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What is an overdraft? NSF check
What is a certificate of deposit? Way of saving money, there are restrictions on when you can withdraw your money.
State the guidelines for choosing a PIN number. A number that nobody else could figure out.
What is a round lot? Stocks are traded in multiples of 100.
Explain the difference between a debit card and a credit card. Debit card=way to access money in your checking account Credit card=loan
The most expensive method of using a credit card. Cash advance or convenience check
What does PIN stand for? Personal identification number
What types of public records appear on a person’s credit report? Divorce Bankruptcy Liens Lawsuits
Why is the interest rate usually higher on credit cards than on other types of loans? Credit cards have a high rate of default & are risky for lenders
What is inflation? The increase in the cost of living.
Which stock pays dividends first, preferred or common? Preferred
What is selling short? Selling stock borrowed from a broker that must later be repaid.
A term for the owners of a corporation. Shareholders or stockholders
List the highest bond rating. AAA
A term for a bond in default. Junk bond
When a bond is purchased for less than its face value. Discount
Which type of bonds are associated with the highest interest rate? Why? Corporate, risk
A risk where you could experience losses in your income or standard of living. Personal risk
Why do corporations sell bonds? To raise capital
A risk where there is a chance of a loss as well as a chance of a gain. Speculative risk
The policyholder should be put back into the same condition as they were prior to the loss. Indemnification
What is buying on margin? Using leverage
When a bond is purchased for more than its face value. premium
A term for a person who will inherit money from another. Heir or beneficiary
A loan to purchase real estate. Mortgage
Added to an insurance policy to protect high value items. Personal property floater
Why is it usually less expensive to take part in a group health insurance plan that purchase an individual plan? The risk is spread among more people.
Another term for real estate. Real property
This type of tax takes a higher percentage of your income as your income increases. Progressive tax
When a bond is purchased at a premium, the yield will be ________ than the coupon rate. Lower
A tax where the more you earn the less you pay. Regressive
Establishing a monetary fund to cover the cost of a loss. Self-insurance
A crime where a taxpayer does not pay their taxes. Tax evasion
A form that lists a taxpayers total income and taxes deducted from their paycheck for a given year. W-2
When a person dies without a will. Intestate
The person chosen to administer a person’s will. Executor
Who pays a gift tax? The giver
Gambling is this type of risk. Speculative
When should a taxpayer itemize? When their expenses are larger than the standard deduction.
A financial product where a the bank buys your house from you. Reverse mortgage
Another term for a flat tax. Proportional
The date your income tax return must be filed by. April 15
Who pays realtor’s commissions? The seller, not the buyer.
When real property is transferred from the seller to the buyer. Closing date
The highest price a home will bring on the market. Market value
What is a canceled check? One that has been cashed.
An endorsement where the signature of the payee is written exactly as his or her name appears on the front of the check. Blank endorsement
A term for balancing your checkbook. Reconciling
A type of credit card that can only be used at a specific retailer. Retail credit card
What does APR stand for? Annual percentage rate
List one of the 3 major credit bureaus. Experian Trans Union Equifax
Amount of time allowed to the cardholder between the day the items are charged on the credit card and the day finance charges are applied. Grace period
When can a person view their credit report for free? Once per year When denied credit due to something on their credit report
What does the FDIC do? Provides insurance for depositors at commercial banks
Income received by stockholders. Dividends
The over the counter stock market. NASDAQ
The largest stock exchange. NYSE
An increase in the number of shares outstanding of a corporation’s stock. Stock split
When an investor makes money on the sale of stock. Capital gain
Elected by stockholders to guide a corporation. Board of directors
These stocks do well when the economy is growing but usually do poorly in times of recession. Cyclical stocks
Another term for face value. Par value
Bonds with low or no rating. Junk
Bond backed only by the general credit standing of a corporation. Debenture
The cost of insurance. Premium
The possibility of a loss. Risk
One who calculates an insurance premium. Actuary
To take measures to lessen the frequency oR severity of losses that may occur. Reduce the risk
When an investor loses money on the sale of stock. Capital loss
What is an attractive nuisance? Example: trampoline or swimming pool
People who determine the value of property destroyed for insurance companies. Claims adjustors
These people look for evidence of destroyed or damaged property. Insurance investigators
Another term for self- insurance. Risk assumption
Insurance that protects against loss from death. Life insurance.
Being paid twice the death benefit for an accidental death. Double indemnity
A front-end load. Paid when you buy the mutual fund.
Agreements to buy commodities at specified prices on specified dates. Futures contracts.
Example of a progressive tax. Federal income tax.
Items such as coins and antiques are investments known as_______. Collectibles
An example of a regressive tax. Sales tax
As taxable income increases, tax rates ____. Increases
The difference between market value of property and what you owe on it. Equity
Another term for closing costs. Settlement costs
An example of a defined- benefits plan. pension
A legal document authorizing someone to act on your behalf to handle personal affairs. Power of attorney
An IRA that taxes contributions, but not money withdrawn at retirement. Roth IRA
An apartment with one large room that serves as the kitchen, living room, bedroom, plus a bathroom. Efficiency apartment
What does MLS stand for? Multiple Listing Service
A legal document that establishes ownership. Title
The portion of the purchase price that the buyer deposits as evidence of good faith. Earnest money
A formal document that expresses interest in entering into a contract with someone is a(n) _______. Offer
Investments Who wants to be a millionaire?. What kind of an investor are you? Rate all investment options according to three characteristics: Safety.
Investing 101. Types of Savings tools Savings Account: An interest-bearing account (passbook or statement) at a financial institution. Certificates of.
8.01- C Summarize other types of investments.. Investing Through Life Insurance *Purpose: to protect those whose financial security will be affected by.
Saving and Investing. Why Save? Saving : setting aside income for a period of time so that it can be used later People save for purchases that require.
+ Investments. + Learning Objectives Students will know investment options. Students will be able to identify relative risk, return and liquidity of the.
Investment Vocabulary. Appreciation O An increase in the basic value of an investment.
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Take Charge Saving & Investing. Insuring Deposits FDIC Federal Deposit Insurance Corporation Protects Checking, Savings, MMA, & CDs Insures money.
CHAPTER 11 FINANCIAL MARKETS. SAVING AND INVESTING SECTION ONE.
Test Review Banking. 1 List the guidelines for selecting a PIN number. Don’t pick a number that anyone else could figure out.
Money Investments What is an investment? Investment is something bought for future financial benefit. Promotes economic growth Contributes to wealth.
Saving and Investing April How to Select a Savings Plan 1. Decide whether to save or invest. 2. Can you withdraw money from this savings plan? 3.
Finding and Selecting a Home. What Are the Steps for Buying a Home? 1.Determine if you should rent or buy 2.Determine how much you can afford to spend.
Review How are American Anti-Trust Laws an example of a mixed-market economy? What is an oligopoly? What is a conglomerate? What is the difference b/w.
CH 11 Financial Markets 11.1 Saving and Investing.
Activator Chapter What would be the disadvantage of putting your savings under your mattress? 2. What are some places that you could invest your.
Investments in stocks have the potential for very high returns. This also means that stocks have which other characteristic? 1.Guaranteed payments 2.High.
Unit 4. Money Three Uses: Medium of Exchange Barter Economy vs. Monetary Economy Unit of Account Store of Value Six Characteristics of Currency Durability.
CHAPTER 6 NOTES. Statement savings account: savings account where the depositor receives a monthly statement showing all transactions. Money market deposit.
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Saving and Investing Why Save? And How?. Teacher/Parent Interview Do you have a written budget? What strategies do you use to allocate your financial.
Investing: Chapter 11. Investment – use of assets to earn an income or profit The Financial System ◦ Financial Assets (or securities) Flow of Savings.
Vocabulary Currency- Coins and paper bills used to purchase goods/services. Certificate of Deposit- Earns a higher interest rate than a savings/checking.
Saving & Investing Achieving Financial Success. What does it mean? Saving Putting money aside for future use Investing Using money so that it earns.
S LIDE 1.1 The Language of Financial Markets Quiz Bowl Game Board Invest in This Potent Investments Index or Exchange Earn It Who am I? Financial Markets.
Personal Finance. Warm Up 1) What kind of information can be found in a paycheck? 2) What deductions do you think are made to your salary? Be specific.
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Savings – income not used for consumption Investment – the use of income today that allows for a future benefit Financial System – all the institutions.
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Money, Banking, & Finance Money & Banking Federal Reserve Managing Your Money Planning & Budgeting Saving & Investing Bonds & Other Financial Assets The.
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Personal Finance Key Terms. Capital Formation Movement of money from households to businesses and government through investments and loans.
Chapter 22 Buying a Home. Goals for Chapter 22.1 Discuss the financial and quality-of-life advantages of home ownership. Describe the costs and responsibilities.
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Personal Money Management Choices. As you view this PowerPoint presentation, please feel free to take as many notes as you need. Any notes you take and.
Page 1 Financial Institutions and Investments. Page 2.
Financing Residential Real Estate Lesson 1: Finance and Investment.
© South-Western Educational Publishing Buying a Home.
Chapter 11 Financial Markets. CHAPTER 11 Section 1.
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