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15
×
A sole proprietorship is an unincorporated business with two or more partners that split duties evenly
True
False
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15
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Explain the difference between a secured loan and unsecured loan
Secured loans require some sort of collateral, such as a car, a home, or another valuable asset,
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15
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People w/ bachelors degrees have lower earning power than works with a HS diploma only
False
True
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15
×
What is the best title for a list that includes: Direct Subsidized, Direct Plus, Direct Consolidation
Federal Student Loans
Fafsa requirements
Financial Aid
Work Study Programs
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15
×
Explain one advantage of having credit cards
Convenience, purchase protection, rewards, building credit history, emergency purchases
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eraser
Reset score!
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seesaw
Swap points!
Okay!
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fairy
Take points!
5
10
15
20
25
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banana
Go to last place!
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20
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What is the difference between NET INCOME and GROSS INCOME
Net income is how much you bring home after deductions (taxes/insurance/investments), Gross is amount earned before deducations
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25
×
What does it mean to default on your loan?
Failure to make pay it back
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15
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Person or institutions to whom money is OWED
Investor
Borrower
Leasee
Creditor
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15
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Who issues Municipal Bonds?
Financial Institutions
State and Local Governments
Congress
Coporations
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15
×
Donations to charities are tax deductible?
False
True
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thief
Give points!
5
10
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25
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rocket
Go to first place!
Okay!
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gift
Win 25 points!
Okay!
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banana
Go to last place!
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banana
Go to last place!
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shark
Other team loses 25 points!
Okay!
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rocket
Go to first place!
Okay!
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lifesaver
Give 25 points!
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15
×
Is your money protected while in a bank? If so, how?
FDIC - Insures your account up to $250k
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15
×
BONUS POINTS - Explain the concept of Compound Interest
You earn interest on your interest over time leading to greater gains
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15
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What is one benefit and one negative about credit unions?
Negative - membership is required, less locations Positive - Better rates, more options
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