Brainscape's Knowledge GenomeTM

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


See full index

PF > Forms Of Financial Aid > Flashcards

Forms Of Financial Aid Flashcards

1
Q

Name the types of Student Loans

A

Subsidized and Unsubsidized

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

Scholarship Definition:

A

An amount of money that Is given by a school or organization

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

Grants definition :

A

The issuance of an award under a stock plan

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

Subsidized student loan :

A

A loan partially supported and paid for by the US Government.

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

Unsubsidized

A

An offer by the government but does not pay interest

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

Tuition

A

A sum of money charged for teaching or instruction by a school or college

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

Hard Skills

A

Quantifiable capabilities required for specific occupations

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

Soft Skills

A

Character traits and interpersonal skills that characterize a persons relationship with other people

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

Supply & Demand

A

Explaining the interaction between the supply of a resource and the demand of the resource

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

Economy

A

The wealth and resources of a country or region.

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

Forms of Financial Aid

A

Student Loans, Grants, Scholarships

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

Employee Benefits Examples

A

Social Security, workers compensation and health insurance

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

Earned income

A

Money derived from paid work

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

Unearned Income

A

Income from investments rather than work

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

Name 2 of the 5 types of taxes

A

Social security Tax

Federal Income Tax

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

Name 3 of the 5 types of Taxes

A

Income Tax

Sales Tax

Excise Tax

17
Q

Name the 2 types of Transfer Payments

A

In- Kind Payments

In-Cash Payments

18
Q

Name 2 of the 5 types of Forms

A

W-4

W-2

19
Q

Name 3 of the 5 types of Forms

A

I-9

1040EZ

1040A

20
Q

Calculate payroll

A

Gross pay

Deductions

Net Pay

21
Q

What is the difference between Medicare and Medicaid ?

A

Medicare : Federal program attached to Social Security

Medicaid : A joint federal and state program that helps low income individuals pay for medical and long term custodial care

22
Q

Flexible Spending Arrangement ( FSA )

A

One of a number of tax advantaged financial accounts that can be set up through a cafeteria plan

23
Q

Networking

A

A process that fosters the exchange of information and ideas among individuals or groups that share common interest

24
Q

Risks of Entrepreneurship

A

Risks: Financial Risk, Technology Risk, Competitive Risk

25
Q

Venture V. Lifestyle Business

A

Venture: Focuses on on a marketplace with potential for rapid and robust over the coming years

Lifestyle: one that may or may not see significant growth

26
Q

Inflation

A

The rate at which the general level of prices for goods and services is rising

27
Q

Deflation

A

A contraction in the supply of circulated money within an economy

28
Q

Hyperinflation

A

When the prices of goods and services rise more than 50 percent a month

29
Q

Cause of inflation

A

Demand pull inflation,

Cost push inflation

Real Cost Inflation

30
Q

Consumer Price Index ( CPI)

A

An index of the variation in prices paid by typical consumers for retail goods and other items

31
Q

Name pricing strategies

A

Cost plus pricing
Cost recovery pricing
Value based pricing
Market based pricing

32
Q

Name 3 types of Advertising

A

Indirect
Direct
Target Audience

33
Q

Selling Strategies

A

Customer service

Convenience

Meeting needs of consumers

34
Q

The Federal Reserve System ( FRS)

A

The central banking system of the US

35
Q

Name the 4 Stages of the business cycle

A
  1. Peak
  2. Recession
  3. Trough
  4. Recovery
36
Q

Cost of Living Adjustment ( COLA )

A

An adjustment made to social security and supplemental security income to counteract the effects of inflation

37
Q

Economizing

A

Economizing : Consumers save as much as possible and spend only when necessary

38
Q

Optimizing

A

Consumers get the highest value for the money spent

39
Q

Federal Trade Commission ( FTC )

A

An independent agency of the US government

PF (1 decks)

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