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Study sets matching "financial literacy chapter 8"

29 terms
Financial Literacy - Chapter 8 - Terms
advance-fee loans
annual fee
balloon payment
billing cycle
a type of loan that includes a large upfront fee
a yearly charge to your account for membership
a large lump-sum payment that must be paid at a set time
time period during which you must make your monthly payment
advance-fee loans
a type of loan that includes a large upfront fee
annual fee
a yearly charge to your account for membership
13 terms
Personal Financial Literacy Chapter 8
Baby Boom
Business Cycle
Consumer Price Index
Demographics
A period of high birthrates that occurred between 1946 and 1964
The economic pattern of alternating periods of shrinking and…
The formal measure of prices used to calculate inflation that…
The study of human populations
Baby Boom
A period of high birthrates that occurred between 1946 and 1964
Business Cycle
The economic pattern of alternating periods of shrinking and…
18 terms
Financial Literacy Chapter 8
Adjustable Rate Mortgage
Mortgage
Secured Loan
Balloon Payment
A type of mortgage loan that has an interest rate that can ch…
A debt instrument that is used to secure financing of a house…
A loan for which property has been pledged as collateral.
A large payment that is much larger than other loan payments…
Adjustable Rate Mortgage
A type of mortgage loan that has an interest rate that can ch…
Mortgage
A debt instrument that is used to secure financing of a house…
12 terms
Financial Literacy Chapter 8
Business Cycle
Economics
Economy
Microeconomics
Alternating periods of shrinking and growth in the economy
Study of choices
System in which individuals, businesses, governments and the…
Individual choices made by smaller units
Business Cycle
Alternating periods of shrinking and growth in the economy
Economics
Study of choices
15 terms
Financial Literacy Chapter 8
Disposable income
Financial Plan
Budget
Fixed Expenses
money you have left to spend or save after taxes
goal for spending, saving, and investing money made
spending and saving plan based on income and expenses
costs obligated to pay, and never change (rent)
Disposable income
money you have left to spend or save after taxes
Financial Plan
goal for spending, saving, and investing money made
34 terms
financial literacy chapter 8
money markets are great for emergency…
purpose of war bonds- finance military…
last time war bonds were used was in t…
mutual fund portfolio that is properly…
true
true
false
false
money markets are great for emergency…
true
purpose of war bonds- finance military…
true
10 terms
Chapter 8 Financial Literacy
Diversification
Investing
Investment
Portfolio
The practice of dividing the money a person invests between s…
The process of setting money aside to increase wealth over ti…
Account or arrangement in which a person puts his/her money f…
A list of your investments
Diversification
The practice of dividing the money a person invests between s…
Investing
The process of setting money aside to increase wealth over ti…
17 terms
Financial Literacy- Chapter 8
disposable income
financial plan
budget
fixed expenses
the money you have left to spend or save after taxes and othe…
a set of goals for spending, saving, and investing the money…
a spending and saving plan based on your expected income and…
are costs that do not change from month to month
disposable income
the money you have left to spend or save after taxes and othe…
financial plan
a set of goals for spending, saving, and investing the money…
19 terms
Chapter 8 Financial Literacy
financial plan
disposable income
budget
database
an orderly program for spending, saving, and investing the mo…
money you have to spend as you wish after all required deduct…
an organized plan whereby you match your expected in one with…
a computer program that organized data for easy search and re…
financial plan
an orderly program for spending, saving, and investing the mo…
disposable income
money you have to spend as you wish after all required deduct…
52 terms
Personal Financial Literacy Chapter 8
diversification
investing
investment
liquidity
the practice of dividing the money a person invests between s…
the process of setting money aside to increase wealth over ti…
account or arrangement in which a person puts his/her money f…
quality of an asset that permits it to reconverted quickly in…
diversification
the practice of dividing the money a person invests between s…
investing
the process of setting money aside to increase wealth over ti…
29 terms
Chapter 8 Vocabulary Financial Literacy
Unused Credit
trade-in
Shared Responsibility
Security Deposit
The difference between your credit card limit and your curren…
Something of value applied towards the down payment of a new…
An agreement between two or more people to bear a portion of…
A refundable amount paid to cover damages to property caused…
Unused Credit
The difference between your credit card limit and your curren…
trade-in
Something of value applied towards the down payment of a new…
17 terms
Financial Literacy Chapter 8 Vocabulary
Assets
Budget
Co-Signer
Consideration
Items of value that a person owns.
A spending and saving plan based on your expected income and…
A person who agrees to pay the debt of another person.
Something of value exchanged for something else of value.
Assets
Items of value that a person owns.
Budget
A spending and saving plan based on your expected income and…
18 terms
History, Financial Literacy chapter 8
Logistics
security deposit
contract
Eviction
is the act of making a plan and carrying it out to ensure tha…
is a refundable amount paid to cover possible damages to prop…
is a legally binding agreement that specifies the rights and…
the process of expelling a tenant from the rented property.
Logistics
is the act of making a plan and carrying it out to ensure tha…
security deposit
is a refundable amount paid to cover possible damages to prop…
13 terms
Personal Financial Literacy Chapter 8
Baby Boom
Business Cycle
Consumer Price Index
Demographics
A period of high birthrates that occurred between 1946 and 1964
The economic pattern of alternating periods of shrinking and…
The formal measure of prices used to calculate inflation that…
The study of human populations
Baby Boom
A period of high birthrates that occurred between 1946 and 1964
Business Cycle
The economic pattern of alternating periods of shrinking and…
17 terms
Financial Literacy Chapter 8 Study Guide
disposable income
financial plan
budget
fixed expenses
the money you have left to spend or save after taxes and othe…
a set of goals for spending, saving, and investing the money…
a spending and saving plan based on your expected income and…
costs that do not change from month to month
disposable income
the money you have left to spend or save after taxes and othe…
financial plan
a set of goals for spending, saving, and investing the money…
15 terms
Financial Literacy - Chapter 8 Review Guide
closed-end credit
5 C's of Credit
Character
Capacity
credit as a one-time loan that you will pay back over a speci…
Character... Capacity... Capital... Collateral... Conditions
will you repay the loan? Creditors want to know what kind of…
can you repay the loan? If you already have a large amount of…
closed-end credit
credit as a one-time loan that you will pay back over a speci…
5 C's of Credit
Character... Capacity... Capital... Collateral... Conditions
10 terms
Ch8 Financial Literacy Vocab
Auction
Consignment shop
Estate sale
Foreclosures
a public sale in which property or items of merchandise are s…
retail store where people sell items and the owner of the sho…
type of yard sale with more items, usually the entire content…
process by which the holder of a mortgage sells the property…
Auction
a public sale in which property or items of merchandise are s…
Consignment shop
retail store where people sell items and the owner of the sho…
50 terms
Financial Literacy Lesson 8 Vocabulary
Amortization
Annual percentage rate APR
Car title loan
Collateral
process of paying down a loan with payments that include both…
annual percentage rate applied to the balance on a loan compo…
a high interest,... short term loan of cash for which an automob…
something which is pledged to secure repayment of a loan; in…
Amortization
process of paying down a loan with payments that include both…
Annual percentage rate APR
annual percentage rate applied to the balance on a loan compo…
28 terms
Financial Literacy - Chapter 7 - Terms
access checks
balance transfer
buying plan
cancellation fee
checks provided by a credit card company that allow you to bo…
moving a balance from one credit card account to another
an organized method for making good buying decisions
a penalty for closing your account prior to a stated period
access checks
checks provided by a credit card company that allow you to bo…
balance transfer
moving a balance from one credit card account to another
41 terms
Financial Literacy - Chapter 3 - Terms
advertising
bait and switch
banner ads
branding strategy
informing consumers about products and encouraging them to buy
an illegal sales technique in which the business advertises a…
Internet ads that span the top, bottom, or sides of a web page
carrying well-known brand names to attract customers who are…
advertising
informing consumers about products and encouraging them to buy
bait and switch
an illegal sales technique in which the business advertises a…
30 terms
Financial Literacy - Chapter 10 - Terms
bear market
bond
bull market
contingencies
period in the stock market when prices are steadily decreasing
a debt instrument issued by a corporation or government
period in the stock market when prices are steadily increasing
unplanned or possible events
bear market
period in the stock market when prices are steadily decreasing
bond
a debt instrument issued by a corporation or government
30 terms
Financial Literacy - Chapter 6 - Terms
automobile insurance
beneficiary
collision coverage
comprehensive coverage
a policy that protects a car owner from losses as a result of…
the person designated to receive money from a life insurance…
a policy that protects against damage to your own vehicle if…
protection against damages to your car from causes other than…
automobile insurance
a policy that protects a car owner from losses as a result of…
beneficiary
the person designated to receive money from a life insurance…
30 terms
Financial Literacy - Chapter 4 - Terms
assets
benchmarks
budget
cash inflows
money and items of value that you own
standards against which progress is measured
a spending and saving plan based on expected income and expen…
income from your job, investments, and other sources
assets
money and items of value that you own
benchmarks
standards against which progress is measured
46 terms
Financial literacy chpt 8
Baby Boom
Business Cycle
Consumer Price Index
Demographics
A period of very high birthrates that occurred between 1946 a…
The economic pattern of alternating periods of shrinking and…
The formal measure of prices used to calculate inflation that…
The study of human populations
Baby Boom
A period of very high birthrates that occurred between 1946 a…
Business Cycle
The economic pattern of alternating periods of shrinking and…
10 terms
Financial Literacy Chp.8
Shared responsibility
Roommate
Living habits
Logistics
An agreement between two or more people to bear a portion of…
A person with whom you share living space and responsibilities.
Your daily routine, or the way you choose to live your life.
The act of making a plan and carrying it out to ensure an eve…
Shared responsibility
An agreement between two or more people to bear a portion of…
Roommate
A person with whom you share living space and responsibilities.
17 terms
Chapter 8 - Budgets & Financial Records
Assets
Budget
Co-Signer
Consideration
Items of value that a person owns.
A spending and saving plan based on your expected income and…
A person who agrees to pay the debt of another person.
Something of value exchanged for something else of value.
Assets
Items of value that a person owns.
Budget
A spending and saving plan based on your expected income and…
30 terms
Financial Literacy - Chapter 5 - Terms
annuity
bank reconciliation
bounced check
cashier's check
a fixed amount set aside on a regular basis over time; a cont…
the process of adjusting the checkbook register and bank stat…
a check that is not honored by a bank and is returned to the…
a check issued against the bank's funds
annuity
a fixed amount set aside on a regular basis over time; a cont…
bank reconciliation
the process of adjusting the checkbook register and bank stat…
31 terms
Financial Literacy - Chapter 1 - Terms
business cycle
contact
cover letter
demand
the alternating periods of growth and decline in the economy
a person you know, such as a relative or friend
a letter that accompanies a resume, introducing the applicant…
the willingness and ability of consumers to buy goods and ser…
business cycle
the alternating periods of growth and decline in the economy
contact
a person you know, such as a relative or friend
61 terms
Personal Financial Literacy Chapter 10
Adjustable Rate Mortgage
Annual Percentage Rate
Collateral
Cosigner
Mortgage with a rate that may go up or down. Rate changes at…
Interest rate that shows what a borrower is actually paying w…
Assets that have been pledged against a loan repayment.
A person, other than the original borrower who signs for a lo…
Adjustable Rate Mortgage
Mortgage with a rate that may go up or down. Rate changes at…
Annual Percentage Rate
Interest rate that shows what a borrower is actually paying w…
43 terms
Personal Financial Literacy - Chapter 9
Credit
Credit Bureau
Credit Report
Credit Score
Money that a lender makes available to a borrower with the un…
Organizations that collect credit information about individua…
Summarizes an individual's existing and past credit history,…
A numeric score that uses your credit history to assess your…
Credit
Money that a lender makes available to a borrower with the un…
Credit Bureau
Organizations that collect credit information about individua…
46 terms
Personal Financial Literacy - Chapter 11
Annual fee
Bankruptcy
Cash advance
Credit card
Charged by credit cards companies for the privilege of using…
A legal process in which a court takes over some of the finan…
The ability to use a credit card to withdraw cash from a bank…
Provides individuals with revolving open-end credit, which th…
Annual fee
Charged by credit cards companies for the privilege of using…
Bankruptcy
A legal process in which a court takes over some of the finan…
45 terms
Personal Financial Literacy Chapter 5
Associate's Degree
FAFSA
Good Debt
Grant
An undergraduate academic degree awarded by colleges upon com…
a form that is completed annually by current and prospective…
a money myth that portrays student loans as the only financia…
A form of federal or state financial aid that does not need t…
Associate's Degree
An undergraduate academic degree awarded by colleges upon com…
FAFSA
a form that is completed annually by current and prospective…
35 terms
Financial Literacy Chapter 9
Alternative Dispute Resolution
Bankruptcy
Bankruptcy Fraud
Chapter 11 Bankruptcy
A method of settling a dispute using a neutral third party.
A legal procedure to relieve a person of excessive debt.
The abuse of bankruptcy laws in a way that favors the debtor…
Reorganization of debt as decided by the court so that a busi…
Alternative Dispute Resolution
A method of settling a dispute using a neutral third party.
Bankruptcy
A legal procedure to relieve a person of excessive debt.
9 terms
Unit #8 Financial Literacy
Charity
income
spending
credit
giving money to help others
Money earned for work people do.
Paying money for goods such as food and clothes or services s…
When you buy something on credit you pay for it later (with i…
Charity
giving money to help others
income
Money earned for work people do.
24 terms
Financial Literacy Chapter 6-8
Policyholder
Premium
Preexisting condition
Recession
Person who buys a health insurance policy or subscribes to it…
Regular payments paid to an insurance company in return for c…
Health condition that existed before an individual's policy w…
A period of time in which the economy is shrinking.
Policyholder
Person who buys a health insurance policy or subscribes to it…
Premium
Regular payments paid to an insurance company in return for c…
19 terms
Financial Literacy Chapter 11
Investing
Portfolio
Diversification
Investing risk
The use of the long-term savings to earn a financial return
Collection of investments
The spreading of risk on many types of investments
The chance that an investment though you will decrease
Investing
The use of the long-term savings to earn a financial return
Portfolio
Collection of investments
83 terms
Financial Accounting Chapter 8
Acid-test ratio
Commercial paper
Contingencies
Contingent gain
Cash, current investments, and accounts receivable divided by…
Borrowing from another company rather than from a bank
Uncertain situations that can result in a gain or a loss for…
An existing uncertain situation that might result in a gain
Acid-test ratio
Cash, current investments, and accounts receivable divided by…
Commercial paper
Borrowing from another company rather than from a bank
25 terms
Financial Literacy: Chapter 5
Monetary Asset Management
Liquidity
Financial Services Industry
Depository Institutions
How you handle your monetary assets
Ease with which an asset can be converted to cash
Companies that provide monetary asset management and other se…
Organizations licensed to take deposits and make loans
Monetary Asset Management
How you handle your monetary assets
Liquidity
Ease with which an asset can be converted to cash
17 terms
Chapter 8: Budgets and Financial Records
Assets
Budget
Co-Signer
Consideration
Items of value that a person owns.
A spending and saving plan based on your expected income and…
A person who agrees to pay the debt of another person.
Something of value exchanged for something else of value.
Assets
Items of value that a person owns.
Budget
A spending and saving plan based on your expected income and…
82 terms
Financial Literacy Chapter 7,8,9
Spending Limit
chapter 11
chapter 13
closed-end credit
maximum amount you are wiling to pay
bankruptcy for businesses reorganization of debts to determin…
Individual debt adjustment, repayment plan for portion of the…
A loan or extension of credit in which the proceeds are dispe…
Spending Limit
maximum amount you are wiling to pay
chapter 11
bankruptcy for businesses reorganization of debts to determin…
Financial Literacy 8: Spending Plans Vocabulary
Bank Statement
Budget
Capital Resources
Checking Account
A monthly accounting document that lists your beginning accou…
A spending and saving plan.
Man-made goods that are produced for the purpose of producing…
A "demand" account that allows a customer to deposit and with…
Bank Statement
A monthly accounting document that lists your beginning accou…
Budget
A spending and saving plan.
29 terms
Financial Literacy Grade 8
income
money management
stock
budget or spending plan
the money you earn or received... $$$$
the process of planning, and controlling your money
a share of a corporation sold to the public
a plan/statement for that helps you manage spending, saving,…
income
the money you earn or received... $$$$
money management
the process of planning, and controlling your money
Financial Literacy 8: Credit Terms
Bad Credit
Credit Limit
Good Credit
Opportunity Cost
A situation in which lenders believe that , due to a borrower…
The maximum dollar amount the lender is willing to make avail…
A situation in which lenders are willing to make loans to an…
The next-best alternative that is given up when a choice is m…
Bad Credit
A situation in which lenders believe that , due to a borrower…
Credit Limit
The maximum dollar amount the lender is willing to make avail…
31 terms
Financial Literacy: Chapter 9 - Vocab
Alternative Dispute Resolution (ADR)
Bbankruptcy
Bankruptcy Fraud
Chapter 11 Bankruptcy
A method of settling a dispute using a neutral third party
A legal procedure to relieve a person of excessive debt
The abuse of bankruptcy laws in a way that favors the debtor…
reorganization of debt as decided by the court so that a busi…
Alternative Dispute Resolution (ADR)
A method of settling a dispute using a neutral third party
Bbankruptcy
A legal procedure to relieve a person of excessive debt
Financial Literacy 8: Credit - Types of Credit
Credit Card
Installment Loan
Student Loan
Mortgage
A card that may be used repeatedly to borrow money or buy pro…
A direct payment of cash made to a consumer who agrees to rep…
A tax-deferred loan designed to help students pay educational…
A loan to buy a home, land, or any other real property.
Credit Card
A card that may be used repeatedly to borrow money or buy pro…
Installment Loan
A direct payment of cash made to a consumer who agrees to rep…
18 terms
Financial Literacy 8
Adjustable Rate Morgage
Closing Costs
Equity Loan
Fixed Rate mortgage
A mortgage for which the interest rate changed in response to…
The expenses incurred in transferring ownership from buyer to…
A consumer loan secured by a second mortgage, allowing home o…
A mortgage on which interest rate does not change
Adjustable Rate Morgage
A mortgage for which the interest rate changed in response to…
Closing Costs
The expenses incurred in transferring ownership from buyer to…
31 terms
Financial Literacy - Chapter 4 - Terms
assets
benchmarks
budget
cash inflows
money and items of value that you own
standards against which progress is measured
a spending and saving plan based on expected income and expen…
income from your job, investments, and other sources
assets
money and items of value that you own
benchmarks
standards against which progress is measured
12 terms
chapter 8 financial Lit vocab
credit history
credit bureau
subscribers
credit report
is the complete... record of your borrowing and repayment... perfor…
is a business that... gathers, stores, and sells credit... informat…
>Credit bureaus gather information from businesses,... >pay a mo…
is a written statement of... a consumer's credit history, issued…
credit history
is the complete... record of your borrowing and repayment... perfor…
credit bureau
is a business that... gathers, stores, and sells credit... informat…
10 terms
Personal Financial literacy ch 8
Auction
consignment shop
estate sale
foreclosure
a public sale in which property or items of merchandise are s…
retail store where people sell items and the owner of the sho…
type of yard sale with more items, usually the entire content…
process by which the holder of a mortgage sells the property…
Auction
a public sale in which property or items of merchandise are s…
consignment shop
retail store where people sell items and the owner of the sho…
33 terms
Financial Literacy - Chapter 1 - Terms
Job Market
Skill Set
Hard Skills
Soft Skills
refers to the job openings that are available when you are re…
The unique skills and abilities that you bring to the job mar…
measurable physical and mental abilities that allow you to co…
nontechnical skills needed by most workers for success on the…
Job Market
refers to the job openings that are available when you are re…
Skill Set
The unique skills and abilities that you bring to the job mar…
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