Rates
Banking
Credit
Investing
Up 4 Grabs
100
What type of interest is ONLY charged off principal?
Simple Interest
100
What kind of fee is charged when you use and ATM that is NOT part of your bank's network.
ATM Fee
100
What is credit?
A loan
100
Do not ever think you can beat the...
MARKET
100
What animal does this Okapi have the closest genetic relation to?
Giraffes
200
What type of interest is charged of principal and prior interest?
Compound Interest
200
What kind of fee is charged when you spend more money than what is in your bank account?
Overdraft Fee
200
What is a secured loan?
A loan that has collateral to sell if the borrower does not make their payments.
200
What is a group of stocks, bonds and even ETF’s of just about anything you can invest in?
Mutual Fund
200
How many hearts do octopus have?
3
300
What is a variable rate?
A rate that changes with the economy
300
What is the Principal Amount?
The original amount you're loaned or save
300
What is Schumer's Box?
A box that is legally required by the government - it shows all relevant credit card information over things they could charge you money on
300
What type of stock is normal ownership and has voting rights in a company?
Common Stock
300
What causes flamingos to turn pink at a young age?
The shrimp they eat!
400
What is the phrase that best describes the time value of money?
A dollar now is better than a dollar later
400
What is a Non-Profit institution? (need more than the common example)
A business that is for the public benefit, not to make profit for an owner.
400
What is the Grace Period?
The time between when your statement comes out and when your bill is due where the credit card company won't charge you interest as long as you pay by the due date
400
What type of stocks give more income and don't have normal voting rights in a company
Preferred Stocks
400
What is the largest species of dolphin? Hint: they also are the only mammal (other than humans) to practice before they hunt
Orcas
500
What is Liquidity?
How quickly you're able to turn an asset into cash
500
What does it mean to pay yourself first?
Put your savings away THE SECOND you get your paycheck, don't wait until later or the end of the month
500
What is interest?
A fee paid to someone for borrowing their money - OR - a fee paid to you for letting someone else borrow your money
500
The most important rule in investing is?
DIVERSIFY (DIVERSIFICATION)
500
What is the deadliest animal on the planet?
The Mosquito - According to the World Health Organization, 725,000 people are killed each year from mosquito-borne diseases, such as Malaria, dengue fever and yellow fever