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Financial Planning > SPS Final > Flashcards

SPS Final Flashcards

1
Q

management of money

A

finance

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2
Q

detailed summary about your income and expenses

A

budget

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3
Q

amount of money you spend

A

expenses

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4
Q

things you need to live

A

need

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5
Q

things you don’t have, but want

A

want

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6
Q

immediate access to funds for a short term need

A

liquidity

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7
Q

borrowing money with interest

A

loan

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8
Q

a paper document saying how much money you deposited into what account

A

deposit

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9
Q

offering to lend money

A

credit

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10
Q

a price for a service or commodity that includes all extra costs incidental to the item

A

unit price

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11
Q

an agreement to pay rent and fulfill other obligations for a certain length of time

A

lease

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12
Q

An assessment of how trustworthy you are paying bills

A

credit history

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13
Q

income after taxes and other deductions

A

net income

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14
Q

the difference between market value and the unpaid balance

A

equity

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15
Q

the lender’s charge on borrowing money

A

Interest rate

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16
Q

income before taxes and other deductions

A

gross income

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17
Q

What does the acronym APR mean

A

annual percentage rate

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18
Q

The money you borrow is the

A

Principle

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19
Q

Another term for interest and APR is

A

Finance Charge

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20
Q

bankruptcy

A

A situation in which a court rules that a person is not able to pay their bills

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21
Q

collateral

A

Possessions (such as a home. Car, or savings) that a borrower pledges in return for a loan

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22
Q

deficit spending

A

Spending more than you earn

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23
Q

insurance

A

The means by which people protect themselves financially against losses or liability incurred as a result of unexpected events

24
Q

A contract that promises to pay for any loses

A

indemnity

25
Q

claim

A

Demand for payment in accordance with the policy

26
Q

Amount you must pay before the insurance company pays anything

A

deductible

27
Q

Money paid for each doctor visit or other health services

A

copayments

28
Q

A person who will receive insurance benefits

A

beneficiary

29
Q

The creating of a website replica in order to trick users into submitting personal, financial or password online

A

phishing

30
Q

Job

A

Work you do to make a living

31
Q

Career

A

Chosen field of work that has the potential for growth and advancement by incorporating your interest, values, skills, and strengths to provide long term fulfillment

32
Q

Networking

A

The process of making contacts and building relationships that can help you obtain leads, referrals, advice, information, and support

33
Q

The eight distinct area of intelligence everyone possesses

A

visual/spatial, intrapersonal, kinesthetic, intrapersonal, verbal/linguistic, musical/rhythmic, logical/mathematical, naturalistic

34
Q

holland interest environments

A

A technique for exploring the ways in which your interest can be grouped into job categories so you can begin to select specific career paths to investigate

35
Q

visual/spatial

A

A multiple intelligence that includes the ability to create mental images and transform them into an art form or useful products

36
Q

intrapersonal intelligence

A

The multiple intelligence which involves the ability to comprehend your own feelings

37
Q

The multiple intelligence that relates to the ability to connect mind and body and often relates to excelling at sports

A

kinesthetic intelligence

38
Q

The multiple intelligence that involves the ability to comprehend others feelings

A

interpersonal intelligence

39
Q

Programs in which you can work part-time in a career field in which you are interested while taking job related courses at school

A

co-op programs

40
Q

A school that offers courses to prepare students in specific skills to enter a technical career field

A

technical training program

41
Q

Study at a college or university-perhaps starting at a community or junior college

A

higher education

42
Q

A job that does not involve manual labor and for which people generally do not have to wear uniforms or protective clothing

A

white collar

43
Q

Formal education after you graduate from college which will give you indepth knowledge about your specific career area

A

graduate school

44
Q

The fee for instruction at a university

A

tuition

45
Q

Legal resident of the state in which the college is located

A

in-state resident

46
Q

An institution of higher learning that is operated and funded by the state in which it is located

A

public university

47
Q

Student Financial aid in which you do not have to repay

A

scholarship

48
Q

A college that is approved as meeting certain standards

A

accredited

49
Q

Course of study

A

curriculum

50
Q

People who have graduated from a certain school

A

alumni

51
Q

When a student enrolls in college classes and if they earn a passing grade, they receive credit that may be applied toward their high school diploma, a college degree, or a certificate

A

dual enrollment/concurrent enrollment

52
Q

Admission policy whereby you are informed by December weather or not you are accepted

A

early admissions policy

53
Q

Administration policy under which the administration makes acceptance decisions as students apply

A

rolling-admissions policy

54
Q

Participating in the course activities and assignments whenever and from wherever it is convenient during the school week

A

asynchronous-mode course

55
Q

A list of students who will be admitted if others choose not to come

A

waiting list

56
Q

An institution of higher learning that is operated by a private organization

A

public university

57
Q

Widely used entrance exam that measures the academic skills and knowledge most students need for success in college

A

SAT

Financial Planning (6 decks)

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