Financial Lit Unit #4

What is the organization that insures deposits at credit unions up to $250,000?

How do consumers benefit from using a checking account?

Setting aside income for future spending is known as:

Earning interest on interest is known as what?

An individual retirement plan where contributions are not tax deductible and qualified distributions are tax free:

What is compound interest?

What does online banking allow the consumer to do?

Money that is put aside for profit is known as:

What is the organization that insures deposits at banks up to $250,000?

What is the price of borrowing money called?

Funds deposited in a federally insured account (FDIC?NCUA) are protected for loss up to what amount?

Which financial principle helps you figure out how long it takes your money to double in value?

What is the difference between a back and credit union?

Which of the following is an employer-sponsored tax-sheltered retirement plan?

Interest earned for one year with a deposit of $1,500 and pays 5%. How much did you earn?

This is known as the rise in the general of prices:

How can banking from home be performed?

How can funds in a checking account be accessed other than at the bank in person?

When you spend more money than what is in your back account this occurs.

Investments that represent ownership in a company are called what?

What factors affects the time value of money?

What does "pay yourself first" mean?

These stocks are recognized companies, less risky, and grow at a consistent rate. Ex: McDonald's, Wal-Mart & Coke

This measures a stocks volatility compared to overall changes in the stock market?

A general rule that states that the higher the risk, the higher the potential return:

What is ownership in a company?

How liquid is a savings account?

What is a Reoccurring payment that is part of online banking?

Depository Institutions offer a wide variety of services including:

According to the rule of 72, if you earn 11% interest on a $5,000 investment, how long will it take to double?

What is savings?

What concept will help you know when your money will double in value?

If you are investing in the stock market and choose a lot of different companies to reduce risk, What is this called?

What are funds not spent and set aside, often on a regular basis, for later use and are more liquidable?

What is cash management?

What is the original amount of a loan on which interest is paid?

What is the cost of money that is borrowed and must be paid back?

What is the primary purpose of a checking account?

How are debit cards beneficial to the consumer?

The idea that money at the present time is worth more than the same amount in the future is what:

100 shares of stock for $78 per share. You sold it, for $92 per share. What is your gain after the sale?

This is used to access money in a Personal Checking Account

What does the 60-10-10 rule represent?

The relationship between the price of 1 stock and the annual earnings is what?

What do financial experts recommend you have in savings?