The value of an investment at some point in the future.
What is future value
100
Coverage for injuries to persons in vehicles in an accident is called what type of insurance?
What is casualty
100
The most common financial institution
What is a commercial bank
100
The largest variety of banking services is provided at a
What is bank
100
A loan you take out when you want to purchase a home
What is a mortgage
200
Interest paid when the interest is not reinvested each interest period
What is simple interest
200
Thrifts specialize in
What is mortgage loans and depository services
200
This institution requires you to be a member and members are tied by a common bond that may exist
What is credit union
200
The government agency that regulates and protects members money for a credit union
What is the NCUA
200
This entity facilitates the transfer of capital from those who have excess to those who nee more than they have.
What is financial intermediary
300
The process where interest is being earned on the principal and reinvested interest.
What is compound interest
300
An account that earns interest like a savings account but has the features of a checking account
What is a money market account
300
Workplace plans designed to provide income for employees when they retire
What is a pension fund
300
A savings deposit that allows you to earn a higher interest rate than a regular savings account, but there are restrictions on how long you must keep the money in the bank.
What is certificate of deposit
300
The most important job of money is to serve as a
What is medium of exchange
400
The value of a future cash stream discounted at the appropriate market interest rate
What is present value
400
The financial services industry allows people to do these 4 things with their money
What is hold (store), lend (borrow), create (invest), protect (insurance)
400
A type of an investment where you put down a lump sum of money in exchange for a series of equal payments over time.
What is an annuity
400
A financial institution where investors can purchase stocks, bonds, and other types of investment vehicles
What is stock brockerage
400
This is a box that financial institutions offer customers to store valuable items or documents.
What is a safe deposit box
500
If $2,000 was invested at a 10% interest rate and compounded yearly, how much would be in your account after 2 years
What is $2,420
500
What 3 agencies of the government regulate the financial services industry?
What is The Federal Reserve, The Comptroller of the Currecy, the Federal Deposit Insurance Corporation
500
This allows people with small amounts of money to diversify their investments and makes it easier for people to invest without spending a lot of money
What is a mutual fund
500
The idea of removing laws that have been put in place to offer more flexibility with the banking industry
What is deregulation
500
The original amount invested into a savings account