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| Question | Answer |
|---|---|
| 1. normally pay a higher rate of interest than a passbook or statement savings account. | Money Market Account |
| You can deposit money into a account at any time. | personal savings and money market |
| You can only make a deposit when you open a | cd |
| Checking accounts and savings accounts are insured by the | fdic |
| A federally sponsored corporation which insures accounts in national banks and other qualified institutions up to $100,000 is called the | fdic |
| FDIC stands for | Federal Deposit Insurance Corporation |
| The 3 national credit bureaus are | Equifax, Experian, and Transunion |
| Individuals are allowed to get a copy of their own credit report for free from these credit bureaus how many times a year? | once |
| The two major components which make up your credit history are | consumer credit information and public records. |
| There are main criteria credit bureaus use to determine your credit rating or score. | 5 |
| What are the five criteria for determining your credit rating? | 1. payment history 2. total amount owed 3. length of credit history 4. how much credit 5. what types of credit |
| are normally used for various types of big ticket purchases individuals routinely make. | Personal Loans |
| The actual amount of money you borrowed from the lender for your purchase is called the | principle |
| A means the interest rate set at the time you take out the loan will be the interest rate you pay throughout the entire term of the loan | fixed rate |
| An may change during the term of the loan. | adjustable rate |
| The is the length of time the loan is set up for you to pay it back. | term |
| What type of loan do you put up collateral for? | secured loan |
| is an asset, usually what is being purchased, which the bank owns the rights to until the loan is paid in full | Collateral |
| What are the 3 basic fees you pay when you take out a loan? | 1. application fee 2. attorney fee 3. credit history fee |
| An may be a percentage of the loan or it may be a flat fee | application fee |
| How much a person makes relative to how much they are obligated for is called | debt-to-income ratio |
| The three types of investment accounts are | taxable, tax-deferred, and tax-exempt. |
| There are three areas you must consider when choosing an investment. They are: | Liquidity, risk and return. |
| A is what you make or earn on an investment. | return |
| When you buy a house you will make a down payment that is to percent of the purchase price. | 5,20 |
| What are three basic types of housing? | 1.condo 2.co-op 3.single family |
| When buying a housing you are responsible for | mortgage payment, insurance, taxes, maintenance, and repairs. |
| A is basically an apartment which you buy. | condo |
| A is a living space that is the same as a condo, but when you buy it you become a part owner of the building. | co-op |
| What are the 3 major stock markets reported here in the US? | 1.NASDAQ 2.Dow Jones 3.S & P 500 |
| What are four basic types of risk categories in investing? | 1. Low Risk 2. Limited Risk 3. Moderate Risk 4. High Risk |
| investments provide a guaranteed return or principal to the investor in addition to interest earned during the investment period. | low risk |
| investments are in companies and governments who are well established, pay dividends and are known for their consistent growth. investments are generally in companies who have room for growth. | limited risk |
| investments are generally in companies who have room for growth. | moderate risk |
| investments are generally on speculative investments, such as futures, brand new companies and high-yield bonds. | high risk |
| are a portion of a corporation’s assets paid to stockholders on a per share basis. | dividends |
| An is when the company makes a profit and then pays its investors a dividend based on that profit. | income stock |
| A is a company which experiences growth and its stock value increases where the investor can make money when he decides to sell the stock. | growth stock |
| stocks sell for more than dollars per share and are usually stocks of a well established company that has predictable income with slow, but steady growth. | blue-chip, five, stable |
| are named as such because they usually hold their value better during downturns in the economy and the capital markets. | defensive stock |
| represent a loan which is being made to a corporation or government entity by a group of investors. | bonds |
| pay a specified amount of interest on a regular basis to the | bonds, bond holders |
| Corporations have , just like individuals. | credit rating |
| The main advantage of a mutual fund is | diversifaction |
| is another term for how much return the fund has earned in the past. | performance |
| is the level of likelihood you may earn or lose the money you invest. | risk |
| In August of this year, you will be paid $10 per share you own of ABC stock. You own 750 shares and you do not plan on selling these shares at this time. How much will you earn in dividends on this investment? | $10 x 750 = $7,500 |
| In December of this year, you will be paid $1,000 per share you own of ABC stock. You own 2,500 shares and you do not plan on selling these shares at this time. How much will you earn in dividends on this investment? | $1,000 x 2,500 = $2,500,000 |
| You purchased 300 shares of XYZ stock for $250 per share in January. In December, you sell it for $275 per share. How much will you earn or lose on this investment? | 300 x $250 = $75,000 82,500 - 75,000 = 7,500 300 x $275 = $82,500 |
| You purchased 900 shares of Apple stock for $150 per share in March. In June, you sell it for $115 per share. How much will you earn or lose on this investment? | 900 x $150 = 135,000 103,500 - 135,000 = -31,500 900 x $115 = 103,500 |
| An investor owns 550 shares of ABC Company stock and its shares are trading at $90 per share. The company does a stock split of 3:1. How many shares will the investor now own? What will be the price per share? | 550 x 3 = 1650 shares $90 / 3 = $30 |
| An investor owns 10 shares of Fedex Company stock and its shares are trading at $54 per share. The company does a stock split of 6:1. How many shares will the investor now own? What will be the price per share? | 10 x 6 = 60 shares $54 / 6 = $9 |
| An investor owns 50 shares of Ford Company stock and its shares are trading at $30 per share. After a stock split, the investor owns 150 shares and the shares are trading at $10 per share. What was the stock split? | 50 x ? = 150 shares Answer: 3:1 ratio |
| An investor owns 150 shares of Banana Republic Company stock and its shares are trading at $50 per share. After a stock split, the investor owns 300 shares and the shares are trading at $25 per share. What was the stock split? | 150 x ? = 300 shares Answer: 2:1 ratio |
Created by:
joshdun
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