test 2

Question 1

an internet phenomenon where strangers learn about a business online and then decide whether or not to make an investment

Answer 1

Crowd Funding

Question 2

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

Answer 2

Deductible

Question 3

failure to repay a loan

Answer 3

Default

Question 4

the commitment to get something done

Answer 4

Determination

Question 5

distinguishing a product or service different than anything else attracting customers generating sales and serving as the foundation for a thriving business

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 or new business concept in 30 seconds a differentiating vision to encourage potential investors or employees to learn more

Answer 7

Elevator Speech

Question 8

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

Answer 8

Engaging Questions

Question 9

funds contributed by investors to a business investors contribute capital to a business because they expect a significant return on their investment when the business secceeds

Answer 9

Equity or Capital

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

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

Answer 12

Fixed Cost

Question 13

a computer portal offered by the Louisiana Secretary of State that enables entrepreneurs to go to a single source to learn which forms they need to file the forms required by the Secretary of State and to determine which other government agencies that may need to interact with

Answer 13

GeauxBiz Portal

Question 14

an individuals self-commitment to overcome obstacles to achieve long-term goals

Answer 14

Grit

Question 15

a credit-worthy individual or business with sufficient liquidity that promises to repay a loan in the event that the debt holder cant make a required payment.

Answer 15

Guarantor

Question 16

a special account where individuals can deposit retirement funds that can grow tax-deferred until they withdraw them after they retire

Answer 16

Individual Retirement Account (IRA)

Question 17

debt owed to someone that is paid monthly

Answer 17

Installment Payment

Question 18

the amount an insurance policyholder receives from the insurance company to reimburse the policyholder for 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 a policyholder pays for an insurance policy

Answer 20

Insurance Premium

Question 21

non-physical assets created by individuals or companies that gold the exclusive legal right to commerciallze

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 to benefit commercially from he/she invention

Answer 23

Patent

Question 24

gives the registering individual or company the sole right to benefit from a brand or image he/she created

Answer 24

Trademark

Question 25

the federal agency that collects federal taxes and performs audits

Answer 25

Internal Revenue Services (IRS)

Question 26

the merchandise that a company sells to customers

Answer 26

Inventory

Question 27

a legal decision requiring a person or company to pay another person or company

Answer 27

Judgement

Question 28

an obligation you have to pay someone else money also called a debt or loan

Answer 28

Liability

Question 29

5 steps

Answer 29

Self assessment
self assessment presentation
micro enterprise credit application
online test
company registration