Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Personal Finance > Chapters 10-12 > Flashcards

Chapters 10-12 Flashcards

You may prefer our related Brainscape-certified flashcards:
Series 65 flashcards Series 63 flashcards Series 66 flashcards Series 7 Top-off Exam flashcards SIE Exam flashcards CFA flashcards Series 79 Top-Off Exam flashcards
0
Q

Free spirit or nerd?: number-oriented

A

Nerd

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
1
Q

Free spirit or nerd?: creative

A

Free spirit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Free spirit or nerd?: spontaneous

A

Free spirit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Free spirit or nerd?: rule follower

A

Nerd

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Free spirit or nerd?: less organized and not concerned about rules

A

Free spirit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Free spirit or nerd?: organized

A

Nerd

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Free spirit or nerd?: late for meetings, dates, appointments- most everything

A

Free spirit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Free spirit or nerd?: on time for everything

A

Nerd

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Free spirit or nerd?: easygoing

A

Free spirit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Free spirit or nerd?: slow and steady when making decisions

A

Nerd

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Men or women?: emergency funds are boring and not sophisticated enough

A

Men

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Men or women?: emergency funds are the most important key to our financial plan

A

Women

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Men or women?: get good deals by negotiating

A

Men

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Men or women?: get good deals by hunting

A

Women

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Men or women?: lose self esteem when money problems pop up

A

Men

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Men or women?: experience fear or even terror when money problems arise

A

Women

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is the number one cause of divorce in America?

A

Money fights

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Accountability

A

The quality or state of being responsible, liable or answerable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Value system

A

A person’s priorities, beliefs, and standards that affect how he or she views the world.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

When married people do not share goals and values in how they manage money, which of the following can happen?

A

Conflict, stress, and divorce

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

If you find a job you love:

A

1) You will make enough money to live

2) you’ll never work a day in your life

21
Q

Vocation

A

Career
Vocare (Latin): means “calling”
Your job is your calling from God

22
Q

What does the D in DISC stand for?

A

Decisive

23
Q

What does the I in DISC stand for?

A

Interactive

24
Q

What does the C in DISC stand for?

A

Cautious

25
Q

What does the S in DISC stand for?

A

Stabilizing

26
Q

What is DISC used for?

A

Employers use it for employment and job placement

27
Q

What are the five goal guidelines?

A

1) be measurable
2) be specific
3) have time limits
4) be your goals
5) be written down

28
Q

What are the 3 job searching circles

A
  1. Geography
  2. Industry
  3. Permanence
29
Q

What is the purpose of Federal income tax?

A

It is used to support government programs

30
Q

FICA tax

A

It pays for benefits that workers and families receive for either
1. Social Security
or
2. Medicare

31
Q

What is the primary tax on wealth?

A

Property tax

32
Q

Property Tax

A

The main source of revenue for local governments

33
Q

Sales tax

A

Tax on goods and services

34
Q

Earned income

A

Any income that is generated by working

35
Q

Portfolio income

A

Income generated by selling an investment at a higher price than you paid for it

36
Q

What does earned and portfolio incomes have in common?

A

They are both taxable

37
Q

Personal Branding

A

The process by which we “market” ourselves to others

38
Q

Income tax

A

Taxes paid by anyone who earns an income

39
Q

Cover letter

A

A letter that is always accompanied by a resume that is used to inform an employer of your interest and capabilities that relate to the job

40
Q

Resume

A

A brief account of one’s professional or work experience and qualifications

41
Q

Social security

A

A federal insurance program funded by taxpayer dollars that provides benefits to people who are retired, unemployed, or disabled

42
Q

Property taxes

A

Taxes paid by anyone who owns property

43
Q

IRS stands for

A

Internal Revenue Service

44
Q

What is the difference between gross pay and net pay?

A

Net pay describes your pay after deductions, gross pay is before

45
Q

Nonprofits

A

Organizations that use money raised rather than distributing them as profit

46
Q

Philanthropy

A

Means “love of humanity”, identifying and exercising one’s values in giving and volunteering

47
Q

Legacy

A

Anything handed down from the past, something that someone has achieved that continues to exist after they are gone

48
Q

Core values

A

Traits or qualities that represent an individual’s highest priorities

49
Q

What does tax deductible mean?

A

You don’t have to report that as income and you don’t pay tax on it

50
Q

What are examples of things that are tax deductible?

A
  1. Contributions at church

2. Tax deductible IRA’s

Personal Finance (4 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions