1. What is identity theft? Why is this a problem in society?
Identity theft happens when someone takes "personally identifying information" such as a
Social Security number, a driver's license number, or other information, and uses that
information to com
What is closed-end credit?
Closed-end credit is a one-time loan that you pay back over time in
payments of equal amounts.
2. What is open-end or revolving credit?
Open-end credit is loans made on a revolving basis with the repayment
period not set. Open-e
What is a progressive tax system? How does it differ from a
regressive tax system?
Progressive tax systems require those with higher incomes to pay a
greater proportion of their income in taxes. In contrast, regressive tax
systems charge everyone the exac
1. What are brokerage firms?
Its a type of non-depository financial institution. Brokerage firms
manage and facilitate the purchase of stocks, bonds, and other types of
2. What are depository and nondepository financial insti
1. What type of value is created by ads?
Adds create intangible value (perceived value, badge value, subjective value)
2. Sutherland goes through several examples of advertising "bad" things like slow trains
or placebos. How does he create perceived value
1. What is a safe deposit box? What financial records are best kept in one?
A safe deposit box is a private, secure storage area at a location such as a bank.
Documents such as adoption or birth records, wills, and marriage or divorce records,
1. What was the final score of the game?
2. How did you do answering the questions? Did you answer any of the questions incorrectly?
I did decent on the questions. I chose mostly hard and medium level ones. Yes, a lot of things that I have
1. How did the increase in foreclosures affect other parts of the economy?
They have a public health impact. The house market resulted in evictions,
foreclosures and prolonged unemployment.
2. What happened in the housing market after 9/11?
What are municipal bonds? Describe two different types of municipal
Municipal bonds are debt securities issued by state or local
governments to pay for ongoing products such as roads, schools, and
airports. The two types are: general obligation bond
Before taking the survey, how would you describe your spending
I am a very frugal person. I might spend a little bit of my money on
luxurys like getting my hair and nails done but other than that, I dont
spend much of my money.
2. What did you lea
What is a deductible? How does a deductible affect insurance?
A deductible is the amount of money that the policy holder will pay
before the insurance company will pay on an insured loss. With a
deductible, you are responsible for paying a certain amount
What are the benefits of placing your money in a savings account (or
other account earning interest) versus "under the mattress"?
The banks will pay you 4% every year you have your money in their
bank while under the mattress you earn nothing.
2. What doe
What is the average debt for individuals 22-29?
Average debt for 22 - 29 year olds: $16,120
2. Why is it important to think about "needs" and "wants"? What are the
differences between these?
Needs: Home, Clothes, Food, Job, Transportation, Insurance, and
What character did you choose from the available choices? Why?
What are the pros and cons of choosing this character in the game?
I chose Pat the plastic surgeon. I chose her because I know that doctors
make a lot of money and she would be very smart.