Credit
Saving
Investments
Investment Strategy
Random Non-School Stuff
100
"Down payment" ...what does that word mean??
A down payment is the cash that a buyer pays upfront in a large transaction.
Ex. Bob paid a $50,000 down payment for his $300,000 house. He took out a loan to help pay for the remaining $250,000
100
TRUE or FALSE: Successful budgeting means ensuring that your expenses exceed your income
FALSE: This will put you into debt. Debt is no bueno
100
The goal for investing your money is to...
a) turn it into more money
b) turn it into less money
c) have it do nothing
a) ...making money is a good thing
100
Which of the following can best be categorized as a low-risk, low-reward investment?
a) Money Market Account
b) Tesla Stock
c) S&P 500 Index Fund
d) Bitcoin
a) Money Market Account.... it's kind of like a hybrid between a high-yield savings account and a checking account
100
What's Mr Vasco's name?
Hi my name's Mark
200
Which of the following can be categorized as secured loans?
a) student loan
b) credit card debt
c) mortgage
d) auto loan
(c) Mortgages (home loans) and (d) auto loans are secured loans because if you fail to make your monthly payments then your asset will be taken back
200
Which of the following are commonly features/characteristics of a savings account?
a) you can make unlimited, penalty-free withdrawals
b) you can link your debit card to make purchases
c) you will not earn any interest
None of them :(
200
Fractional ownership of a company is called...
stock
200
What is a risk management strategy that creates a mix of various investments within a portfolio?
Diversification
200
What is the only letter not used in any U.S. State's name?
Q
300
Which of the following are features/characteristics of a credit card?
a) it's use will impact your credit score
b) you can receive perks/rewards
c) you can spend more money than you actually have
d) has fraud protection
All of them :)
300
TRUE or FALSE: According to a recent Bankrate survey, Most Americans have more credit card debt than emergency savings
FALSE: About 33% of Americans have more credit card debt then emergency savings
300
Identify 2 specific differences between index funds and active mutual funds.
Index Funds:
---Lower expense ratios
---Passively managed (a market index is tracked, stocks passively sit without frequent trading)
---Historically earn a higher annual return
Active Mutual Funds
---Higher expense ratios
---Actively managed (an investment professional is trying to pick and choose the best stocks)
---Historically earn a lower annual return
300
40 years from now, I want to be worth at least $5 million. Which investment should I choose and which investment account should I choose?
Investment Choices: Total Stock Market Index Fund, Treasury Bill, Certificate of Deposit
Investment Accounts: Standard Brokerage Account, Roth 401k
Choose the Total Stock Market Index Fund in a Roth 401k
300
Finish the lyrics, "I've been tryna call. I've been on my own for long enough..."
...Maybe you can show me how to love, maybe
-The Weeknd (Blinding Lights, 2020)
400
There are 5 factors that determine your credit score. Name 4 of them.
1) 35% Payment history (pay bill on time)
2) 30% Credit utilization (use way less than your credit limit)
3) 15% Length of credit history (the longer the better)
4) 10% Frequency of new credit/credit checks (don't open too many lines of credit too quickly)
5) 10% Types of credit used (have diverse credit/loans like credit cards, mortgages, student loans)
400
Mr. Vasco moved almost all of his money OUT of his Chase Saving Account because the interest was so pathetically low. How low was it?
.01% :(
400
A short-term government bond is called...
A Treasury Bill (T-Bill)
400
Explain the following features/characteristics of a Traditional IRA...
How much can I invest each year?
When can I withdraw my money (penalty-free)?
Is there a tax benefit? What is it?
You can invest up to $7,000 each year. You can withdraw your money at age 59.5. You will NOT have to pay income tax on money that you invest. You do have to pay tax on your investment earnings.
400
Who's this guy? 
Chester Cheetah
500
The Diners Club launched what is considered the first credit card to help customers pay for meals without cash. When was this? (Guess the right decade)
In 1950 the first credit card was launched. Today there are billions of credit cards in circulation.
500
According to recent Bureau of Labor statistics, what percent of their income does the average American spend on housing? Guess within 5%.
33%
500
In order, what are the top 2 most valuable American companies (based on stock market cap)?
500
If I invest $10,000 per year for 40 years in a fund that earns 10% annual interest, I will end up with $4,868,518.11. However, if the fund I invest in has a 1.5% expense ratio, how much will I have to pay in fees? Guess within $200,000
$1,660,362.59. Instead of ending up with $4,868,518.11, I'll only end up with $3,208,155.52 because I paid waaaay too much in fees.
500
Who are the top 2 most followed Tik Tok accounts?
1) @khaby.lame
2) @charlidamelio