Banking
What is deposit?
putting money in an account
The definition of FOMO
What is fear of missing out
What is the credit score range
300-850
What is the definition of Insurance?
What is a contract for financial protection from risk of loss.
A chance of losing all your money?
Investment Risk
True or false: Withdrawal is taking money out of an account
True
The definition of loss aversion
Pain of loss is twice the joy of gains
What is the net worth formula
Assets minus liabilities
What are the three types of insurance?
What is Auto, Health, and Renters
The shares of a group of stocks, bonds, etc.
What is a bounced check?
Check rejected by a bank for insufficient funds
The definition of the endowment effect
Assigning more value to things we own compared to things we don’t own
Who creates credit reports
Credit bureaus
What is an actuary?
What is a professional who analyzes risk and calculates premium needed to cover potential loss payments.
What is inflation?
General increase in prices
The definition of the bandwagon bias
what is conforming to the crowd
What is the Miami sales tax
7%
What are the three types of health plans.
What is HMO, PPO, and POS.
What does a bull market represent in stocks?
What are the common banking fees?
- Monthly maintenance/service fee
-Out-of-network ATM fee
-Excessive transactions fee
-Overdraft fee
-Insufficient funds fee
-Wire transfer fee
The definition of disposition bias
What is selling assets that have made financial gains and keeping assets that have lost money
What is the FCRA
the Fair Credit Reporting Act, a federal law that regulates how consumer reporting agencies collect, use, and share consumer information
What are the five components of auto insurance coverage.
What is Liability, Collision, Comprehensive, PIP, and Uninsured Motorist.
A hypothetical portfolio of investment holdings that represents a segment of the financial market.
What is Market Index?