Section 5 Study Questions (9.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. What is credit? (0.5 points) Credit is borrowed money that you can use to purchase things you need when you need them and then repay the funds back at an agreed on time 2.
Section 4 Study Questions (12.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. What is a money market account? (0.5 points)Is an account that invest your money in low risk investments with predicable interest rates.
Section 2 Study Questions (9.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. What is renting? (0.5 points) An agreement where a payment is made for the temporary use of a good, service or property owned by another individual or company.
Section 4 Study Questions (12.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) What is a money market account? (0.5 points) A money market is a common type of account offered by banks that is used just as a savings account it. In a money market account you invest your money in low risk investments with predictable interest rates.
(0.5 points) amount of money held in a bank account at a given moment. 3. Name at least two things to consider when choosing a bank. (1.0 points) Trust, convenience 4. Name at least two risks banks face.
Borrower who has failed to make a payment of principal or interest rate when due is determined to be in delinquency. 4. Prestige cards offer exclusive benefits and generally have a high criteria for acceptance. 5. Affinity cards are branded credit cards that carry both the logo of the banking institution as well as the logo of the sponsored organization.
Why do people take speculative risks? (0.5 points) I think because some people want to make money like in the stock market that’s a speculative risk because you never know when the stock market will go up or down. 3. What is meeting the deductible? (0.5 points) When you have paid the deductible amount and the insurance company must now pay some or all of the rest of the costs above that amount.
Why do people take speculative risks? (0.5 points) To take a chance if you do pick right the returns are huge. 3. What is meeting the deductible? (0.5 points) When you have paid the deductible amount and the insurance company must now pay some or all of the rest of the costs above that amount.
Why do people take speculative risks? (0.5 points) People take speculative risks because you have a possibility of profit or gain. 3. What is meeting the deductible? (0.5 points) Meeting the deductible is when you have paid the deductible amount and the insurance company now has to pay some or all of the costs above the amount.
Distributions of Roth IRAs can still be taxed if the distribution is not qualified. A qualified distribution is “a withdrawal from a Roth IRA that is (1) Made on or after the date you become 59 ½; or (2) Made to your beneficiary, or to our estate, after you die; or (3) Made to you after you become disabled within the IRS code; or (4) Used to pay for qualified first-time homebuyer expenses” (Lewis). Keep in mind that the five tax year rule is also applied. That means before you can withdraw your funds without penalty. The Roth IRA had to open at least five tax years.