Vocabulary
Payment from a borrower to a lender of an amount above repayment of the principal sum, at a particular rate.
Interest
Our personal identity (how we see ourselves) and our social identity (how we believe others see us) is what type of life value?
Inner
In Massachusetts, auto insurance is...
a.) compulsory.
b.) optional.
c.) useless.
d.) illegal.
a.) compulsory
Organizations like The Good Shopping Guide evaluate how _____ companies' business practices are.
ethical
A healthcare system entirely funded through tax dollars is called a multi-payer system.
A healthcare system entirely funded through tax dollars is called a single-payer system.
Website design features intended to trick users into doing things they might not want to do, but which benefit the business in question.
Dark Patterns
The 50/20/30 Budget says that 50% of your net income should go to your needs, 20% should go to savings, and 30% should go to your _____.
wants
After submitting your FAFSA, you receive your Student Aid Report which includes your
a.) first tuition bill.
b.) intended major.
c.) estimated family contribution.
d.) scholarships won.
c.) estimated family contribution.
Brands lean on _____ to advertise their products or services most effectively.
influencers
Someone accepted to a college should really only care about the sticker price.
Someone accepted to a college should really only care about the net price.
A specified amount of money that the policyholder must pay before an insurance company will pay a claim.
Deductible
What is the application called that you must fill out in order to qualify for college financial aid?
FAFSA
The “Rule of 72” divides 72 by the percent rate of return to calculate…
a. how many years it will take to double your money.
b. when you can comfortably retire.
c. the current price of a stock or bond.
d. which companies belong in the S&P 500.
a. how many years it will take to double your money.
_____ is another word for time.
An index fund is generally more risky than an individual stock.
An index fund is generally less risky than an individual stock because it is diversified.
The annual net profit that an investor earns on an investment.
Two major debt repayment strategies which approach things from opposite ends are called...
Avalanche vs. Snowball
19. The World Health Organization (WHO) has a goal to achieve...
a.) universal health coverage.
b.) world peace.
c.) energy independence.
d.) unlimited funding.
a.) universal health coverage.
Amazon’s website being difficult to find the “Cancel Prime” page is an example of a(n) ______
roach motel
One type of inflation is supply inflation, meaning a high level of supply drives the price up.
One type of inflation is demand inflation, meaning a high level of demand drives the price up.
The amount of goods and services that can be purchased with a unit of currency.
Purchasing Power
What are the two red flags of a potential scam?
1. Urgent need for money
2. Asks for personal information
What is the Massachusetts sales tax rate?
a.) Massachusetts doesn’t have sales tax.
b.) 5%
c.) 6.25%
d.) 10%
c.) 6.25%
Deductibles and premiums generally have a(n) _____ relationship.
inverse (when one goes up, the other goes down)
A money market account is an example of a tax shelter in which funds contributed are tax-exempt upon withdrawal.
A Roth IRA/401(k) is/are example(s) of /a/ tax shelter(s) in which funds contributed are tax-exempt upon withdrawal.