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Terms in this set (66)
an example of a short-term financial goal short term one year or less to achieve such as going to a concert or getting a paid
for high school sophomores would be? internship
electronic funds (EFT) are requested through an electronic terminal. telephone or
computer and authorize a person's financial institution to transfer from or to the
an example of an electronic funds transfer account. direct deposit of a paycheck is an example of an eft whereby a paycheck is
(lEFT) is a ? automatically deposited into a person's bank account. EFTS can also be used to pay
the electricity bill and make installment loan payments or transfer money between
accounts.
debit card purchases are immediately deducted from a person checking account
the dollar amount of a debit card purchase
balance. the person must have at least the amount of the purchase in the account to
is usually?
which the debit card is linked.
a person has several open department the person could use these open accounts. and this will be considered in any
store charge cards she has not used in two application for credit. if the maximum credit on the unsure accounts together with
years. there are no credit balances on the maximum credit on her active accounts add up to more than she is likely to pay. it
these accounts. these charge cards may could be difficult to get a loan.
impact the application for a loan because
they ?
predatory lending uses abusive practices in any type of credit and tends to occur in
low-income neighborhoods, particularly those with a large number of elderly or
which example is a predatory lending
minority residents who have a poor credit history, or need cash quickly. these lenders
situation ?
use deceptive advertising and high-pressure salespeople to give repayment terms
that the borrower can't afford.
credit card companies charge considerable interest for not paying the complete
a good practice when using credit cards is balance each month. therefore, not paying each month's balance in full is a bad habit
to ? that should be avoided. it shows the person is spending more money than she can
afford, which is a sign of a poor money manager.
an organization that provides students loan the federal government is the likely place for a student loan, for a government loan,
for students in need of financial assistance? a FAFSA ( free application for federal student aide) has to be completed.
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, a person has several open department the person could use these open accounts and, this will be considered in any credit
store charge cards she has not used in two application. if the maximum credit on the unused accounts together with the
years. there are no credit balances on maximum credit on her active accounts adds up to more than she is likely to pay, it
these accounts. these charge cards may could be difficult for her to get a loan.
impact her application for a loan because
they ?
which of the following statements is true the banks savings accounts interest rates change are influenced by the federal
about the interest rate paid on the money reserve system.
in a bank savings account?
during a recession, there is a decline in employment, total output, income, and trade
lasting from six months to a year. the recession phase is described as a decline in
a recession is characterized by ?
business activity or a downturn in the economy. if a recession becomes the server, it
is called a depression.
when a person's savings in bank accounts if the annual rate of inflation is 5% and the earned money in the savings is going to
are earning 2% interest and inflation is 5%. have less purchasing power at the end of the year. when interest rates are greater
the purchasing power of the person's than inflation, the purchasing power of the savings increases.
savings is?
a true statement about the relationship as stages or periods in a person's life change, their needs and desires change too
between budgeting and a person's stage of and their budgets need to reflect their priorities.
life is that ?
the most important factor in calculating the cost of the loan is the interest rates. it is
to get lowest cost loan for a an automobile
wise for a person to comparison shop for the lowest rated interest since the higher
, it would be wise to?
the interest rate, the more expensive the loan.
a true statement about the relationship as stages or periods of life change, their needs and desires change too and their
between budgeting and a person stage of budget must reflect their priorities.
life is that?
overdraft protection is a short term loan with a very high interest rate for checking
checking account overdraft protection at a
account owners that applied for and make use of the service. this service will pay
bank is an optional service that is?
checks when there are not sufficient funds in the checking account.
who benefits from trading securities in the investors benefit from trading stocks in the secondary market. most stocks and
secondary market? bonds are bought and sold by investors on the secondary market
U.s government has never defaulted on its debt obligations to its bondholders.
which of the following is the safest therefore in a Treasury bill are highly confident that the principal and interest will be
investment ? paid if held until the Treasury matures. preferred stocks and corporate bonds carry
risk that dividends or interest will not be paid.
a person buys a ford motor company $1,00, $1,000. a corporate bond investor generally has the right to receive semi-annual
20 year bond paying 9% interest for his interest until maturity and the $ 1,00 principle at the maturity date. this bond will pay 9
daughter. if he waits the full 20 years to percent interest yearly and the $1,00 principal at its maturity date to the bond owner.
redeem the bond for his daughter, the
value of the bond will be
this year, a person earned $50 in interest The interest earned on savings is considered taxable income. all taxable income
from his savings account. this interest must be reported to the internal revenue service(IRS) the federal agency in charge
income must be reported to the? of collecting taxes owed to the government.
when a person's savings in a bank account if the annual rate of inflation is 5% and the interest earned on money is 2%, the
are earning 2% interest and inflation is 5%, money in the savings is going to have less purchasing power at the end of the year.
the purchasing power of the person's when interest is greater than inflation, the purchasing power of the savings increases.
savings is?
a person has good financial health/ wellness when he has a positive net worth. thus,
financial well being means that a person
his assets have monetary value) total more than his liabilities(debt) assets can include
has?
but are not limited to money, stocks, bonds and real estate.
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