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Consumer Ed Honors > Finals extras > Flashcards

Finals extras Flashcards

1
Q

Lowest to highest interest rates
Savings account
Certificate of deposit
Money market

A

Savings, money market, cd

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2
Q

What is it called when you sign the back of a check

A

Endorsement

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3
Q

What is common stock

A
  • normal stock

- Shares of a stock that you can buy

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4
Q

What does it mean to put a stop payment on a check and does it cost money

A
  • yes

- stop payment stops the check from going through

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5
Q

What is a check register and why should it be up to date

A
  • check book

- outstanding checks- keep track so you aren’t surprised when they deposit prevent overdraft

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6
Q

The value of a home always increases, true or false and why

A

False, they can go down in value

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7
Q

ARM stands for what

A

Adjustable rate morgage

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8
Q

What is eft and an example

A

Electronic funds transfer

- direct deposit

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9
Q

Know what you cannot do at an atm

A

Change pin

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10
Q

If someone defaults on a loan, what will happen

A

Assets are repossessed

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11
Q

In a car insurance policy, what does 50/100/200 represent

A

-limits if there is an accident
50- amount paid per person for bodily injury
100- amount paid in total for bodily injury
200- max out in property damage

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12
Q

What is a market order in the stock market

A
  • you pay market price for the stock. Buy it at the current price
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13
Q

What is a limit order in the stock market

A

You set it so it automatically buys if it drops to the price that you set

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14
Q

What is it called when someone sells their assets for cash

A

Liquidity

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15
Q

What can lower your car insurance

A

Discounts

  • multiple lines
  • homeowners and auto insurance with the same company
  • good driving records
  • good grades
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16
Q

What is equity

A

Your owner ship

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17
Q

Two most popular ownership for health insurance and describe them

A

PPO- preferred provider organization,more expensive, more options on hospitals, care, doctors
HMO- health maintenance organization, not as good, but cheaper

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18
Q

When buying a house how much should one try to put down

A

20%

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19
Q

FTC

A
  • Fair trade organization
  • protect consumers from unfair trade policies
  • monopolies, price fixing
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20
Q

FDIC

A

-protects your deposits up to $250,000

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21
Q

SEC

A

Securities and exchange commission

- regulates stock company reports

22
Q

FDA

A

food and drug administration

- facts, what is put out

23
Q

FAA

A

Federal aviation and administration

-airline industry

24
Q

Federal reserve

A
  • Monetary y

- controls supply of money

25
Q

IRS

A
  • regulating checks and tax returns
26
Q

BBB

A

better business bureau

-private, complaints on business made here

27
Q

What can make your credit score go up

A
  • Time, pay back loans, have lines of credit open

- not really income, but more income gives you more limit

28
Q

What can make your credit score go down

A
  • failure to repay

- too many credit lines open

29
Q

What is an example of a good credit score

A

720

30
Q

What is a reason you might want a good credit score

A

-effects ability to obtain a loan and interest rates you get

31
Q

Pros and cons of buying and leasing a car

A

Pros of leasing- new car, under warranty, lower payments

Cons- build no equity, no customizations, miles limites

32
Q

What does comprehensive car insurance cover

A

-damage to your car not from a traffic accident

33
Q

What does collision car insurance covers

A

Accident and you are at fault.covers anything damaged

34
Q

What is a co-pay for car insurance

A
  • like deductible

- like if you go to a doctor outside of network you have prescription

35
Q

What is germ life insurance

A

Only a specific term.

36
Q

What is whole life insurance

A

Life insurance for your entire life when you die

37
Q

Law of demand

A

As prices go up, demand goes down

38
Q

Law of supply

A

As prices go up, quantity goes ho

39
Q

What are monopolies

A
  • companies that have too much power. Set market prices for everything
  • disney
40
Q

What is the GDP

A
  • Gross domestic product

- how much money is exchanged in a country p/state want it to be high

41
Q

What is CPI

A

consumer price index

-how expensive it is to be a consumer

42
Q

What is a W4 and why is it used

A

Before you start your job

-Estimate different deductions

43
Q

What is a W2 and when do you recieve it

A

Sent to you by Jan 31st ish

-How much you made, federal, state, tips, use to file tax return

44
Q

What number of allowances makes your return the lowest and your taxes the lowest at the end

A

-0

45
Q

When must your taxes be paid by every year

A

April 15th

46
Q

What are the major factors that effects the health of the economy

A
  • GDP

- people spending taxes

47
Q

Persuasive advertising

A

Pursuades you to do something

-ASPCA

48
Q

Brand adertising

A
  • Use overall brand

- Nike

49
Q

Informative advertising

A

-Facts and stuff, rational

Cars-> safest vehicle

50
Q

What is a pre-existing condition

A
  • Health insurance

- You can’t say you are healthy if you have pre exiting conditions

51
Q

According to the Universal Health Care Law, you can stay on your parent’s insurance until how old

A

When you turn 26 you have to get your own insurance

52
Q

What rooms, if remodeled will increase the home value the most

A

Bathroom and kitchen

Consumer Ed Honors (5 decks)

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