Review for Final
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| show | spending
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| show | income
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| show | body, attachment
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| show | short-term, 12
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| An ____________ goal is one you want to achieve in more than 12 months, but less than _ years. | show 🗑
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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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| show | commercial bank
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| show | Virtual banks
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| show | immediately
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| The top two features of online and mobile banking are convenience and _________. | show 🗑
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| The two basic forms of credit most commonly used are: | show 🗑
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| show | annual percentage rate
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| show | minimum payment
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| show | default
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| show | 1. Annual fee
2. Finance charge
3. Grace periods
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| Credit scores range from ___ to ___. | show 🗑
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| This is an overall score assigned to your account by the credit bureaus. The ______ the number is, the ______ your rating is. This means, the _______ your credit rating is, the _____ your interest rate will be. | show 🗑
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| show | Prime rate
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| show | opening balance
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| show | closing balance
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| There are three national credit bureaus: | show 🗑
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| There are _ main criteria credit bureaus use to determine your credit rating or score. | show 🗑
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| show | 1. Payment history
2. How much you owe
3. Length of credit history
4. How much new credit
5. What types of credit
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| show | Personal loans
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| show | principal
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| The ____ is the length of time the loan is set up for you to pay it back. | show 🗑
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| When you put up collateral for a loan, it is said to be a ____________. | show 🗑
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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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| You can only make a deposit when you open a __. | show 🗑
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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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| The three types of investment accounts are: | show 🗑
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| There are three areas you must consider when choosing an investment. They are: | show 🗑
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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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| ________ investments are generally on speculative investments, such as futures, brand new companies and high-yield bonds. | show 🗑
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| show | Dividends
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| show | income stock
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| 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. | show 🗑
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| show | Defensive stock
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| show | Bonds
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| show | Performance
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| show | Risk
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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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| ____________ is used to provide financial support in the event of your death to your dependents so their lives can continue, at least financially, after you are gone. | show 🗑
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| What are two basic types of life insurance policies? | show 🗑
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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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| show | Auto Insurance
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| show | lower, higher
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| Most every U.S. citizen must file a federal income tax return on or before _________. | show 🗑
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| show | W-2
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| show | 1099
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| show | 1040EZ
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| show | 1040
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| show | 1040X
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| IRS stands for: | show 🗑
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| The main reason the government collects taxes is for _______. | show 🗑
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| show | Federal Income Tax
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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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| show | 1. Gross Income
2. Adjustments
3. Adjusted Gross Income
4. Exemptions
5. Deductions
6. Taxable Income
7. Credits
8. Taxes Paid
9. Refund or Amount Owed
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