1. What are brokerage firms?: A brokerage firm, or simply brokerage, is a financial
institution that facilitates the buying and selling of financial securities between a buyer and
2. What are depository and nondepository financi
It Costs What?
1. What are credit cards? Why do people use them?: Its what you buy with
borrowed money from a financial institute.
2. What is interest? How does interest affect credit card purchases?: If you
don't pay back the debt in a certain amount of
Review Questions unit 8
1. What is closed-end credit?: A closed credit is a type of credit that needs to be paid at the
end of a term. It includes all types of loans.
2. What is open-end or revolving credit?: A preapproved loan between a financial institu
Your Life, Your Money
1. What is the average debt for individuals 22-29?: $16,120
2. Why is it important to think about "needs" and "wants"? What are the differences
between these?: Why it's important to think about your needs and wants is because if you
1. What are municipal bonds? Describe two different types of municipal bonds.: Debt
securities issued by state or local governments to pay for ongoing products. Revenue bonds
and general obligation bonds.
2. What is asset allocation? Why
1. Why are cars a bad investment?: They devalue in price pretty quickly.
2. What are some of the ways that you can save money when buying a car? Buy a used car
or a fixer uper.
3. What is emergency money? Why would someone need emergency money? In case
Your Life, Your Money, Your World Game
1. What is the most important thing that you can do when saving money?: The budget would
be the most important thing about saving money. Avoid buying too many things you dont
need, use coupons, and buy things that ar
1. 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 While regressive tax systems charge ever
1. What is a deductible? How does a deductible affect insurance?: The amount of expenses
you are responsible to be paid out of pocket before an insurer will pay any expenses.
2. What is risk classification?: Grouping of different risks ac
1. What problem occurred after Hurricane Katrina that has prevented rebuilding?: A nearby
dam broke open which caused flooding and the insurance failed.
2. Why is disclosure important when taking out insurance?: So you absolutely know what
Financial Football Lab
1. What was the final score of the game?
The final score was 7 to 0. I won the game.
2. How did you do answering the questions? Did you answer any of the questions
I would say that I got 70% of the questions right. I di
1. What is the most important thing that you can do when saving money?
The most important thing that you can do when saving money is to only buy
needs instead of wants when trying to save money. Look at the long term
when it comes to buying things you buy
Unit 9 Text Questions
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.
Generally, safe deposit boxes are locking
1. 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. When state
Unit 6 Lab
1. What problem occurred after Hurricane Katrina that has prevented
What prevented rebuilding after Hurricane Katrina was, the dam broke which
caused flooding. Only 5 out of 26,000 peoples houses werent flooded.
2. Why is disclosure