A practice by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium.
What is insurance?
100
Investing in different places with different levels of risk and return.
What is diversification?
100
Lending money to a company and in return you receive debt; but the company then pays it back with interest.
What is a bond?
100
Lending money to a city.
What is municipal bonds?
100
Your pay BEFORE your employer takes some away.
What is a gross pay?
200
The monthly pay for insurance.
What is premium?
200
When a landlord kicks you out of the apartment.
What is eviction?
200
You buy a part of the company's profit and the company. ( Hint: Investors=Shareholders.)
What are stocks?
200
Something of value the lender takes in case the borrower defaults on a loan.
What is a collateral?
200
Government that collects taxes.
What is Internal Revenue Service (IRS)?
300
Males ages 16-25.
Who is the riskiest group?
300
How easy or hard it is to turn that asset into cash.
What is liquidity?
300
A loan from the government for financial need students to go to college and while they are in college the government pays their interest for them.
What is a subsidized loan?
300
The three types of financial institutions.
What are retail banks, credit unions, and online banks?
300
Money taken out of your paycheck for your future.
What is deductions?
400
An agreement between an insurer and an insured.
What is a term?
400
A neutral third party who handles all the money and paperwork problems.
What is an escrow?
400
A quick way to estimate how long it will take money to double. (Hint: 72/6=12 years to double.)
What is Rule of 72?
400
How often the bank pays or charges interest.
What is compounding frequency?
400
The money your employer pulls out from your paycheck to pay for taxes.
What is withholding?
500
These 3 are types of insurance.
What is auto, vision, medical, dental, life, business, disability, homeowner's, or renter's insurance?
500
FDIC stands for this.
What is Federal Deposit Insurance Corporation?
500
This bank account has a high interest rate depending on the amount of time you keep your money in there, but it is very illiquid and you must pay a fee if you withdrawing your money early.
What is certificate of deposit (CD)?
500
One of the Richest Man in Babylon's advices.
What is learn to live upon less than you earn, seek advice from those who are knowledgeable, make your wealth work for you, or a part of all I earn is mine to keep?