Unit 1
Earn that credit!
Earn that credit!
A task that is done to make money
A plan on how to spend your money
What is a budget
The use of somebody elses money with the intent to pay it back
What is credit
The account that you store money in that you can withdraw on demand is known as what
What is a checking account
What is investing?
The category of risk with no positive outcome
What is pure risk
A snapshot of your qualifications, including your education and work history
What is a resume
An expense that changes each month based on usage
What is a variable expense
A credit card that has collateral is known as
What is a secured credit card
This man created the first central bank of the United States
Who is Alexander Hamilton
A loan without collateral
What is a debenture (Unsecured bond)
This auto insurance coverage covers the damage to your car in a crash
What is collision coverage
The money you make before taxes is called
What is Gross income/Gross pay
This scam involves impersonating a trusted individual the victim knows in order to try to get information out of the victim
What is spearphishing
A private lender that gives illegaly high interest loans
What is a loan shark
The insurance the government provides in the event of a BANK failure
What is FDIC
What are the two ways stocks make you money?
Dividends and capital gains
Which type of risk describes the danger you pose to others
What is liability risk
A fixed annual pay is known as a
When you borrow an item or property with no set time frame
What is renting
What are the 2 biggest factors that influence your credit score
What are payment history (35%) and debt owed (30%),
The ability to get access to your money quickly is known as
What is liquidity
A government bond that is paid off using taxes is known as a
This auto insurance coverage has your back if you hurt somebody else in an accident
What is liability coverage
Which degree requires you to go to college for four years
What is a bachelors degree
The money you need upfront in order to be approved for a loan
What is a down payment
A loan you must pay back in full within a specific amount of time
What is closed end credit
This is the central bank of the United States
What is the federal reserve/the fed
Defensive/noncyclical stocks
Mr. Ricardo is a coward and afraid to get in a car crash. As a result he stops driving places and walks everywhere. What risk management technique is Mr. Ricardo using
Skills that show your ability to effectively interact with people are known as
When you borrow an item or space to live for a set amount of time
What is leasing
Name the 3 major credit bureaus
What are equifax, experian, transunion
An account that denies you access to your money in exchange for a higher interest rate is
What is a Certificate of Deposit (CD)
(regular) Mikayla buys a bunch of tesla stocks and holds on to it for the next 20 years, this is known as
(Honors) This man created the concept of a mutual fund
(Regular) What is buying and holding
(Honors) Who is John Bogle
Which two auto insurance coverages are required in the State of Florida
What is liability and PIP
The tendency to focus on the here and now is known as
What is present bias
Name the 4 key elements to a contract
Acceptance, Consideration, Capacity, Legality
A business that offers high interest loans for items that you pledge as collateral
What is a pawnshop
List 3 different ways you can access your checking account
Atm, P2P transaction (Digital apps), Debit card, Physically going to the bank, Online
These stocks are very cheap, but considered to be a very very risky and volatile investment
What is a penny stock
What is the most common form of disability insurance that employers provide employees known as
What is workers compensation
What are the 3 basic types of taxes we talked about in this unit
Property, Sales, Income
When two different companies provide the same product it is called this
What is an alternative?
The summary of a credit card contract
What is a schumer box
A retirement account where the taxes are paid today so you do not have to pay taxes later
What is a Roth IRA
You invest in this fund to follow a group of stocks and guarantee you do slightly worse than the market
What is an index fund
What are the 3 items covered by homeowners insurance
What are hazard/crime/liability
Which tax form do you fill out in order to submit your tax returns
What is a roach motel?
Mr. Ricardos credit card calculates his interest payment after he pays his bill. This is an example of what method to charge you interest
What is the adjusted balance method
Name the 6 items that you write on a check
Date, Amount in numbers, Amount in words, Signature, Memo (purpose), Recipient
(regular) When is an estate calculated
(honors) Name 3 different index we covered in class
(regular) What is when you die
(honors) What are the NASDAQ, S&P 500, and DOW Jones
The health insurance that covers you in the event of a long term stay at the hospital
What is major medical coverage
List 3 non income factors for getting a job that we talked about in the notes.
Satisfaction, Family, Risk, Independence, location, Availability
The organization that protects consumers from banks and other lenders is known as
What is the CFPB
The 5 cs of credit are a group of traits to determine if you are worth loaning money to. Name all 5 of them
What are Collateral, Character, Capacity, Conditions, Capital
This agency regulates national branches of banks domestically and abroad
What is the OCC
The stage of investing where you make investments on a regular and planned basis
What is systematic investing
Which part of medicare covers a patients medication needs
What is medicare part D