Unit 1
Unit 2
Unit 3
Unit 4
Formulas
100
This is the root of all evil.
What is the love of money?
100
This is the speed and ease of converting an asset to money.
What is liquidity?
100
A lender can legally discriminate in granting credit based on this.
What is Credit History/Score?
100
This is a deposit that the person puts down so that the seller does not sell the property before a contract can be made.
What is Earnest money?
100
This formula calculates when interest is doubled.
What is 72 / Interest Rate?
200
This verse says "The rich rule over the poor and the borrow is slave to the lender"
What is Proverbs 22:7?
200
This type of check signifies the bank guaranteeing that you have the money.
What is certified check?
200
A constitutionally guaranteed right that permits you to ask a court to find you unable to pay your debts.
What is Bankruptcy?
200
This must be paid when down payment is less than 20% of total purchase.
What is Private Mortgage Insurance (PMI)?
200
Principal x Rate x Time
What is the simple interest formula?
300
This is the steady rise of prices; measured by this. (two answers)
What is inflation and GDP?
300
This is the two most useful financial statements.
What is balance sheet and cash flow statement?
300
These are the costs of car leasing.Security deposit, acquisition fee, and disposition charge
What is security deposit, acquisition fee, and disposition charge?
300
These are the costs of renting.
What is first month’s rent, security deposit, and damage deposit.
300
Profit / Original investment
What is the ROI (Return on Investment) formula?
400
This is the preferred stage of the cycle.
What is Expansion?
400
This is one of the reasons to reconcile your bank account frequently.
What is bank error?
400
This requires collateral or a cosigner.
What is a Secured Loan?
400
This is an event that causes loss and this is a situation in which a peril is possible. (two answers)
What is Peril and Hazard?
400
This formula calculates excess miles charged.
What is Miles Allowed – Total Miles x Excess Charge?
500
This states that as prices increase, demand decreases (vice versa).
What is the law of demand?
500
This is how you calculate net worth.
What is Asset - Liabilities?
500
This has one vendor for the purchase for one asset, set interest rate and repayment schedule
What is Installment Credit?
500
This is the three factors that affect the mortgage payment.
What is Amount borrowed, interest rate, and length of loan?
500
Gross income + business income + interest and dividends.
What is AGI formula? (Adjusted Gross Income)
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