test2

Question 1

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

Answer 1

Crowdfunding

Question 2

The amount an insurance company makes a policyholder pay as of any claim.

Answer 2

Deductible

Question 3

The commitment to get something done.

Answer 3

Determination

Question 4

failure to repay a loan

Answer 4

Default

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. Dividends are optional – many companies do not pay dividends. Dividends are typically paid every three months.

Answer 6

Dividend

Question 7

a clear, concise and compelling way to describe a business or new business concept in 30 seconds; d 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 contribute by investors to a business. Investors contribute capital to a business because they expect a significant return on their investment when the business succeeds.

Answer 9

Equity (or capital)-

Question 10

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

Answer 10

Fanatical 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 unit sold by the enterprise.

Answer 12

Fixed costs

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

Genaux biz portal

Question 14

an individual self-commitment to overcome obstacles to achieve long-term goals. The ability to keep pursuing your dream despite challenges and defeats. Perseverance, resilience and backbone.

Answer 14

Grift

Question 15

a credit-worthy individual or business with sufficient liquidly that promises to repay a loan in the event that the debtholder can’t make a required payment

Answer 15

Guarantor

Question 16

a special account where individuals can deposit retirement funds that can grow tax-demand until they withdraw them after their retirement.

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 hold the exclusive legal right to commercialize.

Answer 21

Intellectual property

Question 22

the federal agency that collects federal taxes and performs audits.

Answer 22

Internal revenue service (IRS)

Question 23

the merchandise that a company sells to customers.

Answer 23

Inventory

Question 24

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

Answer 24

Judgement

Question 25

an obligation you have to pay someone else money. Also called a debt

Answer 25

Liability

Question 26

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

Answer 26

Copyright

Question 27

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

Answer 27

Patent

Question 28

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

Answer 28

Trademark