Review for Final
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | spending
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| show | income
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| show | body, attachment
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| A __________ is goal is one you want to achieve in less than __ months time. | show 🗑
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| show | intermediate, 5
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| A _________ goal is one you want to achieve in more than five years and possibly up to ________ years. | show 🗑
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| When you choose a bank, you should three things in mind: | show 🗑
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| A _______________ is one of the most widely recognized of the banking institutions because they have been so well known throughout the years. | show 🗑
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| show | Virtual banks
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| show | immediately
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| show | security
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| The two basic forms of credit most commonly used are: | show 🗑
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| The __________________________ is the percentage of interest you pay on an annual basis based on how much you have borrowed. | show 🗑
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| show | minimum payment
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| show | default
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| Three things affect your credit card costs: | show 🗑
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| Credit scores range from ___ to ___. | show 🗑
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| show | higher, better, better, lower
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| __________ is the interest rate used by most banks and based on the federal fund rate. | show 🗑
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| The _______________ represents how much is still owed on your account from the previous month’s statement. | show 🗑
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| Your ________________ represents how much is owed on your account after your most recent payments and purchases are taken into account. | show 🗑
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| There are three national credit bureaus: | show 🗑
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| show | 5
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| These five criteria are: | show 🗑
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| show | Personal loans
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| show | principal
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| show | term
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| show | secure loan
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| __________ is an asset, usually what is being purchased, which the bank owns the rights to until the loan is paid in full. | show 🗑
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| show | personal savings and money market account
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| show | CD
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| A federally sponsored corporation which insures accounts in national banks and other qualified institutions up to $100,000 is called the ____. | show 🗑
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| FDIC stands for: | show 🗑
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| show | debt-to-income
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| show | taxable, tax-deferred, and tax-exempt.
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| show | Liquidity, risk and return.
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| A ______ is what you make or earn on an investment. | show 🗑
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| show | 1. NASDAQ
2. Dow Jones
3. S & P 500
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| What are four basic types of risk categories in investing? | show 🗑
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| ________ investments provide a guaranteed return or principal to the investor in addition to interest earned during the investment period. | show 🗑
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| ____________ investments are in companies and governments who are well established, pay dividends and are known for their consistent growth. | show 🗑
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| show | Moderate-risk
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| show | High-risk
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| show | Dividends
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| show | income stock
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| show | growth stock
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| show | Defensive stock
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| _____ represent a loan which is being made to a corporation or government entity by a group of investors. | show 🗑
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| __________ is another term for how much return the fund has earned in the past. | show 🗑
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| ____ is the level of likelihood you may earn or lose the money you invest. | show 🗑
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| _________ allows individuals to collectively share the cost of such losses by paying their money into one large pool of money, making it more affordable for everyone to cover a financial loss if it occurs. | show 🗑
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| _______ an amount of money we might pay to an insurance company on a monthly or an annual basis for the payment of that insurance. | show 🗑
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| show | Deductible
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| show | Life Insurance
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| show | 1. Term
2. Cash Value
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| A ______________ policy is where the face value decreases each year. | show 🗑
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| A _______________ policy’s premiums are adjusted, usually higher, each year when the policy is reviewed and renewed. | show 🗑
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| show | level premium
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| ________ is an insurance program designed for low-income individuals in low-income households. | show 🗑
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| ________ are specific types of losses which will not be covered in the homeowner’s policy. | show 🗑
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| _____________ is probably the most common form of insurance. | show 🗑
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| The _____ your credit score, the _____ your premium will be. | show 🗑
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| show | April 15th
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| You receive your income information from employers on ___ form. | show 🗑
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| show | 1099
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| The most basic tax form is the short form or ______. | show 🗑
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| show | 1040
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| If you make a mistake on your taxes, you can amend your tax return by filing a _____ form. | show 🗑
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| show | Internal Revenue Service
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| The main reason the government collects taxes is for _______. | show 🗑
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| The most common tax on the federal level is the ___________________. | show 🗑
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| show | sales
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| Before you ever receive your first paycheck, you will have to fill out a ___ form for your employer. | show 🗑
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| Fill in the lines below to show the order of a 1040 Form | show 🗑
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