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Chapter 4 study guide
Terms in this set (16)
The type of investment that represents a small piece of ownership of a company.
The type of investment that is considered a debt instrument
Involves a pool of money collected from a group of investors
Certificates of Deposit
A type of savings account where you leave your money alone for
a long period of time
Which type of investment carries the greatest risk?
Where is the best place to keep your emergency fund?
Money market account
a sum of money paid regularly (typically quarterly) by a company to its shareholders out of its profits (or reserves).
What your insurance pays for when there is an accident or meets the terms of
The money you pay for an insurance policy
a payment made by a beneficiary (especially for health services) in addition to
that made by an insurer
7 types of insurance
Homeowner's/Renter's Insurance. ...
Auto Insurance. ...
Health Insurance. ...
Disability Insurance. ...
Long-Term Care Insurance. ...
Identity Theft Protection. ...
Explain why a savings account is not a good option for long term wealth building.
When you put money into a savings account, it will gain only a small amount of interest. If you
invest money in something like a mutual fund, your money stands to earn more interest over the long term
Ways to protect yourself from identity theft
Shred your documents. ...
Strengthen your passwords. ...
Check your credit reports. ...
Guard your Social Security number. ...
Be smart about social media. ...
Secure your phone. ...
Know the signs of phishing. ...
Monitor your financial statements.
2 ways a thief can access your personal information.
1. A stolen wallet or purse
What is the purpose of liability insurance?
Protects you if someone sues you because they were hurt on your property or as a result of an accident in which you are at fault.
Related to insurance, what is a deductible and how does it work?
A portion of the bill you must pay before the insurance company will pay their part.
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