Paystub
What is the longest running American animated series/sitcom?
The Simpsons is the longest running American animated series, and American sitcom
What is a checking account?
A spend account used for only spending
The third planet from the sun
Earth
What is Direct Deposit
A pay method that allows the employer to deposit a paycheck directly into your account
Gross pay
What you EARN - Pre tax
How does a bank use your money?
By loaning it to other people and generating income from interest rates on the loans
What is a savings account?
An account that generates interest and is used as an emergency fund or to make big purchases
What is unique about a boxer style engine?
The pistons fire horizontal instead of vertical
According to our notes, this is the most common method of paying an employee
Paycheck
Net Pay
Your take home pay (post tax)
Free Space
Whoever chose this gets 300 points!
What is a Certificate of Deposit?
A very safe savings account that locks your money for a specified amount of time and gains interest.
This comet passes Earth every 75 years
Halley's Comet
What is an MMA?
A Money Market Account and gains more interest than the average Checking/Savings account but has more risk as well
Opportunity Cost
The next best thing you missed out on when making your decision.
Who is responsible for ensuring all information on a paystub/paycheck is correct?
You!
Which is more important on a check, the written amount or the numerical amount?
The written amount supersedes the numerical amount
Harry Potter and the Sorcerer's Stone was originally called?
Harry Potter and the Philosopher's Stone
Briefly explain the importance of wants
Wants are not needed for survival but some wants are needed for life fulfillment
FICA
Federal Insurance Contribution Act
What is the FDIC? What does it do?
Federal Deposit Insurance Corporation. It insures our money up to $250,000
Explain the difference between and Online Savings account and a traditional savings account. BE VERY SPEIFIC
Traditional is through a brick and mortar bank and can be accessed online. Has very low interest rate gains
Online is only accessible online and has a higher interest rate
What is the literal and figurative meaning of the Latin phase "Sub Rosa"
under the rose/to meet in secret
What does it mean to diversify your account?
Invest in many different types of stock/investments to reduce risk in case of a crash
Outstanding Check
A check that has been written but not yet deposited