no fault of their own. |
| Fair Labor Standards Act of 1938 | Establishes a min. wage. |
| Minimum Wage | The legally established lower limit on wages employers may pay. |
| Workers' Compensation | An insurance program that pays benefits to workers and their families for injury, illness, or death that occurs as a result of the job. |
| Family and Medical Leave Act of 1993 | Allows employees to take up to 12 weeks of unpaid leave in a 12-month period for certain medical and family situations. |
| Equal Pay Act | Prohibits unequal pay for men and women doing similar work. |
| Civil Rights Act of 1964 | Prohibits discrimination in hiring, training, and promotion on the basis of race, color, gender, religion, or national origin. |