Final Questions Flashcards
(25 cards)
What are the sections in a resume? What info goes in each section
Your info, objective, education, experience
What is identity theft? How can this occur?
When somebody uses someone else’s identity to get cash or buy products using credit or to access victims financial accounts. This happens if they get hold of you credit card, social security number or drivers license
What is the difference between common and preferred stock?
Common stock you vote with no set dividend, and preferred stock you don’t vote but have a set dividend
What can paper money coins be classified as?
Currency
Who is the FDIC and how much do they insure money for?
Federal Deposit Insurance Corporation and they insure up to$250,000
What is credit rating?
Measure of credit worthiness, often computed as a numbered score
What is a dividend? (or dividend income?)
Portion of companies profits paid to the owners
What is risk?
Chance that investment will decrease in value
What is the difference between risk and return?
Risk is the chance to loose money and return you gain money
How do you maintain a good credit rating?
Pay your taxes on time, read what you sign, and avoid credit mistakes
What is the difference between secured and unsecured loans?
With a secured loan there is collateral if you do not pay with unsecured there is nothing backing your loan
What does a stockbroker do?
A person who handles the transfer of stocks and bonds between buyer and seller
What is a deposit slip? What information do you fill out on it?
A form for a deposit you make to the bank, you must fill out the current date, amount deposited, cash back and amount of check and then you sign it.
What is disability insurance? Who can sign up for it?
Insurance for someones who’s injured on the job and anyone can sign up for it
What is the difference between a debit and a credit card?
With a credit card you are borrowing money from the bank and are insured in case someone steals your card but with a debit card, you are using your own money and have no insurance
What is interest?
Money payed regularly
What are two types of interest? How are they calculated?
Simple Interest: Once a year
Compound Interest: (Payed on principle) Can be compounded daily, monthly, quarterly and yearly
What happens when you write a check for more thank you have in your checking account? What is this called?
If you write a check for man than you have you get penalized and must pay a find and the check bounces and doesnt work
What is gross and net pay?
Gross Pay- Pay before Taxes
Net pay- Pay after taxes
What are three types of check endorsements? How do you fill out each form?
Blank: Sign your name
Restrictive: Can only be deposited
Special Endorsement: Sign over to someone
What is rate of return on an investment?
Initial Investment
What is a W2 form for? Who fills it out?
Statement of income and withholdings for the year, says how much you earned and payed to taxes, filled out by employer
What is a W4 from? When do you fill it out?
Says how much tax needs to be taken out of income, filled out when starting new job
What are the benefits to using public transportation?
Less expensive, convenient, can be faster
