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personal finance exam
2011 exam
34
Business
11th Grade
12/18/2011

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Cards

Term
phishing
Definition
common Internet scam in which an e-mail is sent from someone posing as your bank or other legitimate business
Term
proprietorship
Definition
business with one owner
Term
Fair Isaac Corporation
Definition
FICO pr credit score stands for this
Term
right of first refusal
Definition
-when a rental agreement contains a purchase option at at the end of the rental term, the rental is said to have _____________
Term
consumer finance company
Definition
-the type of lender that extends legal high-interest loans to consumers who may be ineligible for other types of low-interest sales
Term
recession
Definition
-when people slow their buying and are unable to pay high prices, the economy slips into a __________________
Term
net pay
Definition
-the amount you take home after deductions have been subtracted
Term
low-balling
Definition
-advertising a basic service at an unusually low price to lure in customers and them telling them they need something else
Term
banner ad
Definition
-form of advertising that spans the top, bottom, or sides of a web page
Term
assets
Definition
-money and items of value that you own
Term
timeline
Definition
-visual display of how long it will take to achieve each phase of your financial plan
Term
encryption
Definition
-process of converting data to a coded form to help protect electronic information
Term
forgery
Definition
act of signing another person's name on a check
Term
rebate
Definition
-a refund of part of the purchase price of an item
Term
collateral
Definition
-property that can be used as security of a loan
Term
callable
Definition
-bonds issued by a corporation which allows it to repay the bonds early if interest rates are dropping
Term
treasury bills
Definition
-government securities sold at a discount fare from face value and in terms ranging from 4 to 52 weeks
Term
preferred stock
Definition
-stock which guarantees a fixed dividend but does not provide voting rights.
Term
time value of money
Definition
-concept that says a dollar you receive in the future will be worth less than a dollar you receive today
Term
appreciating
Definition
-assets that are growing in value over time are said to be ___________________
Term
philanthropy
Definition
primary source of funding for fine arts, performing arts, and most religious and humanitarian causes
Term
blank
Definition
-endorsement that consists only of the payee's signature
Term
blank
Definition
-endorsement that consists only of the payee's signature
Term
blank
Definition
-endorsement that consists only of the payee's signature
Term
blank
Definition
-endorsement that consists only of the payee's signature
Term
blank
Definition
-endorsement that consists only of the payee's signature
Term
blank
Definition
-endorsement that consists only of the payee's signature
Term
blank
Definition
-endorsement that consists only of the payee's signature
Term
bounced
Definition
-a check marked "NSF" and returned to the payee's bank unpaid is said to have bounced
Term
blank
Definition
-endorsement that consists only of the payee's signature
Term
installment
Definition
-kind of credit used to finance a single high-priced item through a series of equal payments made over a set period of time
Term
revolving
Definition
-bank credit cards such as Master's card and Visa are this type of credit which allows a person to charge the account repeatedly
Term
easy access
Definition
-credit which can be obtained quickly and easily but oftne carries high or hidden costs
Term
market value
Definition
the highest price that property will bring on the open market
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