Econ Vocab Flashcard #5

Front

Which of the following is considered an asset? Inventory, Accounts Payable, Equipment Liability, House

Back

House

Front

How do you calculate net worth?

Back

Net worth = Total Assets - Total Liabilities

Front

Which of the following would NOT be on a credit report? Personal hobbies or interests, Loan payment history, Credit card balances, Length of Credit

Back

Personal hobbies or interests

Front

Which is a benefit of a CD?

Back

Higher interest rates than regular savings accounts.

Front

What is a Mutual Fund?

Back

A mutual fund is an investment that pools money from multiple investors to invest in a diversified portfolio.

Front

When you diversify your investments you are....

Back

reducing risk in your investment portfolio

Front

Which type of tax bracket system do we have in the US?

Back

Progressive tax bracket system

Front

Which of the following is a benefit of a credit card?
Options: No impact on credit score, Deferred payment and rewards, High interest rates, Limited acceptance at stores

Back

Deferred payment and rewards

Front

A 529 savings plan is for....

Back

education savings

Front

The two types of IRA's are: Basic IRA and Premium IRA, Flexible IRA and Fixed IRA, Traditional IRA and Roth IRA, Savings IRA and Investment IRA

Back

Traditional IRA and Roth IRA