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DECA Personal Financial Literacy
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DECA Personal Financial Literacy
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25 Questions

1. the amount of expenses that must be paid out of pocket before an insurer will pay any expenses.

2. Gains (taxed) from selling stocks or other financial investments for more than what was paid for them.

3. Penalty

4. executive who has overall responsibility for managing both the revenue and cost elements of a company's income statement, known as profit & loss responsibility

5. Investing roughly equal amounts of money at regular intervals. If stock goes up, you automatically are buying less schares, if stock goes down, you are automatically buying more shares.

6. 1) Identify your financial goals 2) Calculate your net worth 3) Identify your sources of income 4) Assess your resources 5) Save for goals

7. A business that cashes checks, giving the customer cash in exchange for a fee for the service.

8. the use of an inflation ceiling ('target') to signal the need for monetary policy adjustments to stabilize prices

9. Money or securities held by a third party until conditions of a contract are met

10. Due by end of January, given by employer

11. 35% : Payment history | 30%: Credit Utilization | 15%: Length of Credit History | 10%: Types of Credit in Use | 10%: New Credit

12. Tax-deferred arrangement for individuals with earned income; individual retirement arrangement.. You are taxed when you withdraw in the end.

13. money raised by a business or investor in exchange for a share of ownership of the company

14. Desires for items that can only be obtained by spending money

15. Cash or in-kind benefits given to individuals as outright grants from the government

16. No, if you don't borrow, then you won't have a credit score.

17. Buy stocks and then hold them for the long run, regardless of what prices do in the short run. - You get tax deferments as long as you're holding so you can make interest on money that would have been lost on capital gains.

18. the total value of everything someone owns, minus the debts. Assets

19. Include your name, address, telephone number, and email address - resume profile which includes a summary of your skills, experiences - Education: academic record and transcript - Prior Work Experience

20. Allows person to deposit and withdraw money from their account at an atm

21. Profit and loss over a period of time for a company.

22. Bond issued by the treasure with a 10 year maturity date. Capital gains only taxed federally.

23. a set of promotional activities designed to obtain sales in the retail setting.

24. When you are denied a line of credit, you get a free report by one of the major credit bureaus.

25. Commercial banks deal primarily with deposits and loans from corporations or large businesses.

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