Final Exam Review: Econ Enriched CHS

Question 1

This is the name for the payment schedule that the bank creates for your mortgage payments.

Accepted Answer

amortization schedule

Question 2

This type of order has the stockbroker buy or sell at any price

Accepted Answer

market order

Question 3

With this type of mortgage the interest rate remains constant over the term of the loan.

Accepted Answer

fixed-rate mortgage

Question 4

Buying these can help to decrease the interest rate on a mortgage

Accepted Answer

points

Question 5

An advantage of this form of business is that there is limited liability for stockholders

Accepted Answer

corporation

Question 6

The face value assigned to a stock by the company

Accepted Answer

par value

Question 7

This type of card allows you to withdraw money from your checking account

Accepted Answer

debit card

Question 8

This form of currency is backed up by a set amount of a precious metal held in reserve

Accepted Answer

representative currency

Question 9

Examine this stock quotation: what would be the dividend if you held 100 shares?

Accepted Answer

$188

Question 10

Which of the following is an example of a charge card?

Accepted Answer

American Express

Question 11

The value of this form of currency depends on the material with which it is made.

Accepted Answer

commodity currency

Question 12

This is the dollar amount assigned to a stock when it is first issued.

Accepted Answer

par value

Question 13

his type of stock grants voting privileges in board member elections, but pays no set dividend

Accepted Answer

common stocks

Question 14

Stocks of a nationally recognized, financially sound company

Accepted Answer

blue chip stock

Question 15

This type of stock pays a set dividend but does not grant voting privileges.

Accepted Answer

preferred stock

Question 16

What is the most common business type in the United States?

Accepted Answer

sole proprietorship

Question 17

This form of currency declared legal tender, but not backed by a precious material

Accepted Answer

fiat currency

Question 18

Companies usually sell stock in order to:

Accepted Answer

raise money

Question 19

This is the person who receives your life insurance benefits.

Accepted Answer

beneficiary

Question 20

Examine the stock quotation: what is the lowest price it has sold for over the past year?

Accepted Answer

$73.05

Question 21

current (stock) price as determined by supply & demand

Accepted Answer

market value

Questions 21