Paychecks
The type of pay received before taking into consideration any deductions.
Gross Pay
What are the 2 types of bank accounts?
Savings
Checking
What is meant by “credit limit”?
The maximum amount you can spend on your credit card
When you invest on margin, you are required to meet the initial margin amount. The initial margin amount is _________%
50%
When you enter in an investment on margin, the broker puts up 50% of the investment. As the investor, we consider this _________ that we will need to pay back later.
Debt
The type of pay received after taking into consideration all deductions.
Net Pay
What is a checking account primarily used for?
Daily transactions such as deposits and withdrawals
What does a minimum payment refer to regarding credit cards?
The lowest monthly payment you can make on a credit card
The type of investment where you would profit by the business’ stock price increasing is called a:
Buy
The term that defines the amount of money you have in a margin investment and is considered your ownership in that investment.
Equity
Name 2 deductions that come from a paycheck
Health Insurance
401k
What is the primary purpose of a savings account?
To save money while accruing interest
What does APR stand for in relation to credit cards?
Annual Percentage Rate
If your investment drops below the maintenance margin, this will prompt a _________ from the broker.
margin call
As the investor, we will need to pay our broker two types of commission. What are the two types?
Percentage & Transaction
Name 2 common expenses you spend your money on after receiving a paycheck.
Groceries
Entertainments
Utilities
Which term refers to the amount of money available in your checking account?
Balance
What is the highest possible credit score you can achieve?
850
The term that represents the amount of money you have to invest.
Buying Power
The term that defines the overall value of your investment.
Total Value
1. A deduction that happens every month and the payment amount is always consistent
2. A deduction or expense that most likely occurs each month, but the payment amount may be inconsistent
3. An expense that does not occur each month and the payment amount usually changes
If you spend $100 but your checking account only had $75 available, you will incur a _________.
Overdraft Fee
What is a credit report?
A detailed record of your credit history and current debt
The term that defines the amount of money you made on an investment.
Total Gains
Who won the Market Watch competition?
Tayshaun