basicly you paste whatever is in your cache. all you do is hold ctrl (command for us mac users) and hit v!
no cheating or editing and ill start;
Study this material for personal finance
Same ideas as ?’s but not actual ?’s
What is an emergency fund?
Reserve set away that cant be spent.
Definition of a budget?
Alloting a specific amount of money to a specific thing.
What is meant by “net worth?
Total worth including assets
5 variables to help project future amounts?
Amount of investment
Time investment will end
FICA= medicare+social security
6.2% for social security
1.45% for medicare
What are itemized deductions?
Specific expenses that can be deducted to reduce taxable income.
What is major difference between credit union and bank?
Key factors when choosing an ATM?
The federal reserve bank loans to commercial banks at a “discount” rate.
Commercial banks loan to its best customers at “prime” rates
What are the 3 major credit bureaus?
What is credit report that uses all 3 major bureaus
FICO ranges from 300-850 for final exam purposes
What is PITI?
Escrow Acct <
What is the name for the type of credit that most credit card companies offer
What is the name for the window of time on a credit card before interest starts?
Interest free grace period
What are the key elements of a valid loan contract?
Amount of loan
What are the various kinds of mortgages?
What % of equity can be accessed for a second mortgage?
What is collateral?
Assets of a borrower that back a loan.
What is the significance of APR?
Allows you to easily compare financing costs among various possible creditors.
What is the major difference between a secured and an unsecured loan?
Secured is backed by collateral, unsecured is not
What are the key factors that go into the selection of a home?
What mortgage amount can you afford?
What maturity should you select?
Fixed rate or ARM
What are point?
Points are optional
Point = 1% of loan
0 Points = 6.5%
.5 Points = 6.25%
1 Point = 5.75%
2 Points = 5%
What are the various types of first mortgages?
What is escrow
As it relates to mortgages
What are the 4 different types of automobile coverage?
What is the purpose of an umbrella insurance policy?
What are the various types of employer sponsored health care programs?
What are the various types of government health care programs?
What is the purpose of long term care insurance?
What are the various types of life insurance?
Study grid about stocks, and bonds
From first couple weeks of notes
What is a prospectus?
Limit order is saying if a specific event occurs such as stock hits $*** then buy/sell
Market order is buying today
Buying on margin is a loan form brokerage
Margin call is brokerage saying you owe to much money and need to pay it off before trading again
What is PMI?
As it relates to mortgages
What does par or face value mean?
As it relates to bonds
Know the various types of bonds
What is market capitalization or market cap?
And what are the 3 levels of it?
The price of a share of a mutual fund is determined by NAV.
NAV+ a share of a mutual fund
What is a social responsibility fund?
What is the standard disclaimer stamped on all legal financial documents
Past performance is not a guarantee of future results
A no load fund is a mutual fund that charges less than .25% fees
What is the earliest age someone can start taking ss benefits?
And what are the
Know difference between ROTH, and traditional IRA
Roth ira pay taxes now, traditional pay taxes when money is taken out.
What is a cadisol, and what is probate?
What are standard family trusts used for?
lol, studying for finance finals