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Ch.10&11 study guide

chapter 10 and 11 study guide for test tomorrow

QuestionAnswer
Know why using coins as money is easier than using gold bars It's heavy and its easier to carry coins.
Know what the largest source of income for a bank is Interests
Know what happens when you use a credit card to make a purchase The credit card company issuer will pay the store and you have to pay the credit card company.
What type of lender is most likely to charge you the highest interest rate on a loan? Savings in loans.
What does FDIC insurance cover? Insurance on your money that you have in the bank, it covers up to $250,000.
Examples of financial institutions. Credit union, financial company, life insurance company.
Main advantage of diversification Risk management.
Social security taxes pay? Medicare, social security, and older citizens to retire.
Government entitled program Food stamps, can's afford it.
What happens to the money withheld from your paycheck? The government.
Mortgage Pays for your house.
Equity Money that you get back, that you already payed.
Mutual funds Money invested in a variety of stocks and bonds.
Dow Jones industrial average Top stocks, 30 stocks that are represented as a whole.
Credit risk Someone that is not good paying their money back.
"Bear Market" Many investors selling their stock, waiting on a lower profit.
Federal insurance contribution act (FICA) Government, medicare, and social security.
Excise tax Gasoline for your car or truck.
Currency Type of money, paper bills and coins.
Default Don't pay it, have not paid, or failed at it.
Federal Reserve System It's the banking system of the United States.
Interest How much money you put in. The price you paid for borrowed money.
Principal The amount you borrow.
"Bull Market" A steady rise through the market over a period of time.
Investment Move around resources, and save it, so it can help you in the future.
Portfolio Collection of your assets.
Return What you get above your initial investment.
Created by: Katwill678