Marybelle

Compounding - Answers-The concept of adding accumulated interest back to the principal so that interest is earned on interest from that moment on longevity - Answers-The average number of years left remaining at a given age tax deferred - Answers-An investment in which some or all taxes are paid at a future date rather than in the year the investment produces income life expectancy - Answers-The length of a person's life A loss of income can be caused by: - Answers-An accident A...

When choosing the right organization to be a part of, what information is important to check beforehand? - Answers-The "About" page on their website Their contact information and Tax ID Number Internet research and reviews Their financial information Accomplishments and track record The organization's transparency BUT NOT... What translation of the Bible they prefer or... Who they voted for in the last election When we grow in relationship with ___________...

Activate - Answers-To prevent fraud, many card issuers require you to call them when you receive your new card in the mail to verify that the correct person has received it. Until proper ownership is confirmed, the card may not be activated. Automatic Payment: - Answers-If you have a savings or checking account with the same bank that issues your card, you may be able to automatically transfer money from your bank account to pay a credit card bill. Automatic payment eliminates the risk of pay...

Costs - Answers-The price paid to acquire, produce, or accomplish something. Entrepreneur - Answers-A person who takes a risk to create a new product or to develop a better way to operate a business. Profit - Answers-Revenue minus costs. Revenue - Answers-The income a business makes. Rewards - Answers-Something that causes or increases personal satisfaction. Risk - Answers-Something that causes the possibility of loss. An entrepreneur takes a risk to create a new product or dev...

Parents who want to assist in the financial matters of their adult children should always __________. - Answers-seek permission of their children If someone you care about is struggling financially, it is important for you to __________. - Answers-get him or her to ask for help When helping friends with financial matters, it is best to __________. Choose all that apply. - Answers-start with a conversation and setup boundaries Without getting permission to help or be helped, one should _...

What is the purpose of the second page of the W-4 form? - Answers-Deducting and adjusting certain credits and income What is the advantage to claiming fewer deductions on your W-4? - Answers-You many get a bigger refund at the end of the year If you claim yourself as a dependent, who else can generally claim you as a dependent? - Answers-No one else can generally claim you as a dependent Why is it important to memorize your Social Security number? - Answers-You will need it for school, ...

In case of Identity theft - Answers-Contact agencies, file reports, place fraud alerts on files, freeze funds Safe Identity - Answers-Practice safe internet use, check your credit report, be careful with your SSN, destroy records, secure your mail Chain money mails - Answers-Illegal everywhere in every way, don't do them Liquid Assets - Answers-Cash or investments easily converted into cash FDIC Insurance - Answers-Up to $250,000 per depositor APY - Answers-Annual percentage yi...

Consumers use many strategies to get consumers to purchase their products. Which of the following contains a term that is not a strategy we discussed in this unit? - Answers-framing and disposability A company's statement that indicates they can cure cancer without medical support is an example of which of the following? - Answers-deception Which of these is an example of a company's location strategy? - Answers-Nordstrom placing all of its cosmetics in the center of the store so you...

Good money management is important for which of the following reasons? - Answers-all of the above Which of the following financial groups is subject to financial consequences? - Answers-all of the above What is the best definition of financial literacy? - Answers-knowing about money What is the main purpose for filing for bankruptcy? - Answers-to liquidate your assets in order to pay your debts A Chapter 7 bankruptcy involves which of the following? - Answers-You get a fresh start on...

Which of the following is considered to be open-end credit? - Answers-department store charge cards When a person brings an item to a pawnshop to obtain cash, the transaction is considered - Answers-a collateralized loan New coins and currency make their way into the general economy, consumers and businesses, through the distribution system of the - Answers-Federal Reserve System One of the benefits of holding an investment for over a year rather than selling it in less than a year is t...

Which of the following is included in the list of five skills needed in the workplace? - Answers-being a team player being adaptable all of the above What is an important factor to consider for job satisfaction? - Answers-job criteria financial issues work culture A. all of the above What is the average amount of debt American households carry month to month? - Answers-$15,000 What is an important financial issue to consider as you are choosing a career? - Answers-average starting ...

transunion, equifax, and experian - Answers-The credit industry has a database of credit information for over 180 million people. What companies would track and report this information? credit history and public records - Answers-what is included in the credit information database? Public Records - Answers-what are the major components of a credit history? payment history - Answers-of the 5 main criteria used to determine your credit score, which has the most influence over your score? ...

Which type of interest would accumulate the most interest? - Answers-Annual compound interest Lucas's monthly income is $1,450.00, and his monthly expenses are $987.46. What are his available funds? - Answers-$462.54 Your employer pays an amount __________ to the amount you withhold for Social Security and Medicare. - Answers-Equal All the following are ways to save money EXCEPT: - Answers-Take out as many compound interest loans as possible If you have $400 in a bank account with...

Income Statement - Answers-a financial document that shows how much money (revenues) came in and how much money (expenses) was paid out Principal - Answers-The money originally invested or loaned, on which basis interest and returns are calculated Interest - Answers-a fixed charge for borrowing money; usually a percentage of the amount borrowed; "how much interest do you pay on your mortgage?" Simple interest - Answers-interest paid on the principal alone Compound interest - An...

non-income career factors - Answers-Elements of a profession that aren't related to the amount of money you can earn; instead, these aspects include job satisfaction, work-life balance, sense of purpose, company culture, and the acquisition of professional honors or prestige tuition - Answers-the expense paid by students for the instruction at a school non tuition expenses - Answers-The costs you pay for items other than your courses which are necessary for your education; these items i...

Lenders determine your creditworthiness by all of the following EXCEPT: - Your grades in high school and/or college What information is shown on your FICO report? - Loan history If you identity is stolen, what are your first two steps? - Contact the correct agencies and fill out necessary reports How long can late payments and foreclosures stay on your FICO report? - Up to 7 years Which of the following does NOT help differentiate your credit report from others with the same name? - ...

What is an example of an investment that would require a lot of knowledge to successfully invest in. - Answers-Big companies Does a person with a short investment horizon have more or fewer investment options than someone with a long investment horizon. - Answers-More How can diversification reduce the risks of investing? - Answers-Because you know the difference between the things you invest What type of investments would be the least risky? - Answers-Land and real estate How are pr...

A living will - Answers-Directs others regarding your desires about life-sustaining medical interventions To provide directions about the life-sustaining medical intervention you want, you need to have - Answers-A living will A Power of attorney - Answers-Allows a person to manage your financial affairs if you are unable to do so A net worth statement should be developed - Answers-Annually The value of your total liabilities improves your credit rating as it rises - Answers-False ...

Which of the following characteristics applies to the financial career of accountant? (Select all that apply.) - Answers-An accountant is a qualified professional. An accountant deals with financial records and reports. A financial planner is __________. - Answers-a qualified professional who helps individuals and businesses meet long-term financial goals A tax attorney is a qualified professional who is knowledgeable about tax law. - Answers-true Some people in the United States were ...

3. _____ The sales tax in Jefferson county is 9%. Johannes purchased a new pair of shoes at a retail price of $30.00. How much sales tax did he have to pay? - Answers-$2.70. 4. What's the purpose of balancing or monitoring your checking account? - Answers-To help you calculate how much money you have in your account 5. The best way to ensure the accuracy and safety of your accounts is to: - Answers-Monitor your online accounts regularly 6. When it comes to investing, what is the typi...