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51 Cards in this Set

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  • Back
One of the richest men in America
Warren Buffet
Who is worth 40 billion dollars
Warren Buffet
Where is Warren Buffet's company located?
Omaha, Nebraska
How long has Warren Buffet lived in the same, non-gated community?
over 50 years
T/F. Warren Buffet would rather eat at a burger than at a fancy restaurant.
True
What is the name of warren buffet's publicly traded company?
Berkshire Hathaway
FICO
Fair Isaac Company
DIJA
Dow Jones Industrial Average; reference point for determining the overall health and state of the US economy
When was DIJA created?
1896 with 12 stocks; today=30 blue chip stocks
How is Dow Average calculated?
by adding up the total stock prices of each company listed on the DOW and dividing by the number of companies
What is the symbol for Bank of America?
BAC
What is the symbol for boeing?
BA
3M symbol
MMM
Microsoft
MSFT
Apple
AAPL
Walmart symbol
WMT
Define S&P
500=stocks
Define NASDAQ composite.
100 Large capitalization projects
The Dow's movement
points v. dollars
a pool of money from thousands of investors to purchase stocks, bonds and other securities
mutual funds
the total value of securities the fund owns divided by the number of shares outstanding
NAV, net asset value
value funds
cheapest
growing funds
mildly above average revenue and earning growth
u.s. government bond funds-issued by the U.S. treasury or federal government agencies
US Gov Bond Funds
tax exempt bond funds issued by cities, states and other local gov agencies. As a result dividends are exempt from fed income taxes
municipal bond funds
highly liquid! Easy to pull out your money. Good place to park cash for a brief period of time
money market funds
When was the SSA established?
August 14, 1935
Who is covered under the SSA?
1) old age workers
2) victims of industrial accidents
3) unemployed
4) dependent mothers and children
5) the blind
6) physically handicapped
FICA
federal insurance contributions act
What is FICA
employer and employee fund account: 7.5% each, until you reach $102K limit by congress
Who was the first president to introduce a national health care plan?
Harry S. Truman
What percentage of those 65 or older have health insurance in america?
56%
What is the state governed healthcare program? Who is this for?
medicaid; low income
What is the federally governed healthcare program? Who is this for?
Medicare; elderly
Who is covered under medicaid?
1) low income
2) pregnant women
3) children under 19
4) people 65 or over
5) the blind
6) the disabled
7) nursing home patients
Who is covered under medicare?
1) 65 or over
2) anyone who has had kidney failure/longterm illness
3) permanently disabled/unable to work
What is the ideal outcome with stock market investments?
buy low, sell high
What should you do when looking to invest in stock market?
1) do homework; research company
2) set aside "negligible" money to invest
3) examine your values against company values
4) buy low, sell high
BK
bankruptchy
What is the worst thing that can happen to your credit report?
bankruptcy
How long does it take to get a clean start after bankruptcy?
7-10 years
What are the three major types of BK?
7-personal
11-some payments required
13-corporate BK
What is the corporate BK?
13
How should life insurance be viewed?
as income replacement
What are the three types of life insurance?
1) whole-permanent; can be paid for; saving included "cash value"
2) Universal-term insurance along with cash value
3) Term-least expensive; very little premium; no cash value add-ons
How do you calculate "need"?
1) Total debt
2) age of youngest child x years left till 18, multiplied by annual salary
"this for that"
opportunity cost
the sacrifice you have to make in a financial decision
opportunity cost
What is personal opportunity cost?
time used for one activity cannot be use for another activity
What is financial opp. cost?
spending vs. saving is an opp. cost
What is meant by time value of money?
increases in an amount of money as a result of interest earned