Stock Market
A term for when the company shares profits with stockholders.
Dividend
A social insurance program run by the government designed to provide benefits for retired workers and the disabled is called...
Social Security
Name 3 different types of insurances you can buy.
home, rent, car, health, life, and others
Name 3 situations where you may need to take out a loan.
To buy a car, a house, go to college, start a business and others
What are TWO parts of a check?
The address, the name, the account name, the account number, the memo line, the pay to order line, the money written out, the signature line.
A term for spreading out risk in your investments
Diversification
What does IRA stand for?
Individual Retirement Account
The amount you pay after a car accident before your insurance pays is called
Deductible
The term used when a bank takes possession of a home because the borrower has failed to make loan payments.
Foreclosure
When you write a check for more money than what you have in your checking account.
Overdraft
A piece of the ownership of a company is called...
a stock
An employer sponsored retirement plan.
401(k)
A type of insurance that pays benefits to replace part of your income if you are unable to work because of an illness or accident is called
Disability Insurance
A card where money comes out of your bank account immediately.
Debit Card
Money that remains after you have paid for regular or needed expenses.
Discretionary Income
Professionally managed investments that uses money of many individuals pooled together.
A Mutual Fund
Name three sources of income after you retire.
Social Security, Investments, Retirement accounts
Comprehensive or Collision Coverage?
You swerve out of the way of a deer to avoid collision but end up hitting your neighbors fence.
Collision
A term for when you owe more on an asset than what it is worth.
Underwater or Upside down
Give an example of a fixed expense and a variable expense.
Fixed expenses stay the same each month like rent or car payments. Variable expenses can change each month like money spent at restaurants.
A loan for a set period of time that is issued by state, county, or city government.
A Municipal Bond
A retirement account where you pay taxes on the money before making contributions.
A Roth IRA
This job benefit allows you to make tax free contributions that can be used for medical expenses.
A Health Savings Account (HSA).
What is the largest influencing factor in determining an individual’s credit score?
Payment history: the record of your on-time and late payments
The independent agency of the federal government that insures accounts at banks and other financial institutions to keep a stable financial system.
The Federal Deposit Insurance Corporation (FDIC).