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PF Intermediaries
Personal Finance financial intermediaries term review
| Question | Answer |
|---|---|
| FDIC | Federal Deposit Insurance Corporation |
| The science of the management of money and other assets; the management of money, banking, investments, and credit. | Finance |
| A depository institution where one can keep and borrow money and take care of financial affairs. | Bank |
| Interest earned on both the principal amount and any interest already earned. | Compound Interest |
| A cooperative nonprofit financial institution that is privately owned and controlled by its members. It provides depository and lending services to its members. | Credit union |
| An agency of the United States that promotes public confidence in the U.S. financial system by insuring deposits in banks and thrift institutions for at least $250,000 | Federal Deposit Insurance Corporation (FDIC) |
| The central bank of the United States. | Federal Reserve |
| A professional who provides financial planning and advice on financial matters. | Financial Advisor |
| The ability of individuals to make appropriate decisions in managing their personal finances. | Financial Literacy |
| What an amount invested today at a particular interest rate will be worth in the future. | Future Value |
| A financial institution that protects persons against the risk of financial loss. | Insurance Company |
| Cost of borrowing money expressed as a percentage of the amount borrowed. | Interest |
| An independent federal agency that serves to supervise and regulate federal credit unions. | National Credit union Administration |
| The value of a future cash stream discounted at the appropriate market interest rate. | Present Value |
| Degree of uncertainty of return on an asset; the possibility of loss. | Risk |
| The amount of interest based on a principal amount and not on earned interest. | Simple Interest |
| Money’s potential to grow in value over time. The relationship between time, money, a rate of return, and earnings growth. | Time Value of Money |
| • Gathers payments from working individuals into retirement funds, and then invests those payments so that they may accumulate to provide enough money for an individual’s retirement | Pension Fund |
| A term used to define the financial resources that are used to make money, which can take the form of equity or debt. | Capital |
Created by:
krawczyk2242
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