Budgets/Taxes
Things you own
what are assets?
Taxes levied by local governments on the assessed value of real estate.
What are property taxes?
insurance for a specified amount and set period of time.
What is term life insurance?
The behavior of investors in the market, reflected in the price volatility of a security.
What is Market Risk?
Arrangement in which employees participate in the company's earnings.
What is a profit-sharing plan?
What you owe
What are liabilities?
Item of value used to secure the principal portion of a loan.
What is collateral?
Permanent insurance with a cash value.
What is whole life insurance?
Placing money in some medium such as stocks or bonds with the expectation of future benefit.
What is investing?
A document that legally modifies a will without revoking it.
What is a codicil?
Money spent on living costs and to pay taxes, purchase assets, or repay debt.
What are expenses?
FDIC and NCUA insurance.
What are two types of deposit insurance?
State-run public assistance health insurance benefit.
What is medicaid?
Financial service that invests money for shareholders in a diversified portfolio of securities.
What is a Mutual Fund?
A document that states the treatments a person wants if becoming terminally ill.
What is a living will?
The first step of the Financial planning process.
What is, "defining financial goals?"
Edmunds and Kelley Blue Book websites.
What are two sources to research the value of a car?
Straight term and decreasing term insurance.
What are 2 types of term life insurance?
Stock book value, net profit margin, earnings per share, and price/earnings ratio.
What are key stock performance measures?
Requirements of mental capacity, freedom of choice, and proper execution.
What are the requirements for making a will?
Income, expense, and surplus or deficit section.
What are the 3 parts of the cash budget?
Character, capacity, collateral, capital, and condition.
what are the 5 C's of credit?
Type of structure, credit score, and home location.
What are 3 factors affecting the cost of home insurance?
Common Stock, bonds, mutual funds, real estate, and preferred and convertibles.
What are different ways to invest?
Working full-time for 10 years, or 40 quarters.
What are the qualifications to receive Social Security?