Banking
A form of payment that electronically pulls funds from your checking account.
What is a debit card?
Savings accounts that have higher interest rates than traditional savings accounts.
What are high yield savings accounts?
What is risk?
Income before taxes.
What is gross income?
The first Ten Amendments to the Constitution.
What is the Bill of Rights?
The primary role of the FDIC.
What is to insure deposits?
The best accounts for saving for retirement.
What are 401(k) or IRA?
The type of investment with the highest risk.
What are individual stocks?
Income after taxes.
What is net income?
The branch of government with a cabinet and departments headed by secretaries.
What is the executive branch?
Hector knows that in two years he will need to purchase a car. He wants to start saving money so that he can purchase the car when the time comes. This is the type of account he should open.
What is a certificate of deposit?
The type of interest that will provide you with the most growth over time.
What is compound interest?
If Chris works as an accountant during the week and tutors on the weekends, the total amount of money he makes is called this.
What is adjusted gross income?
The length of a Senator's term.
A disadvantage of storing your money in a checking account.
What is it will earn no interest?
Having varying degrees of risks across your investments.
What is diversification?
What is a 401(k)?
Tax on inherited items.
What is estate tax?
Name one of the leaders in Congress.
What are Senate Majority/Minority Leader, Speaker of the House, President Pro Tempore, House Majority/Minority Leader?
Alexa keeps forgetting to pay her rent on time each month and is having to pay late fees. In order to stop forgetting, Alexa sets up this type of payment.
What is an automatic withdrawal?
The initial amount of money deposited into a savings account.
What is the principal amount?
Investing $17500 and receiving a $700 dollar return is a good or a bad investment.
What is a good investment?
Tax form independent contractors use.
What is a 1099?
Amendment procedure.
What is proposal passes 2/3 of both Houses of Congress, and 3/4 of the state legislatures?