Personal Finance Flashcards
1
Q
25% of kids believe they will do better financially than their parents? True or False
A
False
2
Q
Loaning money to business/government paid back with interest
A
Bonds
3
Q
Saving certificate fixed saving/interest rates
A
Certificate of deposit
4
Q
Amount payed before benefits of insurance
A
Deductible
5
Q
Criminal deception for financial gain
A
Fraud
6
Q
Illegal use of someone else’s account
A
Identity theft
7
Q
Money set aside for financial emergencys
A
Savings
8
Q
Not an asset
A
Mortgage
9
Q
Anything you owe; debt
A
Liabilities
10
Q
Assets - Liabilities
A
Net worth
11
Q
Most Liquidity (How easy to take out)
A
Savings ($1,200)
12
Q
Long term investment
A
5 years
13
Q
Double sum of money (Calculate amount of time)
A
Rule of 72
14
Q
Low risk, high interest, savings account
A
Money Market Account
15
Q
6% double money take (Rule of 72)
A
12 years
