Money and Finances
Who is on the US dime?
President Franklin Roosevelt
List one advantage to using credit.
Helps make larger purchases, eliminates the need to carry cash and help establish credit history.
What is a stock?
A small piece of company ownership. (called a share)
What is an elevator pitch?
What kind of economic system do we have in the US?
Market, Free market, Capitalism.
What does is mean when a personal check is "NSF"?
Not Sufficient Funds
What is the "grade" called that is given to you by the credit agencies for how well you pay back borrowed money?
Credit Score
What are the 2 main stock markets in the US
NYSE and NASDAQ
What is a USP and what does it stand for?
Unique selling position or unique sales point- What this product/service/brand has that the competition does not.
The are what: Prosperity, Recession, Depression and Recovery
4 stages of the business cycle
What is a mortgage?
Loan for a home
What is Revolving credit?
The type of credit where you spend/charge and then pay it all off, repeat.
What is the S and P 500?
A list for investors that measures 500 of the top companies and how their stock is doing.
What is a quota?
Minimum amount to sell over a certain time period.
What is the difference between an indirect and a direct channel of distribution?
Direct goes straight from manufacturer to the customer. Indirect has a stop or multiple stops in between the producer and customer.
What is one difference between a debit card and credit card?
Answers vary: debit cards are linked to your bank account and with credit cards, it is borrowed money.
What is installment credit?
When you borrow a set amount of money. You pay the same amount every month, and you know when the loan will be paid off.
What is the main difference between a private company and a public company in terms of stocks.
Public companies offer stock, private companies do not.
Explain what a "prospect" is in terms of sales:
Prospect: Potential customer and people you want to sell to.
What are the 4 p's to the marketing mix?
Price, Promotion, Product, Place
What is a simple definition of a government bond?
Loans you give to the government with guaranteed paid interest after a set time period. (short, medium and long term available)
What is the difference between interest and a finance charge? What is the same?
Both are the money you are charged for borrowing. Interest is a %, and a finance charge is a dollar amount.
Name the 2 stock market trends by their nick names.
Bull market (going up) Bear market (Going down)
What is a customer objection in the sales process? Give an example of one.
What is a simple definition of a product mix for a company?
All the different products that a company makes or sells and how it is organized.