Investing and Planning
What does IRA stand for?
Individual Retirement Account
Central banking system
What is Federal Reserve?
Money made or collected over time that is kept away for later use
What are Savings?
Liability insurance is what?
Insurance for which the policy holder is legally obligated to pay because of bodily injury or property damage caused to another person,
Cost of borrowing money.
What is Interest?
Besides IRA, what are other "Retirement" accounts?
401(k)
Roth IRA
403(b)
Pension
An independent U.S. government agency that insures bank deposits and regulates financial institutions to maintain stability and public confidence in the banking system.
What is the FDIC?
What is a Variable Expense?
An expense that changes on the regular
Medical insurance is what?
This pays for medical and funeral expenses incurred in an auto accident, regardless of fault.
A dedicated cash reserve set aside to cover unexpected expenses
Emergency Fund
Requires that the finance charge and annual percentage rate be disclosed to the consumer in advance
What is Truth-in-Lending Act
A debt security in which an investor lends money to an issuer in exchange for periodic interest payments and the return of the principal at maturity
What is Bond?
What is a Fixed Expense?
An expense/cost that stays constant in price; doesn't change.
What is "premium" in regards to insurance?
The cost of an insurance program, usually charged monthly.
An estimate of income and expenditure for a set period of time
What is a Budget?
Due to the high cost of post high school education, families can help to pay for their child's tuition and expenses by having:
What is an Invest529 Plan?
A feature offered by banks to protect from over charging a debit card out bouncing a check
What is Overdraft Protection?
One's salary after taxes are subtracted out. This is the real amount of money one will take home.
What is Net Income?
The amount of money that the policy holder pays when a claim is settled.
What is the DEDUCTIBLE?
Factors that cause change in prices...
overall interest rates, financial condition, supply and demand factors, upturn or downturn in economy
Property or assets that are subject to seizure on default when applying for a loan?
What is COLLATERAL?
A time deposit offering interest to the owner
What is Certificate of Deposit
The Federal Reserve uses this to regulate the nation's money supply
What is Monetary Policy?
What does HMO stand for?
Health Maintenance Organization
Define mutual funds
An investment company that pools the money of investors.