Question 1

Part of the benefit of being involved in a study group is that you can apply the Adult Learning Cycle by speaking and listening to others.

Accepted Answer

A) True 
 B)False

Question 2

Based on what you have read in the chapter, describe yourself as a student both in academics and in managing your financial resources.Provide a goal in your academic life and a financial goal.Explain how you will be your greatest resource for success in your academic and financial goals.Cite at least 6 resources from the chapter you will utilize to reach peak performance in these areas.

Accepted Answer

The answer of Based on what you have read in...

Question 3

If you are not enrolled in college, there is little chance of finding an affordable fitness center.

Accepted Answer

A) True 
 B)False

Question 4

Joel is a nontraditional student returning to school after earning his associates degree a decade ago.In his first semester back at school, he has realized he needs to improve his time management, organization, and note-taking strategies if he wants to get through his bachelor's program with a decent GPA.He has noticed that his input in class seems to be appreciated by some of the younger people just because he has on-the-job knowledge in the industry.When in class, a natural group seems to form around him, which consists of high achievers.Help Joel solve his dilemma based on what you have learned about critical thinking, and collaboration.

Accepted Answer

The answer of Joel is a nontraditional student returning to...

Question 5

Shane is working out his financial plan for college.What is his best option if he wants to be able to concentrate on his studies, finish his program early and keep his debt low?

Accepted Answer

A) Savings and credit cards 
B) Federal loans 
C) A Pell grant and federal loans 
D) Work study and non-governmental loans

Question 6

Under the Americans with Disabilities Act, colleges are legally obligated to provide services and resources for students with disabilities.Accommodations that may be made for students with disabilities include transcribing lectures, extended time for tests, and taking oral tests.

Accepted Answer

A) True 
 B)False

Question 7

Mark is a nontraditional student with a full time job.He does not spend more than he earns, keeps a monthly budget, stays healthy, looks for free opportunities, pays the minimum on his credit card balance, looks for free opportunities to add discretionary spending money in his savings account, and conserves energy or takes public transportation whenever possible.He is on a strong path toward optimal future savings.

Accepted Answer

A) True 
 B)False

Question 8

What medical issue could result in a delay in the registration process?

Accepted Answer

A) alcohol or drug dependency 
B) mental health 
C) vaccinations 
D) annual physical examination

Question 9

Despite their best efforts, Bob and Jamal are not getting along with their roommate Carl.They would like to ask him to transfer to a different room; however, the campus is overcrowded.What should they do?

Accepted Answer

A) They should seek mediation services. 
B) They should identify the problems and address these with Carl. 
C) They should seek legal aid. 
D) They should seek counseling services.

Question 10

Returning students often struggle more with academic work than traditional students

Accepted Answer

A) True 
 B)False

Question 11

If you do not feel comfortable with your academic advisor, you should check to see if you can switch to a different advisor.

Accepted Answer

A) True 
 B)False

Question 12

Jenna is 22 and makes $18,000 per year.She has made some tough tradeoffs and sacrifices to ensure she is spending less than she is earning.She has a few discretionary dollars left each month, which she keeps in her savings account.Her parents have urged her to put some of that discretionary money into a retirement savings plan at work but she feels she'd rather build her savings account for a safety net and will contribute to a retirement savings plan when she is earning a higher salary.Jenna is making a financially wise decision.

Accepted Answer

A) True 
 B)False

Question 13

According to the chapter, the 2009 Credit Card Responsibility and Disclosure Act:

Accepted Answer

A) requires credit cards companies to disclose specific reasons for increasing interest rates. 
B) requires persons under 21 to show independent income or use a co-signer to acquire a credit card. 
C) prohibits credit card companies from charging more than 18% interest. 
D) requires students to disclose expected college loan debt when applying for a credit card.

Question 14

Many schools have implemented "e-lert" systems to contact students via email, phone, or text message for services ranging from academic deadlines and paying bills on time, to notices of class cancellations or safety emergencies.

Accepted Answer

A) True 
 B)False

Question 15

The Consumer Credit Counseling Service (CCCS) provides individuals and families advisement in debt repayment and/or cancellation.

Accepted Answer

A) True 
 B)False

Question 16

Tia began investing $3,000 per year in a tax-deferred retirement plan at age 25 and stopped investing at age 45.At age 35, Sylvia began investing $3,000 per year in the same type of retirement plan and stopped contributing at age 60.Both retirement plans yield a 7% annual return compounded monthly.When both women turn 65, which scenario is more likely?

Accepted Answer

A) Sylvia contributed more money to her retirement savings, therefore her investment will grow more than Tia's. 
B) Since Tia began contributing to her retirement savings plan early, and stopped early, her investment is exposed to greater risk in the market, and is likely to remain stagnant. 
C) The extra 5 years that Sylvia contributed to her retirement plan will yield more money in the near term than the annual return Tia's investment will yield in the long term. 
D) The extra 5 years that Sylvia contributes to her retirement plan will yield less money in the near term than the annual return Tia's investment will yield in the long term.

Question 17

Doug is a student with a learning disability in reading.He has a resourceful attitude and has been assertive in meeting with his instructors to arrange for extended time in his assignments and tests, and to take tests orally.He is still feeling overwhelmed with the responsibilities of college work.He should:

Accepted Answer

A) create a positive mind shift. 
B) meet with his academic advisor and map out a plan for success. 
C) ask for lectures to be transcribed. 
D) network with students in similar situations.

Question 18

Serena and her husband Steve have both taken on a lot of financial debt to earn Bachelor's degrees.They live a pretty comfortable lifestyle, having the money to spend on the extras they enjoy in life.Between the two of them, they earn $160,000 annually, but they also owe $120,000 in student loans.Their monthly student loan payments eat up much of their earnings that would otherwise go into savings, and retirement savings.Serena has been unhappy in her work and wants to go back to school to earn a masters degree in an area that will promise a better job and salary.Apply what you have learned about critical thinking and managing financial resources to offer Serena and Steve sound advice toward increasing their savings and retirement accounts.

Accepted Answer

The answer of Serena and her husband Steve have both...

Question 19

Shelley wants to start a study group.She is observing others in the class to see who may be viable candidates.It is best she focus on:

Accepted Answer

A) responsible and thoughtful behavior. 
B) personality traits. 
C) flexibility. 
D) others' learning styles.

Question 20

Government legislation regarding student loan availability, interest rates and debt forgiveness has been static since 1976.

Accepted Answer

A) True 
 B)False

Exam 4: Maximize Your Resources

Part of the benefit of being involved in a study group is that you can apply the Adult Learning Cycle by speaking and listening to others.

If you are not enrolled in college, there is little chance of finding an affordable fitness center.

Shane is working out his financial plan for college.What is his best option if he wants to be able to concentrate on his studies, finish his program early and keep his debt low?

Under the Americans with Disabilities Act, colleges are legally obligated to provide services and resources for students with disabilities.Accommodations that may be made for students with disabilities include transcribing lectures, extended time for tests, and taking oral tests.

What medical issue could result in a delay in the registration process?

Despite their best efforts, Bob and Jamal are not getting along with their roommate Carl.They would like to ask him to transfer to a different room; however, the campus is overcrowded.What should they do?

Returning students often struggle more with academic work than traditional students

If you do not feel comfortable with your academic advisor, you should check to see if you can switch to a different advisor.

According to the chapter, the 2009 Credit Card Responsibility and Disclosure Act:

Many schools have implemented "e-lert" systems to contact students via email, phone, or text message for services ranging from academic deadlines and paying bills on time, to notices of class cancellations or safety emergencies.

The Consumer Credit Counseling Service (CCCS) provides individuals and families advisement in debt repayment and/or cancellation.

Shelley wants to start a study group.She is observing others in the class to see who may be viable candidates.It is best she focus on:

Government legislation regarding student loan availability, interest rates and debt forgiveness has been static since 1976.