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Money Matters Review

_____ ______ ________ normally pay a higher rate of interest than a passbook or statement savings accounts. Monet market accounts
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 _______, ________, and __________. Equifax, Experian, 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 ______ _____ and ______ _______. credit score, credit history
There are ____ main criteria credit bureaus use to determine your credit rating or score. five
What are the five criteria for determining your credit rating? 1. Payment history 2. Total amount you owe 3. Length of credit history 4. How much new 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, 10
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. 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 stocks
_____ 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 ratings
The main advantage of a mutual fund is _______________. diversification
___________ 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
Created by: fearless4



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