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85 Cards in this Set
- Front
- Back
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Which is not a valid reason why someone should invest their money? A. To earn extra money B. They want to beat inflation C.Profit is guaranteed D.It may be safer to save it
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C.Profit is guaranteed |
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which of the following is the best example of a fixed expense? A.Going out to eat B.Vacations C.cellular data plan D.clothes shopping
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C.cellular data plan |
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The most significant disadvantage of a CD is that they… A.have never paid more than the rate of inflation B. are heavily taxed at federal, state and local level C.have variable rates that often decrease over the life of the term D.Are not accessible without heavy fees or a life-changing event
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D.are not accessible without heavy fees or a life changing event
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True/False, moderate inflation usually indicates a poor economy overall
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False |
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Which of these is the least important consideration for the average investor A. franchise fees B.risk vs. reward C.diversification D.long-term return investment
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The FDIC is the most associated with an investor’s A.stock portfolio B.audit C.capital gains D.savings account
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Sandy invests $24,329 into an account that pays 5% annually and is compounded. how many years will it take for her money to invest? A.53 B.26 C.14 D.39
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Credit unions claim to have several advantages over banks, except A.their non-profit status B.the number of ATM locations C.lower interest rates D.lower fees
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B.the number of ATM locations
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Which of these has the most impact on one’s credit score? A.past payment history B. savings/checking account balance C.level of education D. annual income
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A.past payment history
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One of the main functions of the federal reserve system is to A.issue welfare payments to individuals B.maintain the stability of the financial system C.pass legislation that controls the banking system D.hear court cases about bankruptcy proceedings
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B.maintain the stability of the financial system
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The most significant advantage of mutual funds is they A.are usually never taxed B.have no minimum buy-in C.are guaranteed to profit D.may be less risky |
D.may be less risky
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Bonds are used by governments or corporations in order to A.invest for the future B.generate immediate income C.help out the country’s citizens D.escape taxation
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B.generate immediate income
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Which of these is not a major difference between a roth IRA and a 401k A.how they are taxed by the gov. B.the risk vs. reward of their investment options C.how accessible the funds are before retirement D.the possibility of employer contribution
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C.how accessible the funds are before retirement
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What is the difference between a college and a university?
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College- grants only bachelors degrees University- grant bachelors, masters degrees, PhDs, and professional licenses
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What is a GED? |
General Education Development >What you get if you didn’t graduate or were unable to graduate high school
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How is a masters degree different than a bachelors degree? |
A masters degree is an additional 2 years of study in an area
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How is a associates degree different from a bachelors degree?
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An associates degree is a two year degree you get from a community college and a bachelors degree is a four year degree you get from a college or university
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What are the 5 branches of the military?
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Army Navy Air Force Marines Coast Guards |
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How are public schools funded?
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Tuition, supported by state of MN
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How are private schools funded? |
Tuitions, donors, etc. |
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What are 4 reasons someone would enlist in the military?
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Pay for school education adventure part of family/community |
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Agriculture and Natural Sciences (Career Cluster) |
Mining engineer, animal breeder, logger, animal trainer |
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Architecture and Construction (Career Cluster) |
Architect, electrician, surveyor, urban planner |
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Arts, Audio/Video Technology and Communications (Career Cluster) |
actor, animator, journalist, audio designer, musician |
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Business and Administration (Career Cluster) |
Accountant, Receptionist, Interviewer |
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Education and Training (Career Cluster) |
Teacher, corporate trainer, physical trainer |
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Finance (Career Cluster) |
Stockbroker, financial advisor, actuary, insurance agent |
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Government and Public Administration (Career Clusters) |
bank examiner, legislator, IRS agent, solider or sailor |
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Health Science (Career Clusters) |
chiropractor, health education, audiologist, pharmacist |
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Hospitality and Tourism (Career Clusters) |
travel agent, chef, lifeguard, athlete, waitress |
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Human Services (Career Clusters) |
counselor, social worker, massage therapist, wedding consultant |
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Information Technology (Career Clusters) |
webmaster, programmer, data analyst, network administrator |
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Law and Public Safety (Career CLuster) |
police officer, firefighter, judge, security guard, lawyer |
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Manufacturing (Career Cluster) |
Sheet metal worker, instrument maker |
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Retail/Wholesale Sales and Service (Career Cluster) |
Retail buyer, traffic clerk, sales supervisor, marketing manager |
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Scientific Research and Engineering (Career Cluster) |
astronomer, biologists, engineer |
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Transportation, Distribution, and Logistics (Career Clusters) |
bus driver, truck driver, ship captain |
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What is the difference between a skill and an aptitude? |
Skill- ability to do something (Realization of an aptitude) Aptitude- ease at which a person can learn to do something |
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5 steps of decision making process? |
- Define problem - List Alternatives - Specify criteria - Evaluate Criteria -Choose best alternative |
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Numerical (Aptitude) |
performs math operations quickly |
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Verbal (Aptitude) |
understand meanings of words and uses them effectively |
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Form Perception (Aptitude) |
Ability to perceive details in objects |
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Spatial (Aptitude) |
think visually of geometric forms |
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Finger Dexterity (Aptitude) |
ability to move fingers and manipulate small objects with fingers |
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Manual dexterity (Aptitude) |
ability to move hands easily and skillfully |
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Secrets of a straight A student |
-good study habits -ask teachers for help -put studying before everything |
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Difference between opportunity cost and opportunity benefit |
Cost- What you miss out on Benefit- What you gain |
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Tips for successful interview |
- Dress nice - Be early - Don't ask salary |
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When people apply for job, what do they send w/ application? |
-Cover letter -Resume -Thank you letter |
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Purpose to writing cover letter |
show interest in the job |
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What do you write on an application if the portion does not apply to you? |
N/A |
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What does FICA stand for? |
Federal Insurance Contributions Act |
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IRS |
Internal Revenue Service
(TAX POLICE) |
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What is a W-2 form |
a form stating your gross income and all of the amounts withheld (wage and tax statement) |
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1040/1040 EZ form |
federal income tax form |
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What are the 6 personality types from Hollands personality test? |
*Realistic *Investigative *Artistic *Social *Enterprising *conventional |
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What does the SMART acronym stand for? |
Specific Measurable Attainable Relevant Timely |
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Interests |
Positive feeling you have about something |
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Values |
Personal standards that you believe are important and worth while |
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Personality |
a combo of all your interests, values, behaviors and characteristics that make you unique |
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Lifestyle |
the way you live |
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Why are taxes necessary? |
*pay for public goods *correct problems (jails) *stabilizes our economy |
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Sales tax |
Tax on sales |
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Gross pay |
your payment before deductions |
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Income tax |
Government tax |
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Property tax |
Taxes on property you own |
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estate tax |
taxes that i inherit from things deceased people give to me |
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excise (sin tax) |
taxes paid when purchases are made on specific goods |
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Net pay |
Your payment after deductions |
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w-4 |
A form completed by an employee to indicate his or her tax situation to the employer. |
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What is a public good? |
National defense |
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What is a progressive tax? |
A tax that takes a larger percent of higher incomes and a smaller percent of lower incomes |
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What is a regressive tax? |
generally a tax that is applied uniformly |
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What is the u.s income tax system? |
Progressive tax |
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Where does our federal government collect a majority of their revenue from? |
buisnesses |
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Interest |
money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt. |
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Liquidity |
the availability of liquid assets to a market or company. |
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Principle |
the amount of money deposited by the saver |
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Rule of 72 |
how long it takes for your money to double |
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P.Y.F. |
Pay yourself first |
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Sole proprietorship |
Business owned by one person |
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Partnership |
Co-owned by 2 or more people |
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L.L.C. |
Limited liability company |
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corporation |
business owned by a group of stockholders |
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franchise |
an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities |
