Lead/Man
What makes a good leader?
Honesty, respect, clear communication, building relationships
What does “advertisement” mean
a notice or announcement in a public medium promoting a product, service, or event or a job vacancy
What’s the difference between a checking account and a savings account
A checking account is for spending. You use it to pay for things like food, clothes, or bills with a card or checks.
A savings account is for saving. You put money in it to keep it safe and let it grow over time with interest.
What is a mortgage?
A mortgage is a loan specifically used to buy a house or other property. It's a secured loan
What is consumer credit?
someone takes money from the bank with the promise to pay it back
Name 3 Management Styles
Autocratic, Authoritative, Paternalistic, Persuasive, Democratic or Participative, Consultative, Collaborative, Transformational, Coaching, Laissez-Faire or Visionary
True or False: You can use other brands for your advertisement without their permission
False
How do banks make money?
Banks make money by charging people to borrow money and from fees, like ATM charges.
True or False: stocks are shares of ownership in a company
True
Name and define a type of loan
answer student loan,mortgages,consumer loans and a line of credit
describe 2 things that makes leadership difficult
The difficult challenges of being a good leader of your business is trying to learn to try to be more confident in trying to communicate with others, trying to start building confidence in your business, and trying to understand how your employees think of you.
What do the 2 C's stand for?
Consumer, competition.
Why is having a good credit score important?
A good credit score is important because it helps you borrow money more easily and get better deals, like lower fees or interest.
When do you need to pay back a consumer loan?
When you declare bankruptcy.
What is a line of credit?
its a loan that you don't get the money immediately but you can take it out when you want
Name a leadership style and a pro & con for that leadership.
Answers will vary. Type of leadership style options are Transactional, Transformational, Autocratic, Democratic or Servant Leadership.
What do the 4 P's stand for?
Product, Price, Place, Promoti0n
What does it mean to invest money into stocks/business’?
Investing money means putting your money into something, like stocks or a business, to make more money over time.
In the stock market, when do stock shares start to become publicly traded?
When a company has gone through an IPO (initial public offering), which involves many steps including: choosing an underwriter, due diligence, regulatory filings, a roadshow and setting the first price for their stock.
Why would someone prefer to use a credit card over cash/debit?
You can earn rewards by paying with a credit card, it is easier to keep track of what you have spent it on, it has better protection than debit.
Name a Leadership style and Pro and Con
Answers may vary
Name and describe 3 things you should know about your customers.
Who they are
What they do
Why they buy
When they buy
How they buy
How much money they have
What makes them feel good about buying
What they expect of you when they buy
What they think about you
What they think about your competition
What 2 factors contribute to a high or low credit score?
High credit score:
Pay bills on time
Don’t borrow too much money
Low credit score:
Don’t pay bills on time
Borrow too much money
What does GIC stand for and mean?
It stands for Guaranteed Investment Certificate, and that it is a low risk investment where you are able to agree to leave your money in a financial institution for a period of time and than it can earn a fixed interest rate
Describe a conditional sales contract
when you buy a car with a credit card you need to sign a contract with the payment amount date and interest and the payment term but if you do not complete the payments the car company can take the car