Investment
Describe Blue Chip Stocks
denoting companies or their shares considered to be a reliable investment
Are you required to have health insurance in NJ?
Yes, otherwise you pay a tax penalty
What should you build up first? Investments or Emergency Fund?
Emergency Fund
Which part of the Credit Score is the most important?
Payment History
What is a mutual fund?
Are you required to have auto insurance in NJ?
Yes, Liability.
What is the 50/30/20 Rule?
50% - Needs
30% - Wants
20% - Savings
How often can you obtain a free copy of your credit report?
Once a year.
How many years would it take to double your money at a 9% interest rate?
8 years
Define Life Insurance
insurance that pays out a sum of money either on the death of the insured person or after a set period.
Which number is more important to your Budget? Net Pay or Gross Pay?
Net
Name 2 of the 3 credit bureaus
Equifax, Experian, Transunion
Please name something that you can invest in that is not a Stock or Bond?
Answers may vary...
What is the purpose of Disability Insurance?
provides financial assistance to individuals who become disabled and unable to work. It helps replace a portion of their lost income during the period of disability.
Define what a fixed expense is
A cost that remains the same or changes only annually.
Is it a good or bad thing to open many new credit card accounts?
Bad.
What do the S&P in S&P 500 stand for?
Standard & Poor
What is the average cost of Health Insurance per month?
$477 (I'll accept any answer $400-$500)
Daily Double (You get to eliminate somebody else if you get the question correct)
Which type of companies is the NASDAQ index fund comprised of?
Technology
Can a landlord check your credit score/history to determine your candidacy as a tenant?
Yes.