Final Review

A U.s. Department of Labor publication that gives in-depth job descriptions and information in eleven career categories

is…

• Occupational Outlook Handbook

The amount of your monthly or annual pay is called…

• Salary

Sick pay, vacation time, and profit sharing are examples of _______, which you receive in addition to

your income.• Benefits

Informal communication structures that are established for people to

talk to each other and share information are….

• Networks

A person is a(n) _________ when he or she actively seeks new

knowledge, skills, and experiences.

• Life long learner

The things in your life that you consider to be important to you

are called…

• values

A desired end toward which efforts are directed is a(n)….

• goal

A person you know who has inside information about job openings is

called a(n)….

• Contact

Spending a morning or afternoon with a worker in a job that interests you is known as….

• Job shadowing

Public and private _____ help job seekers find a job for which they

are qualified.

• Employment agencies

Many schools have ______ where students attend classes part of the

day and then go to a job that provides supervised field experience.• Cooperative education

The local newspaper contains a list of job openings in the classified

section called _______ads

• Help wanted

A(n) _____goal is one you expect to reach in a few days.

• Short term

The letter that introduces you to a potential employer, explains how

you are qualified for a job, and asks for an interview is a(n)…

• Application letter

A summary of personal information about you—your

education, experience, skills, and references—is called a(n)…

• resume

A written statement from someone who knows you and can report

about your character and abilities is a(n)…

• Reference letter

A letter written to express appreciation for time spent by an employer and that reminds him or her of your interest and desire in working for a company is a(n)…

• Thank you letter

When you talk with an employer about your qualifications for a job

opening, it is called a(n)…

• Interview

Amounts both required and optional subtracted from gross

pay…

• deductions

When deductions are subtracted from gross pay what is left is

known as…

• Net pay

A group of people working in the same or similar occupations,

organized for the benefit of all, is a(n)…

• Labor union

A type of work schedule that allows employees to choose their

working hours is known as…

• Flextime

When two people share what was originally a full-time position, it is

called______

• Job sharing

Money collected by the government from various sources

is known as…..

• Revenue

A(n) _____tax allows a higher-income person to pay a lower

percentage of income in taxes than a lower-income person.

• regressive

To intentionally fail to pay taxes owed is to commit a serious crime

called….

• Tax evasion

An administrative agency of the federal government that collects

taxes and enforces tax law is the ….

• IRS (Internal Revenue Service)

An examination of tax returns by the IRS is called a(n)….

• Audit

A(n) ______is a banking service in which a customer deposits money and writes checks to withdraw at

his or her convenience.• Checking account

A(n) _____ is a record of checks written and deposits made in a checking account, kept by the

depositor. • Checkbook register

A(n)_____is sent by the bank regularly, listing checks and deposits

processed by the bank, as well as charges and credits to an account.• Bank statement

A(n) _____check is one that has been processed by the bank and

has been subtracted from the depositor’s account.

• Canceled

A(n) ________endorsement, such as “For Deposit Only”, limits the

negotiability of a check.

• restrictive

To write a check when you know there are temporarily not enough funds to cover the check is called

____• Floating a check

The process of matching your checkbook register with the bank

statement is called______

• Reconciliation

Money you have to spend as you wish—after all required taxes and

deductions—is known as…

• Disposable income

A(n)______ is an organized plan whereby you match your expected income with expenses and savings.

• budget

Expenses that remain constant and cannot be easily changed or removed from a budget are

called….• fixed

Expenses that may change according to needs and short-term

goals are called…

• Variable expenses

When income exceeds expenses, the difference is called a(n)….

• Cash surplus