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Economics > Everfi More3 > Flashcards

Everfi More3 Flashcards

1
Q

Earning Potential

A

The more money you invest in higher education = higher pay in the workforce

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2
Q

Scholarships

A

Students must apply for these funds and they do not have to be repaid. Awards are based on merit, financial need and/or combination of the two.

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3
Q

FAFSA

A

Free Application for Federal Sudent Aid - Main form used to apply for federal education grants and loans.

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4
Q

Subsidized Loans

A

Type of federal student loan in which the government pays the interest that accrues while student is in school.

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5
Q

Stafford Loan

A

Most common type of federal loan awarded. Based on limits that are set for an individual loan as well financial need.

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6
Q

Private Student Loans

A

Financed by private companies rather than government. Since these interest rates and fees aren’t capped by government, they cost more.

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7
Q

Perkins Loan

A

Another common federal student loan. These loans have a set 5% interest rate and a 10 year repayment period.

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8
Q

Repayment Period

A

Amount of time given to an individual to pay back money lent.

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9
Q

Grace Period

A

Amount of time you have to pay back the balance of loan before it starts accruing interest.

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10
Q

Grants

A

Given to students to help pay for education and do NOT have to be repaid. Similar to scholarships.

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11
Q

Numerical Amount

A

numbers written in box of check representing how much the check is worth

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12
Q

Written Amount

A

spelled out on line representing ‘‘legal tender’’ amount of check

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13
Q

Account Number

A

2nd range of numbers @ bottom of check. Identifies which account to take money from

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14
Q

Check Number

A

upper right hand corner of a check. keeps track and identifies checks you write

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15
Q

Signature Line

A

Where the Authorized Signer places his or her name. without the authorized signers name the check will not be cashed

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16
Q

Memo Line

A

reminder of what the check payment for and is not necessary to fill out and not considered a legal agreement

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17
Q

Routing Number

A

1st range of numbers @ bottom of check. identifies what bank and which Federal Reserve Discrict the bank belongs to

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18
Q

Balance Account

A

keeping track on how much money you take from your account and how much money you deposuit into your account

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19
Q

Payday Lenders

A

Not a bank. they offer small loans with repayment of that loan due by the next paycheck

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20
Q

Federal Reserve

A

Central banking system of the United States. Composed of Board of Governors, the FOMC AND 12 regional Federal Reserve Banks. Prevents banking disaters and promotes a healthy economy

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21
Q

Comercial Bank

A

Deal primarily with deposits and loans from corporations and large businesses

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22
Q

Retail Bank

A

deals directly with individuals and small businesses

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23
Q

Credit Union

A

Cooperative banks that aere privately owned and controlled by memebers provides low rates for members

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24
Q

Saving and Loans

A

Banks that specialize in accpeting deposits and making mortgage loans no offers are given to commercial banks

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25
Q

Board Of Governors

A

Insures banks behave responsibly consists of 7 members appointed by president supervisesd the 12 reserve banks and adds to monetary policies

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26
Q

12 Regional Reserve Banks

A

conducts research on the economy provides finanial services to other banks and the US government

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27
Q

Federal Open Market Committee

A

decides nations policies that govern money that stimulates the economy

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28
Q

Savings Account

A

safe place for your money that earns interest

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29
Q

Certificates of Deposits

A

deposits that are held by your bank for a specific fixed period of time

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30
Q

Required Balance

A

a certain amount of money that must be kept in your account at all times or you may be penalized

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31
Q

Online Access

A

enables you to transfer funds send checks and check your balance via the internet

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32
Q

FDIC Insurance

A

Federal Deposit Insurance Corpoaration that protects the money in a bank account

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33
Q

Liquidity

A

refers to how easily and quickly you assests like your money can be moved

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34
Q

Bias

A

A personal and sometimes unreasoned judgement or prejudice

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35
Q

Citation

A

An act of quoting providing the specific source of the material

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36
Q

Cloud Computing

A

A computer network that allows for software and hardware to be placed on it, thereby removing the need to have them stored on your computer; some examples include word processing documents, e-mail, and music files

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37
Q

Copyright

A

Exclusive rights given someone who creates original work; the individual is protected for his or her lifetime and 50 years his or her death

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38
Q

Credible

A

Offering reason to be believed

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39
Q

Database

A

A computer system that stores enormous amount of data

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40
Q

Digital Security Certification

A

A certification given to websites that verifies whether a website is secure or not

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41
Q

Domain Name

A

A type of internet address such as .gov for government, .edu for educational instituations, .com for commercial sites, etc.

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42
Q

Fair Use

A

A limitation and exception to the exclusive right granted by copyright law to the author of a creative work

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43
Q

Intellectual Property

A

Property created from an original thought or idea

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44
Q

Open Source

A

A way in which software is developed that allows access to the source code of an application or software and is free to update and use

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45
Q

Piracy

A

The unauthorized reproduction or copying music, video, or literature without proper compensation or permission

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46
Q

Plagiarism

A

Representing the language or thoughts of an author as our own, without indicating where the information is from

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47
Q

Application

A

Also called an “app”, it is computer software created for a particular task or tasks; it is increasingly used to mean software that is downloaded for use on cell phones

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48
Q

Blog

A

A websites that is regularly updated and operates like a journal with writing, opinions, experiences, photos, videos, and links to other information on it

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49
Q

E-mail

A

Electronic mail sent between computer networks

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50
Q

Emoticon

A

The use of letters and punctuation in a message that indicates the emotion of the text (e.g., :) mean happy)

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51
Q

E-reader

A

A device or computer program used for reading electronic books

52
Q

MP3

A

A common audio format for playback and storage of music on digital audio players

53
Q

Multimedia

A

Content and media that combines different content forms, such as text, audio, animation, and still images

54
Q

Presentation

A

A computer program used to display information, normally in the form of a slide show

55
Q

QR Code

A

Quick Response code; a type of two-dimensional bar code, consisting of black modules in a square pattern on a white background, that can hold a large amount of any kind of data

56
Q

Social Media

A

Media that use internet and cell phone applications to interact, collaborate, and create content

57
Q

Social Network

A

A website designed for groups of people who published their own information and share it with others such as friends, family, co-workers, etc.

58
Q

Template

A

A standard display design used in blogs to provide a structure for information to be viewed

59
Q

Uploading

A

Sending data, such as a music or video file, from a local computer system to another computer system or server

60
Q

Web 2.0

A

Refers to application on the web that allow users to interact through user-generated content, design, and collaboration; includes the functions of social media websites

61
Q

Wiki

A

A websites that allows users to add and edit interlinking web pages

62
Q

Word Processing

A

A computer application used for the production (including composition, editing, formatting, and possibly printing) of any sort of printable material

63
Q

Adware

A

Computer software that displays advertisements

64
Q

Bias

A

A personal and sometimes unreasoned judgement or prejudice

65
Q

Bystander

A

One present but not taking part in a situation or event

66
Q

Cyberbulling

A

Using technology to harm others through deliberate, repeated, and hostile attacks

67
Q

Digital Addiction

A

A type of addiction characterized by a dependence on the use of digital technologies such as cell phone and computers

68
Q

Downloading

A

Receiving data, such as music or video file, from a server or another computer system

69
Q

E-mail

A

Electronic mail sent between computer networks

70
Q

Emoticon

A

The use of letters and punctuation in a message that indicates the emoticon of the text (e.g., :) to mean happy)

71
Q

Fair Use

A

A limitation of exception to the exclusive right granted by copyright law to the another of a creative work

72
Q

Hacked

A

Your computer or computer network has been broken into without your premission

73
Q

Identity Theft

A

A form of fraud where one person assumes the identity of another person

74
Q

Intellectual Property

A

Property created from an original thought or idea

75
Q

Malware

A

Computer software designed to harm a computer

76
Q

Multimedia

A

Content and media that combines different content forms, such as text, audio, animation, and still images

77
Q

Piracy

A

The unauthorized reproduction of copying of music, video, or literature without proper compensation or permission

78
Q

Plagiarism

A

Representing the language or thought of an author as your own, without indicating where the information is from

79
Q

Sexting

A

The act of sending inappropriate sexual material, usually text or images, between cell phones

80
Q

Smart Phone

A

A cell phone that is designed to perform various computer applications including, but not limited to e-mail, browsing the web, playing video games, playing music, and watching videos

81
Q

Social Media

A

Media that use internet and cell phone applications to interact, collaborate, and create content

82
Q

Social Network

A

A website designed for groups of people who publish their own information the share it with other such as friend, family, co-workers, etc.

83
Q

Textspeak

A

Abbreviations and slang commonly used to shorten a text or instant message, like using “?s” for “questions”

84
Q

Viral

A

An object or pattern that is quickly replicated and shared

85
Q

Virus

A

A type of malware that replicates itself and spreads to other computers

86
Q

Webcam

A

A video camera for computer typically used to provide real-time video footage

87
Q

Application

A

Also called an “app”, it is computer software created for a particular task or tasks; it is increasingly used to mean software that is downloaded for use on cell phones

88
Q

Cloud Computing

A

A computer network that allows for software and hardware to be placed on it, thereby removing the need to have them stored on your computer; some examples include word processing documents, e-mail, and music files

89
Q

Copyright

A

Exclusive rights given to someone who creates original work; the individual is protected for his or her lifetime and 50 years after his or her death

90
Q

Database

A

A computer system that stores enormous amounts of data

91
Q

Programming

A

The process of designing, writing, testing, debugging, and maintaining the source code of computer programs

92
Q

Spreadsheet

A

A computer application that simulates a paper accounting worksheet

93
Q

Presentation

A

A computer program used to display information, normally in the form of a slide show

94
Q

STEM

A

Refers to careers in science, technology, engineering, and mathematics

95
Q

Tablet

A

A highly portable computer shaped like slate or pad of paper, featuring a touch screen

96
Q

Word Processing

A

A computer application used for the production

97
Q

How can investors receive compounding returns?

A

By investing their earnings back into their original investment

98
Q

When you buy a ____ , you are loaning money to an organization.

A

Bond

99
Q

Which best describes the difference between stocks and bonds?

A

Stocks allow investors to own a portion of the company; bonds are loans to the company.

100
Q

What is the primary reason to issue stock?

A

To raise money to grow the company

101
Q

When it comes to investing, what is the typical relationship between risk and return?

A

The greater the potential risk, the greater the potential return.

102
Q

Which of the following correctly orders the investments from LOWER risk to HIGHER risk?

A

Treasury bond − Diversified mutual fund - Stock

103
Q

If an investment is considered “volatile”, it means..

A

the value of the investment may be hard to predict.

104
Q

Diversification is important in investing because…

A

It helps you to balance your risk across different types of investments.

105
Q

Using a brokerage firm, a qualified investor buys 1000 shares of a common stock at $50 a share on 50% margin. This means that the

A

brokerage firm is lending the investor 50% of the money.

106
Q

Are Issued by a state,and are tax exempt.

A

Municipal Bonds

107
Q

most common types of retirement plans

A

401k

108
Q

IRA

A

Individual Retirement Account

109
Q

what do all the retirement plans have?

A

Tax Benefits

110
Q

difference between traditional and roth IRA

A

traditional: Do not pay taxes today (pay when retire)

111
Q

investing vs. savings

A

investing: Greater gains, greater risks

112
Q

stocks

A

shares of ownership in a company; when the company grows in value, so does your stock; you are known as a stockholder/shareholder who in turn elect a Board of Directors.

113
Q

bonds

A

You are loaning to a company or the government; The amount of the loan is the price of the bond; known as a bondholder

114
Q

treasury bonds

A

issued by U.S. Treasury; backed by U.S. gov’t.; considered safe investment

115
Q

municipal bonds

A
  • issued by state, county or city governments
116
Q

mutual funds

A

Buying a mix of stocks and bonds; Mutual funds are chosen and managed by a fund manager.

117
Q

index funds

A

Made to track the overall performance of the market or certain investment types or groups of stocks.

118
Q

why issue stocks and bonds?

A

company - raise funds

119
Q

four stock exchanges

A

NASDAQ

120
Q

NASDAQ

A

World’s first electronic stock market; Trades are made via computer rather than in person or over the phone.

121
Q

nyse (new york stock exchange)

A
  • largest stock exchange in the world in terms of amount of money traded.
122
Q

s&P 500 (standard and poor 500)

A

Represents the performance of 500 companies that are mostly based in the U.S.; some consider it to be a more accurate representation of the stock market as a whole.

123
Q

dow jones industrial index

A

Index that represents the performance of 30 of the largest companies in the U.S.

124
Q

risk vs. return

A

high risk, high potential return

125
Q

young age vs . old age

A

young- higher risk portfolio

126
Q

diversification

A

creating a mix of investments that have differing levels of risk.

Economics (11 decks)

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