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Emerging Financial Markets- Unit 1 Review (A Mark Goodson/Bill Todman production) Flashcards | StudBud
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Emerging Financial Markets- Unit 1 Review (A Mark Goodson/Bill Todman production)
Emerging Financial Markets- Unit 1 Review (A Mark Goodson/Bill Todman production)
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Emerging Financial Markets unit 1 review
Flashcards
41 cards
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Practice quiz
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Questions
41
Answers
1
States use agencies and statutes to enforce consumer protection and may expand on federal laws.
False
True
2
Bloomberg, LP has a location in which nearby town?
South Brunswick
Plainsboro
Princeton
Skillman
3
What is a benefit of employment?
Job security
higher risk
project diversity
Independence
4
What does "too big to fail" mean?
Business so vital to the economy that it would be detrimental if it crashed
Low risk saving tool- boosts amount you earn in interest- keeps your money
Different types of loans are packaged together and sold as investments
An investment strategy using borrowed money
5
What is a potential downside of employment?
Greater Independence
Employee Benefits package
decision-making for employees depends on their rank in the organization
steady hourly income
6
Entrepreneurs' incomes stay static based on the busyness of their work schedules.
True
False
7
The Laffer Curve theory is sometimes derisively referred to as "Trickle-Down Economics".
False
True
8
The Knights Templar offered what financial service?
wire transfers
bond issuance
Investment management
letters of credit based on deposits
9
Which of these is one of the various types of banks?
Tax Banks
Warranty Banks
Security Banks
Commercial Banks
10
"A blender will blend as long as you are not blending rocks" is an example of
an implied warranty
an express warranty
a total warranty
an appliance warranty
11
Allocate ___% of your pretax income towards essential expenses
5
25
50
15
12
Law that regulates the sale of investment contracts ("securities") and requires issuers to disclose details of financing
Securities Act of 1933
Investment Advisers Act of 1940
Bank Secrecy Act of 1970
Securities Exchange Act of 1934
13
Regulates the collection of credit information, which is frequently used to determine mortgage and lending rates.
Fair Credit Reporting Act
Securities Act
Dodd-Frank Act
Housing Loan Act
14
It's important not to have flexibility in your budget for unexpected expenses.
True
False
15
Try to save __% of pretax income (including any employer contributions) for retirement.
15
50
5
25
16
What is the Fair Debt Collection Practices Act?
a federal law that limits actions of third-party debt collectors
federal law that regulates the collection of consumers' credit information
federal legislation to create the Federal Trade Commission (FTC)
federal legislation that has protection from consumers from banks
17
An express warranty
implies that an item will work
is a promise from the seller that an item will work for a specified period
is the hope an item will work for a specified period of time
is a quick warranty
18
Experian, TransUnion, and Equifax are
credit unions
credit reporting agencies
credit regulators
commercial banks
19
An implied warranty
expresses that there's a warranty
is usually avaiable at low cost
an item will work as long as it is used for the purpose it was sold
is ususlly not available for consumer goods
20
The Laffer Curve (illustrated) is used by supply-side economists to illustrate that...?
High indirect tax rates disincentivise effort
Tax cuts promote tax avoidance and evasion
At some point, direct tax increases will reduce tax revenue
Tax revenue always rises as tax rates rise
21
_________ is determined by several factors including your repayment history.
Creditworthiness
Credit card code
Cryptocurrency
Bank secrecy
22
Ensures that consumers are not deceived and harassed by telemarketers; created a national do-not-call database
Telephonic Reporting Act
Telecommunications Act
Telemarketer Act
Telephone Consumers Protection Act
23
A central bank is:
authorized by a government to oversee the nation's money supply
located downtown
loans money to the public
takes retail customer deposits
24
The FDIC insurance maximum is $200,000 per depositor, per insured bank, for each account ownership category.
True
False
25
The main federal agency designed to enforce consumer protection laws
Federal Deposit Insurance Corporation
Federal Trade Commission
Security Exchange Commission
North American Free Trade Agreement
26
What should you do before agreeing to a student loan?
Submit an application for another loan
Take time to understand the interest rates & repayment options offered
Pay back the loan in full
default on the loan
27
The Fair Credit Reporting Act...
Prohibits discrimination in giving credit.
Does not apply to debt collectors.
Protects the privacy and accuracy of information.
Ensures consumers are fully informed.
28
The name of our class is:
Emerging Financial Markets
Don't fight the Fed
Emerging Personal Finance
Stonks to the Moon
29
Theory suggesting an inverted-U shaped relationship between tax rates & amount of tax revenue collected by governments
Modern Monetary Theory
Laffer Curve Theory
Tax-and-Spend Theory
Modern Tax Theory
30
The Laffer curve predicts that
Top Tax rate rises generate less unemployment
At very high tax rates less revenue is generated
The tax rate will maximise tax if elastic
The tax rate will always be 20% in MEDCs
31
Discretionary expenses are also known as "need to haves".
True
False
32
The federal income tax was created by which Constitutional Amendment?
16
15
18
17
33
Protects buyers and renters of housing from being discriminated against by sellers, landlords, or financial institutions
Fair Credit Reporting Act
Financial Stability Oversight Council
The Fair Housing Act
Securities & Exchange Commission
34
Elements of a personal financial plan do not include budget for current income/expenses.
False
True
35
Banks profit by the spread between interest rates paid on deposits they take in, & received on the money they lend out.
False
True
36
Improving or maintaining your creditworthiness is as simple as making your payments on time each month.
False
True
37
Which is NOT one of the 3 types of basic banking services?
accounts payable
lending money
savings accounts
checking accounts
38
Taxation is
involuntary
optional
voluntary
not mandatory
39
Working for someone else is
employment
entrpreneurship
sole proprietorship
paid internship
40
The Dodd-Frank Wall Street Reform and Consumer Protection Act, usually shortened to "Dodd-Frank Act,"
added regulation to oversight
regulates the stock market
stepped up oversight of banks and financial institutions
oversees the Federal Reserve
41
A credit report-
extra credit
a medical test
Outlines your asset base
outlines your debts and repayments
