Test 2

Question 1

an internet phenomenon, where strangers learn about a business online and then decide whether or not to make an investors are typically “fans” of an owner, but they do not expect a return on investment

Answer 1

crowdfunding

Question 2

the amount an insurance company makes a policyholder pay as part of any claim

Answer 2

deductible

Question 3

failure to pay a loan

Answer 3

default

Question 4

commitment

Answer 4

determination

Question 5

distinguishing a product or service

Answer 5

differentiated offering

Question 6

money paid by a company to a person who owns stock in that company

Answer 6

dividend

Question 7

a clear concise and compelling way to describe a business

Answer 7

elevator speech

Question 8

open ended questions that prompt more than a yes or no answer

Answer 8

engaging question

Question 9

funds contributed by investors to a business

Answer 9

equity

Question 10

understanding how individuals and businesses earn money and what they spend money on

Answer 10

financial literacy

Question 11

the 12 month period a company uses to report financial results

Answer 11

fiscal year

Question 12

cost that do not vary based on the units sold by the enterprise

Answer 12

fixed cost

Question 13

a computerized portal offered by the Louisiana secretary of state that enables entrepreneurs to go to a single source they need to file

Answer 13

geaux biz portal

Question 14

an individual self commitment to overcome

Answer 14

grit

Question 15

credit worthy individuals or business with sufficient liquidity

Answer 15

guarantor

Question 16

a special account where individuals can deposit retirement funds

Answer 16

individual retirement account (IRA)

Question 17

debt owned to someone that is paid monthly

Answer 17

installment payment

Question 18

the amount of insurance policyholder receives from the insurance company to reimburse the policyholder fop a covered loss

Answer 18

insurance claim

Question 19

the individual or business that purchases an insurance policy for various types of protection

Answer 19

insurance policyholder

Question 20

the amount of a policy holder pays for an insurance policy

Answer 20

insurance premium

Question 21

non physical asses created by individuals or companies that hold the exclusive legal right to commercialize

Answer 21

intellectual property

Question 22

give the author the sole right to benefit economically from what he/she wrote

Answer 22

copyright

Question 23

gives the inventor the sole right to benefit commercially from his/her invention

Answer 23

patent

Question 24

federal agency that collects federal taxes

Answer 24

internal revenue services (IRS)

Question 25

gives the registration individual or company

Answer 25

trademark

Question 26

merchandise that a company sells to a customer

Answer 26

inventory

Question 27

a legal decison

Answer 27

jugdment

Question 28

a debt or a loan

Answer 28

liability