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23 Cards in this Set
- Front
- Back
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Dealing with the uncertainty of a loss |
Risk management |
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Determining if you can get a loan based on 5 characteristics (Ca, Ca, Co, Co, Cha) |
Capital, Capacity, Condition, Collateral, Character |
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A plan to reimburse you for unexpected losses |
Insurance |
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Signing your name on the back of a check |
endorsement |
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A spending plan to track your money |
budget |
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A record of your transactions in your checking account |
check register |
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The bank adding money to a previous account balance |
Compounding |
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Types of abilities that you take from job to job |
Transferable skills |
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Saving money to be used for financial goals |
PYF Pay yourself First |
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The five step process used to prepare short, medium, long term goals. (SMART goals) |
Specific, Measure, Achieve, Real, Time |
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What do you pay out of pocket for an insurance claim |
Deductable |
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What is the maximum amount of money you should owe each month for a loan payment? |
10% of net income |
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What are the three credit reporting agencies |
Equifax, Experian, Transunion |
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What does the Truth in Lending Act protect? |
You must know why you've been turned down for a loan |
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What do you do if you can't find your credit card? |
Notify the Credit Card company ASAP |
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To choose a career and plan financially... |
Plan your work, work your plan |
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A major factor in helping you achieve your financial goals? |
Your job choice |
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What is the Rule of 72 |
Double your money |
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The basic rule of risk to return is |
The higher the risk, the higher the return |
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In managing risk, what does it mean to transfer it |
Shift it between lots of people |
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Liability means |
You are responsible |
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What does Liability protect you from? |
Lawsuits |
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To prevent you from raising your earning power... |
No change in your career |
